SEC Grant of Amnesty for Non-Filing of Reportorial Requirements
Under current regulations, entities registered with the Securities and Exchange Commission （“SEC”） are required to comply with certain reportorial requirements. Failure to comply with these requirements within the prescribed deadlines will generally result in fines of PHP5,000 to PHP10,000, depending on the violation, and/or other penalties including assignment of delinquent status and eventual revocation of license or registration issued by the SEC. To encourage compliance with these reportorial requirements, on 16 March 2023 under Memorandum Circular （“MC”） No. 2-2023 （the “Circular”）, the SEC granted an amnesty for fines and penalties not yet assessed and/or already assessed but not yet paid for the non-filing and late filing of the following reportorial requirements for the…To read the article, please see the PDF file
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