Final chance to avail of SEC amnesty program extended to end of 2023
THE Securities and Exchange Commission (SEC) is giving non-compliant and suspended or revoked corporations a last chance to avail of lower fines and penalties with the final extension of amnesty applications until the end of 2023.
The Commission on November 3 issued SEC Memorandum Circular No. 20, Series of 2023, which extends the deadline for corporations to file their amnesty application and settle the amnesty fees to December 31.
The amnesty program provides corporations, which have incurred penalties for the late and non-filing of their General Information Sheet (GIS), Annual Financial Statements (AFS), and official contact details, a reduction on penalties for non-compliance with their reportorial requirements, as provided under Republic Act No. 11232, or t...