14/05/2026
AGC Law Office shares this important SEC update on the suspension, until December 31, 2026, of monthly penalties for the late or non-filing of reportorial requirements. Corporations with pending monitoring applications or unsettled final assessments may benefit from the updated penalty computation, subject to the terms of the applicable SEC memorandum circular. We encourage corporations to take this opportunity to review their compliance status and address any pending reportorial requirements.
For inquiries, you may reach us through our official contact channels below:
โ๏ธ (032) 253-6793
๐ฑ (+63) 995 995 9099
๐ง [email protected]
๐ฃ ๐ฆ๐๐ ๐๐๐๐ฝ๐ฒ๐ป๐ฑ๐ ๐บ๐ผ๐ป๐๐ต๐น๐ ๐ฝ๐ฒ๐ป๐ฎ๐น๐๐ถ๐ฒ๐ ๐ณ๐ผ๐ฟ ๐น๐ฎ๐๐ฒ, ๐ป๐ผ๐ป-๐ณ๐ถ๐น๐ถ๐ป๐ด ๐ผ๐ณ ๐ฟ๐ฒ๐ฝ๐ผ๐ฟ๐๐
The Securities and Exchange Commission (SEC) is suspending until December 31, 2026 the imposition of monthly penalties in the late or non-filing of reportorial requirements, as it seeks to reduce transaction costs and promote the ease of doing business.
In its meeting on May 5, the Commission En Banc approved the suspension of penalties imposed for every month of delay for the late or non-filing of reportorial requirements, as provided under SEC Memorandum Circular No. 6, Series of 2024 (MC 6).
โAs we celebrate the Ease of Doing Business month this May, the SEC reaffirms its commitment to foster a robust and responsive business environment,โ SEC Chairperson Francis Lim said.
โBy suspending the compounding monthly penalties, we are providing corporations an opportunity to get back their good standing without the burden of mounting transaction costs, as part of our goal of pushing corporations toward full compliance and sustainable growth,โ he added.
The suspension will apply to corporations with pending monitoring applications. Corporations that have received final assessments but have not yet settled payment will be issued updated assessments excluding the per month of delay components.
Read the full memorandum circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-16-series-of-2026suspension-of-the-per-month-of-delay-penalty-for-late-and-non-filing-of-reportorial-requirements-under-sec-memorandum-circular-no-6-series-of-2024/
Read the full press release here: https://www.sec.gov.ph/pr-2026/sec-suspends-monthly-penalties-for-late-non-filing-of-reports/
