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The Sec urities and Exchange Commission is giving non-compliant, delinquent, suspended and revoked corporations until the end of the year to avail of lower fines and penalties for the late and non-filing of their reportorial requirements.The Commission on November 28 issued SEC Memorandum Circular No. 17, Series of 2024, providing for the Extension of Enhanced Compliance Incentive Plan Applications until December 31, 2024.
Forfeiture of ECIP Fees Failure to submit the complete set of requirements by December 31, 2024 shall forfeit the ECIP fee of P20,000.00 for non-compliant corporations and 50% of the total assessed penalties, as well as the initial petition fee of P3,060 for suspended/revoked corporations, in favor of the Commission.
Securities And Exchange Commission ECIP Enhanced Compliance Incentive Plan Annual Financial Statements AFS General Information Sheet GIS
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