On a Memorandum Circular released on 16 March 2023, the Securities and Exchange Commission announced its program of granting Amnesty to non-filing and late filing of reportorial requirements of entities. The filing and submission of supporting documents were initially due on 30 April 2023.
The Commission now extends the availment of amnesty until 30 September 2023, with a more streamlined process through their online platform Electronic Filing and Submission Tool (eFAST).
SEC notes, that providing amnesty on fines and penalties will provide corporations ample and cost-effective opportunity to update and make current their compliance with the documentary and reportorial requirements under the RCC, and the rules promulgated by the Commission.
Read more on:
MC No. 2, Series of 2023: https://www.sec.gov.ph/mc-2023/sec-mc-no-02-series-of-2023
SEC Extension of Deadline: https://www.sec.gov.ph/pr-2023/sec-extends-deadline-for-amnesty-applications-anew-simplifies-procedure
photo courtesy of Securities and Exchange Commission Facebook Page.
