Skip to main content

SEC urges firms to avail of amnesty program

 


CEBU CITY, Cebu, October 26 (PIA) -- The Securities and Exchange Commission (SEC) has urged non-compliant corporations to avail of the amnesty program to avoid heavier monetary fines and penalties for the non-submission of reportorial requirements.

The SEC Amnesty Program is a facility that allows delinquent corporations and other covered entities to submit their requirements within the required period before higher fees and penalties come in.

Through the amnesty program, corporations will have a form of reprieve from the bigger fines due to late and non-filing of requirements, such as their General Information Sheet (GIS) and Annual Financial Statement (AFS).

The program can also be availed of by those suspended or revoked corporations with no Memorandum Circular (MC) No. 28 compliance and corporations whose only violation is non-compliance with Memorandum Circular No.28, Series of 2020.

According to the SEC, all corporations - both domestic and foreign - including foundations and associations, partnerships, and persons under the SEC's jurisdiction and supervision, can apply for the amnesty program.

These firms can start processing their amnesty program application through the SEC Electronic Filing and Submission Tool (eFAST), an online facility to be used for submitting the AFS, GIS, and other reportorial requirements.

All SEC-registered corporations are encouraged to enroll in eFAST so they can access and submit their reports through the system.

They can process their payments and transaction fees through the Electronic for Payment to SEC (eSPAYSEC), where they can pay via digital wallets and other cashless payment options.

By availing of the amnesty program, corporations that are not compliant with the filing of GIS, AFS, and MC28 will only pay a fine of P5,000, while suspended and revoked corporations will only pay petition fees amounting to P3,060, and 50% of the assessed fines for the late and non-filing of AFS and GIS.

The SEC has extended the deadline for amnesty applications until November 6, while the deadline for the submission of additional requirements is until December 4.

Corporations can apply for the amnesty program by visiting amnesty.sec.gov.ph. (RGC/PIA7 Cebu with reports from the SEC)

Comments

Popular posts from this blog

OCD-7: ‘Only OCD can hold incident command system trainings’

  OCD-7 Regional Director Joel Erestain speaking during the 13th episode of the ‘Kapihan sa Bagong Pilipinas’ program held in Cebu City. He emphasized that only OCD is accredited to conduct trainings on Incident Command System. (PIA-7)  CEBU CITY, CEBU (PIA) — Only the Office of the Civil Defense (OCD) can conduct training on the Incident Command System (ICS). This was emphasized by OCD-7 regional director Joel Erestain during the 13th episode of the Kapihan sa Bagong Pilipinas on Aug. 20 in Cebu City.  As the executive arm of the National Disaster Risk Reduction and Management Council (NDRRMC), OCD conducts ICS trainings, which is a standardized approach to managing emergency responses and disasters. “So kung mayro’ng mga iba na nagsasabi na nagte-train daw, hindi po sila accredited. Lalong lalo na nagkaroon tayo ng Civil Defense Training Institute, walang ibang pwedeng mag-train ng ICS, basic ICS, hanggang sa down the line,” said Erestain.  (So if there are people ...

DepEd7 installs new schools superintendent in Dgte

  (l-r) Department of Education Region 7 Director Salustiano Jimenez, Dr. Juditha Mapue, Dr. Casiana Caberte, Mayor Felipe Antonio Remollo, and Assistant Regional Director Atty.. Fiel Almendra during the installation rites of the new schools division superintendent in Dumaguete City. (Contributed photo) DUMAGUETE CITY, Negros Oriental, April 17 (PIA) -- Department of Education (DepEd) Region 7 Director Salustiano Jimenez led the installation of Dr. Caisana Caberte as the new schools division superintendent of Dumaguete City. Caberte, who was previously assigned at the Bohol Division, will replace Dr. Gregorio Cyrus Elejorde who is now promoted as Assistant Regional Director of Region 9 based in Pagadian City.   Dumaguete City Mayor Felipe Antonio Remollo welcomed and congratulated Caberte during her official inauguration in a simple rite in the city.      Caberte was a curriculum specialist and a textbook evaluator at the Bohol Division and has been a recipient ...

Bohol eyes sundown clinics to arrest spike in HIV cases

  TAGBILARAN CITY, Bohol (PIA) -- The Bohol Provincial Health Office has raised the need to establish  sundown clinics in the province to arrest the increase in Human-Immunodeficiency Virus (HIV) cases. Assistant Provincial Health Officer Dr. Cesar Tomas Lopez disclosed that there was an alarming spike of 193 HIV cases in the province in November 2023. This surfaced during the recent community-based testing operations that the province conducted using its test kits.  This is on top of the cumulative 614 HIV cases recorded in the province in recent years, bringing the total to 8107 cases, said Lopez.  All local government units in Bohol have recorded HIV cases, he added.  “Part of the solution is putting up sundown clinics,” said PHO Health Care Support Division Head Dr. Emerson Mateo.  Sundown clinics Sundown clinics serve as main clinic facilities for the diagnosis and treatment of HIV and other sexually transmitted diseases.  They are open from 5:00 ...