Penalty for Failure to Comply with the Commission's Directive to Participate in the Corporate Governance Survey
SEC Memorandum Circular No. 05-09 • Securities and Exchange Commission • Memorandum Circulars • Jun 8, 2009
Full text
June 8, 2009 SEC MEMORANDUM CIRCULAR NO. 05-09 TO : All Publicly-Listed Companies SUBJECT : Penalty for Failure to Comply with the Commission's Directive to Participate in the Corporate Governance Survey The Securities and Exchange Commission, under its Memorandum Circular No. 8, Series of 2008 enjoined all publicly-listed companies to participate as respondents in the Corporate Governance Survey using the Corporate Governance Scorecard as survey instrument. CScaDH The Commission En Banc in its meeting on May 13, 2009 resolved to adopt the following administrative penalties for failure to comply with the Commission's directive to participate in the corporate governance survey: 1st Offense Reprimand 2nd Offense P25,000.00 3rd Offense P50,000.00 This Circular shall take effect fifteen (15) days after publication in two (2) newspapers of general circulation in the Philippines. Signed this June 8, 2009. Mandaluyong City, Metro Manila, Philippines. For the Commission: (SGD.) FE B. BARIN Chairperson Published in The Manila Bulletin and Business Mirror on June 10, 2009.
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.