Regulatory Alerts2019-07-26
MC No. 15 s.2019 — Amendment of SEC Memorandum Circular No. 17, Series of 2018 on the Revision of the General Information Sheet (GIS) to include Beneficial Ownership Information
The Securities and Exchange Commission issued Memorandum Circular No. 15, Series of 2019, amending the General Information Sheet to mandate the disclosure of beneficial ownership information for stock and non-stock corporations. The revised forms require filers to identify natural persons who ultimately own or control the entity through specific categories such as direct ownership, nominee arrangements, or executive control. Corporations must submit the completed GIS within thirty calendar days of their annual meeting and file amended reports within seven days of any relevant changes to maintain compliance with regulatory standards.
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