This circular provides for the grant of amnesty on the fines and penalties assessed, or to be assessed and collected by the SEC for the non-filing and late filing of the GIS, AFS, including its attachments, as well as non-compliance with MC 28, series of 2020, for the latest and prior years.
| Violation | for Non-Compliant Corporations* | for Suspended/Revoked Corporations** |
|---|---|---|
| Non-filing of GIS | P5,000.00 (encompassing all violations of non-filing and late filing of GIS, and AFS and its attachments) | 50% of assessed fine (encompassing all violations of non-filing and late filing of GIS, and AFS and its attachments) |
| Late filing of GIS | ||
| Non-filing of AFS | ||
| Late filing of AFS | ||
| MC No. 28, S. 2020 | WAIVED (Php10,000) | WAIVED (Php10,000) |
*Subject to the submission of the latest reportorial requirement due at the time of application and compliance with MC No. 28, series of 2020 through the MC28 Submission Portal
**Subject to the payment of filing/petition fee and appropriate proceeding for lifting of the Order of Suspension/Revocation of Certificate of Registration
Those who wish to avail of the amnesty must file the Online Expression of Interest Form (EOI) on or before April 30, 2023 via the Electronic Filing and Submission Tool (eFAST), which shall automatically generate a Payment Assessment Form (PAF) reflecting the amnesty amount that may only be settled through the Electronic System for Payment to SEC (eSPAYSEC).
Covered entities
Corporations, including branch offices, representative offices, regional headquarters, and regional operating headquarters of foreign corporations and foundations Associations, partnerships, and persons under the jurisdiction and supervision of the SEC that failed to comply with MC 28
Not covered
- Corporations whose securities are listed on the Philippine Stock Exchange (PSE)
- Corporations whose securities are registered but not listed on the PSE
- Corporations considered as public companies
- Corporations with intra-corporate dispute
- Corporations with disputed GIS
- Other corporations covered under Section 17.2 of the Securities Regulation Code