Memorandum Circulars Memorandum Circular No. 11-2023 Amendments on the 2015 Implementing Rules and Regulations of the Securities Regulation Code (The "2015 SRC Rules") and SEC Memorandum Circular No. 16, Series of 2004, Relative to the Settlement Cycle from T+3 to T+2 Securities and Exchange Commission · ONAR 23-0797