SALIENT FEATURES OF SEC MEMORANDUM CIRCULAR NO. 10, SERIES OF 2022
Date Posted: 9 February 2023
The SEC would like to warn all corporations that it will strictly implement its guidelines under SEC Memorandum Circular 15, S. 2019, SEC Memorandum Circular 30, S. 2020, and SEC Memorandum Circular No. 10, S. 2022.
To avoid being imposed with heavy fines and penalties, all reporting corporations are directed to:
1. Register in the e-FAST platform. Please refer to this link for the e-FAST tutorial video: HERE 2. Submit the annual reportorial requirements such as the General Information Sheet and the Annual Financial Statement on or before the required filing date. 3. Provide correct beneficial ownership information in the Beneficial Ownership Declaration Page of the GIS. Do not leave the Beneficial Ownership Declaration Page blank!
Pursuant to SEC Memorandum Circular No. 10, S. 2022, the penalties for non-disclosure and false disclosure of beneficial ownership information are as follows:
