Regulatory Alerts2020-03-12
MC No. 05 s.2020: Extension of Filing of 2019 Annual Reports, 2020 Quarterly Reports, and 2019 Audited Financial Statements
The Philippine Securities and Exchange Commission extended filing deadlines for 2019 Annual Reports, Audited Financial Statements, and 2020 Quarterly Reports to companies whose financial statement preparation or audits were disrupted by COVID-19 travel restrictions and business suspensions. Eligible filers must submit a written request five days before the original deadline accompanied by sworn certifications from their president, treasurer, and external auditor confirming the pandemic's operational impact, with the new deadline set for June 30, 2020, or sixty days after travel bans are lifted, whichever occurs later. While granted extensions must maintain continuous material disclosures and submit an indicative date for their Annual Stockholders' Meeting, companies unaffected by the outbreak remain required to file within the original regulatory schedules.