Regulatory Alerts2020-03-26
MC No. 11 s.2020 — Guidelines for the Submission or Filing of Securities Deposit during the COVID-19 Outbreak and the Enhanced Community Quarantine
The Securities and Exchange Commission issued these guidelines to ease the burden on branch offices of foreign corporations during the Enhanced Community Quarantine. The directive grants a thirty-day extension from the lifting of the quarantine for filing initial securities deposits, submitting additional deposits, and applying for substitution of matured securities. These measures temporarily suspend the standard deadlines imposed by SEC Memorandum Circular No. 17, Series of 2019.
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