Posting of the Annual Corporate Governance Report (ACGR) in Company Websites
SEC Memorandum Circular No. 18, s. 2013 • Securities and Exchange Commission • Memorandum Circulars • Oct 2, 2013
Full text
October 2, 2013 SEC MEMORANDUM CIRCULAR NO. 18, S. 2013 TO : All Listed Companies SUBJECT : Posting of the Annual Corporate Governance Report (ACGR) in Company Websites In line with the peer review process that is being undertaken by Corporate Governance (CG) experts within the ASEAN region, all publicly listed companies (PLCs) are mandated to post their Annual Corporate Governance Report (ACGR) in their respective websites in order to provide these CG experts with adequate source materials for the said review. The posting of the ACGR shall be made in a separate entry from the company's Annual Report. A basic penalty of Php10,000.00 shall be imposed for non-compliance with this Circular. Continuous failure of the company to comply shall subject it to a monthly penalty of Php1,000.00 until the said report is posted. This Circular shall take effect immediately. Signed this 2nd day of October 2013, Mandaluyong City, Philippines. HDIaET For the Commission: (SGD.) TERESITA J. HERBOSA Chairperson
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