The Securities and Exchange Commission (SEC) is warning erring corporations of a major surge in penalties ahead of the looming deadline for an amnesty program for the the late filing of required reports and financial statements. The deadline for all amnesty applications is on Sept. 30. 'With the stricter penalties, we hope corporations will be more mindful of submitting their annual reports on time, as these are vital in ensuring the efficient functioning of the Philippine corporate sector,' SEC Chair Emilio Aquino said over the weekend.

https://business.inquirer.net/420312/sec-warns-delinquent-firms-of-surge-in-penalties

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