In the Matter of the Proposed Amendments to the Securities Regulation Code (SRC) Rule 68

January 21, 2014 SEC NOTICE OF PUBLIC HEARING IN THE MATTER OF THE PROPOSED AMENDMENTS TO THE SECURITIES REGULATION CODE (SRC) RULE 68 Notice is hereby given that the Commission received numerous comments and suggestions on the exposure draft of the proposed amendments to SRC Rule 68. Given the concerns raised on the effectivity date of the proposed changes on financial reporting requirements which include the matter on test of materiality of accounts, all are hereby notified that such changes shall no longer be applied to the 2013 Audited Financial Statements unless, there are existing SEC Financial Reporting Bulletins that specifically clarify the compliance issue and thus, must be observed. With respect to the revisions on the requirements for the corporations' external auditors and the Quality Assurance Review, the proposed implementation in CY2014 would still remain subject to the modifications resulting from the public hearing and the consideration of the Commission of the comments received. To discuss the matter, a public hearing is scheduled on 29 January 2014 at 2:00 P.M. to 4:00 P.M. at the 12th Floor of SEC Building, Greenhills, Mandaluyong City. Parties who have filed their written comments would be given priority during the above-scheduled public hearing. Mandaluyong City, January 21, 2014. TICAcD (SGD.) TERESITA J. HERBOSA Chairperson