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SEC Reporting

Extension of and penalty for noncompliance on website template for listed companies

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:

Click here to read more of this update…

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About leecpa

Orlando Calundan is a Certified Public Accountant. He has exposures in audit of financial statements of entities in various industries such as real estate, food (quick service restaurants), manufacturing, service organizations and BPOs, automotive, holding/investment companies and more. He also has exposure on internal audit engagements. http://calundan.co

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