Compliance with SEC Memorandum Circular No. 9, Series of 2014
SEC Memorandum Circular No. 20-14 • Securities and Exchange Commission • Memorandum Circulars • Nov 10, 2014
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November 10, 2014 SEC MEMORANDUM CIRCULAR NO. 20-14 TO : All Corporate Governance Covered Companies SUBJECT : Compliance with SEC Memorandum Circular No. 9, Series of 2014 Memorandum Circular No. 9, Series of 2014 (MC 9) mandates all Corporate Governance covered companies to file their respective Manual of Corporate Governance (MCG) reflecting the amendments to the Revised Code on Corporate Governance (RCCG) not later than 31 July 2014. The Commission, in its meeting on 06 November 2014, resolved to grant extension of compliance with subject MC 9 until 31 December 2014 . A basic penalty of PhP20,000.00 shall be imposed for non-compliance with this Circular. Continuous failure of the company to comply shall subject it to a monthly penalty of PhP2,000.00 until the manual is filed. Signed this 10th day of November 2014, Mandaluyong City, Philippines. IaAHCE For the Commission: (SGD.) TERESITA J. HERBOSA Chairperson Securities and Exchange Commission
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