The roadshow intends to help avoid being victims of investment scams, “that is why we are here because we regulate those companies who are offering investments to the public. Always check with SEC to be properly informed on how and whom you will invest your money,” Atty. Santos added.
Further, SEC also announces the extension of the deadline for applications for amnesty for late and non-filing of annual financial statements (AFS), general information sheets (GIS), and official email addresses and mobile phone numbers.
Eligible companies now have until June 30 to finish their amnesty applications. Moreover, applicants now have 90 days, instead of 45 days, from the date of payment to submit their latest due financial statements.
The SEC launched the amnesty program for noncompliant corporations, as well as those whose certificates of registration have been suspended or revoked, for their failure to submit their AFS and GIS on time, in the middle of March through SEC Memorandum Circular No. 2, Series of 2023.
In turn, the compliance of corporations with their reportorial requirements will allow the SEC to prudently identify active and inactive corporations, enhance and organize its digital database for better monitoring and enforcement, and cultivate a healthy and vibrant corporate sector.
After the extended deadline of June 30, an updated scale of fines and penalties for the covered reportorial requirements shall be implemented. (RVC/EDT/MLE/PIA9-Zamboanga City)
