Regulatory Alerts2023-11-06
SEC MC No. 20, Series of 2023 Final Extension of Amnesty Applications until 31 December 2023
The Securities and Exchange Commission of the Philippines issued this memorandum circular to grant a final extension of the amnesty application deadline until 31 December 2023 for regulated entities. The directive requires non-compliant corporations to submit their Expression of Interest by the end of 2023, followed by the upload of all supporting documents, including Audited Financial Statements and Petitions to Lift Orders, via the eFAST system by 31 January 2024. Failure to meet these submission deadlines will result in the forfeiture of paid amnesty and filing fees, after which an updated scale of fines and penalties for reportorial requirements will take effect on 1 January 2024.
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