Due to the need to go digital amid the Covid-19 pandemic, the Securities and Exchange Commission (SEC), pursuant to its authority under Republic Acts 11232 and 8799, or the Revised Corporation Code and Securities Regulation Code, respectively, will soon issue a memorandum circular on the guidelines for the filing of audited financial statements (AFS) and general information sheets (GIS), among others, with its soon-to-be-introduced online submission tool (OST).
The tool’s purpose is to make the online filing of AFS, GIS and other documents easy to do and orderly in compliance with applicable laws, sustainable practices and health protocols, as well as to minimize physical copies and the need for people to transact personally at the SEC’s premises. It would, in effect, minimize the risk of Covid-19 exposure.
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