Regulatory Alerts2023-08-01
SEC MC No. 09, Series of 2023 Further Extension of Amnesty Deadline and Streamlining of Application Process
The Securities and Exchange Commission extends the deadline for amnesty applications under MC No. 2, Series of 2023, until September 30, 2023, to accommodate compliance challenges and encourage qualified corporations to settle fees before increased penalties take effect. The Commission streamlines the application procedure by replacing notarized forms with a web-based form on the eFAST platform and removing the undertaking for late Annual Financial Statement submission for applications filed after July 1, 2023. This memorandum circular retains existing amnesty rates while mandating the complete submission of reportorial requirements by the new deadline to secure a Confirmation of Payment.
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