ON June 15, 2023, the Securities and Exchange Commission (SEC) issued a draft memorandum circular (MC) and, at the same time, requested the public to comment on the proposed simplified registration statement form and procedures under the Securing and Expanding Capital for Farms and Agribusiness Related Modernization Schemes (SEC FARMS).

SEC FARMS is in line with the 2023-2028 Philippine Development Plan (PDP) that aims to develop job creation and accelerate poverty reduction by reinvigorating the agricultural industry that is vital in meeting the PDP objectives.