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SEC to penalize firms inaccurate, false reports - BusinessWorld Online
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SEC extends GIS deadline submission
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SunStar
+ April 05, 2021 THE Securities and Exchange Commission (SEC) has extended the deadline for the submission of the General Information Sheet (GIS) to allow corporations to cope with the new rounds of enhanced community quarantine (ECQ) and the transition to an online submission system.
In a notice issued on March 31, the commission announced that all stock and non-stock corporations shall have 90 days from the date of the annual stockholders’ meeting or annual members’ meeting fixed in their bylaws or as determined by the board of directors/ trustees to submit their GIS.
For instance, a corporation that held its annual meeting on March 30 will have until June 28 to submit its GIS. Meanwhile, a corporation originally due to submit the report on or before March 12 will have an additional 60 days, or until May 11, to comply with the requirement.
April 6, 2021 | 12:03 am Font Size
PEXELS.COM/BURST
THE Securities and Exchange Commission (SEC) extended the general information sheet (GIS) submission deadline to give corporations time to adjust to the online submission tool and as the country’s strict lockdown measures are extended.
“The adjusted deadline applies to stock corporations, which held their annual stockholders’ meetings prior and during the enrollment period for the newly launched SEC Online Submission Tool (OST),” the corporate regulator said.
The enrollment period for the online portal will run from March 15 until Dec. 15. Stock corporations are required to use the OST beginning this year, while nonstock corporations have until 2022 before they are required to enroll and use the platform.
SEC extends deadline for GIS submission – Manila Bulletin
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