Securities and Exchange Commission(SEC)

March 1, 2022 Dear Jonathan Espiritu, Greetings! Thank you for your request dated Mar 24, 2020 09:51:49 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Your Request: You asked for Regulations on 100% Foreign Ownership of Business in the Philippines. Response to Request: Your FOI request is approved. I enclose a copy of the email response of the Office of the General counsel dated 26 March 2020 in relation to the information you requested. Your right to request a review: If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to Ms. Karen Lazaro, Administrative Office IV, OGC via email: [email protected]. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request. If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011). Thank you. Respectfully, Romuald Padilla FOI Receiving Officer