We wrote an article regarding the required disclosure on the website of listed company mandated by Philippine Securities and Exchange Commission (SEC) promote a better corporate governance environment for publicly-listed companies. This was embodied in the SEC Memorandum Circular No. 11, Series of 2014. The SEC has enumerated the information required under their respective recommended topic headings to be included in all publicly listed companies’ websites and were detailedly discussed in our article entitled “Disclosures on websites of listed companies mandated by SEC“.
Extension and Penalty
The SEC in its meeting last August 28, 2014, signed September 1, 2014, resolves the following:
- To extend the compliance with SEC Memorandum Circular No. 11, Series of 2014 up to December 31, 2014
- To impose penalties for non-compliance as follows: