Regulatory Alerts2024-08-30
SEC MC No. 13, Series of 2024 — Enhanced Compliance Incentive Plan
The Securities and Exchange Commission of the Philippines issues SEC Memorandum Circular No. 13, Series of 2024, to launch the Enhanced Compliance Incentive Plan (ECIP) for corporations failing to submit timely reportorial requirements. The program allows eligible domestic and foreign entities to settle unassessed or unpaid fines for late or non-filing of General Information Sheets and Audited Financial Statements through a web-based application process. The ECIP is available from September 2 to November 30, 2024, and excludes listed public companies and those with specific legal disputes or expired terms.
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