The Securities and Exchange Commission has extended the deadline for corporations, associations, partnerships, and individuals under the jurisdiction and supervision of the Commission to comply with SEC Memorandum Circular No. 28, series of 2020, without penalty, to Feb. 22, 2021.
MC 28 requires registered corporations, partnerships, associations, and individuals to create and/or designate an e-mail account address and cellphone number for transactions with the Commission.
In a notice posted yesterday at sec.gov.ph, it said the online submission via MC28_S2020@sec.gov.ph of forms/notices must be done on or before the deadline, while the filing of the hard copies, that may be done via submission/appointment to the ICTD-ERMD Receiving Unit, courier services, or PhilPost, of the forms/notices shall be optional.
However, corporations, associations, and partnerships with certificates of registration issued after Jan. 23, 2021 are given a period of 30 days from the issuance of the certificate of registration to comply with SEC MC No. 28, s. 2020, without penalty, the notice added.
Except as otherwise provided in this notice and SEC MC 28, beginning Feb. 23, the Commission shall impose administrative penalties for non-compliance, it added. SEC Bacolod Extension Office head Annabelle Corral-Respall earlier said in a press release that those who have not submitted within the deadline shall be administratively penalized in the amount of P10,000.*