MANILA – The Securities and Exchange Commission (SEC) has extended the deadlines for the reportorial requirement of companies with fiscal years ending amid the coronavirus disease 2019 (Covid-19) pandemic.
In an en banc meeting on May 7, SEC would allow companies with fiscal years ending between Jan. 31, 2020 and Mar. 31, 2020 to submit their annual reports and/or audited financial statements until June 30, 2020 or 60 days from the regular deadline.
The SEC also granted companies with fiscal years ending April 30 a 45 calendar days extension. A publicly-listed company or an issuer of registered securities will only have until September 27 to complete all requirements and their audited financial statements until Oct. 12, 2020. The extension under SEC Memorandum Circular No. 17, Series of 2020 shall be applied automatically without the need for a request from the company. However, publicly-listed companies and other issuers of registered securities under the supervision of the SEC Markets and Securities Regulation Department shall file a SEC Form 17-LC special disclosure form with atleast five calendar days before the regular filing deadline.