After the successful implementation of an amnesty program last year, the SEC issued on Aug. 30 a memorandum circular providing for the Enhanced Compliance Incentive Plan (ECIP).
The incentive program allows corporations that have failed to submit their annual reports on time to restore their good standing.
“As a regulator, the SEC is committed to ensuring that entities under its supervision are compliant with all the laws, rules and regulations applicable to them,” SEC chairperson Emilio Aquino said.
Aquino said the regulator has strictly imposed higher revised fi nes and penalties after the SEC Amnesty Program to encourage strict and habitual compliance with reportorial obligations and good corporate housekeeping.
Esta historia es de la edición September 03, 2024 de The Philippine Star.
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Esta historia es de la edición September 03, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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Revised corporation code training
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SEC warns public against fake PIFA, CT Link Systems
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Alternergy targets 500-MW capacity by 2026
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DA urged to help lower agri input costs
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ABS-CBN bags license deal for Sony movies
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Creative program to engage youth in agri launched Elen
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Meralco, A-Flow team up for hyperscale power deal
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Call centers seek to address cybersecurity gaps
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WTO calls for lower remittance fees
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17 Japanese firms eye local partners
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