13/05/2026
The Securities and Exchange Commission (SEC) has suspended the imposition of monthly penalties in the late or non-filing of reportorial requirements until December 31, 2026 in order to reduce transaction costs and promote the ease of doing business.
In its meeting last May 5, the Commission En Banc approved the suspension of penalties imposed for every month of delay for the late or non-filing of reportorial requirements, as provided under SEC Memorandum Circular No. 6, Series of 2024 (MC 6). MC 6 provides the scale of fines and penalties for the late or non-filing of annual financial statements (AFS) and general information sheets (GIS) submitted by corporations registered with the Commission.
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