Member Article

The Securities and Exchange Commission (SEC) has extended the deadline for applications for amnesty for late and non-filing of annual financial statements (AFS), general information sheets (GIS), as well as non-compliance with SEC Memorandum Circular No. 28, series of 2020 (Requirement for Corporations, Partnerships, Associations, and Individuals to Create and/or Designate E-mail Account Address and Cellphone Number for Transactions with the Commission) (MC28). This extension was granted through SEC Memorandum Circular No. 6, Series of 2023, entitled “Amendment of SEC Memorandum Circular No. 2, Series of 2023, and Extending the Deadline of Amnesty Applications” (SEC MC No. 6-2023 or the “Circular”). The Circular was issued on April 25, 2023, and took effect immediately following the completion of its publication in newspapers nationwide.

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