THE Securities and Exchange Commission (SEC) has given companies that have failed to comply with reportorial requirements more time to settle their obligations with reduced penalty rates.
THE Securities and Exchange Commission has given companies that have failed to comply with reportorial requirements more time to settle their obligations with reduced penalty rates.Under the SEC's enhanced compliance incentive plan , companies that are non-compliant, delinquent, were suspended or had their registrations revoked can recover their good standing by submitting the required documents and paying lower penalties within a prescribed period.The ECIP was to expire last Nov.
Corporations must submit an expression of interest to participate in the ECIP using the SEC's eFAST platform, and payments may be made through the agency's eSPAYSEC portal.The regulator said that as of Nov. 28, over 3,200 corporations had already applied and paid the corresponding ECIP fees.'Companies who have yet to complete their applications by submitting their AFS and GIS, PLO and its supporting document requirements, as the case may be, are also given until Dec.
Firms Given More Time By Regulator
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