Good news for Philippine corporations: SEC suspends per-month delay penalties until December 31, 2026

📢 Good news for Philippine corporations: SEC suspends per-month delay penalties until December 31, 2026

The Securities and Exchange Commission has issued Memorandum Circular No. 16, Series of 2026 (effective May 14, 2026), temporarily suspending the per-month-of-delay penalty for late or non-filing of reportorial requirements under MC No. 06-2024.

What’s covered?

✅ Annual Financial Statements (AFS)

✅ General Information Sheet (GIS)

(and other covered reportorial requirements)

Key points:

•  The suspension runs from May 14, 2026 to December 31, 2026

•  It applies prospectively to all covered corporations

•  Only the incremental monthly penalty component is suspended (base penalties for late/non-filing may still apply)

•  No refunds or credits for penalties already paid before effectivity

•  Corporations with pending monitoring applications or final assessments will receive updated assessments excluding the monthly delay portion

This is a welcome relief measure aimed at reducing compliance costs and supporting ease of doing business.

Practical takeaway: Now is the ideal window to review your SEC compliance status, catch up on any overdue filings, and get your corporate housekeeping in order before penalties resume in 2027.

At CGRLAW & Associates, we help clients stay on top of SEC reportorial requirements, corporate compliance, and regulatory updates like this one.

Questions on how this affects your company? Drop them in the comments or send me a message. Happy to share practical guidance.

#SECPH #CorporateCompliance #ReportorialRequirements #EaseOfDoingBusiness #PhilippineLaw #CGRLAW

CGRLAW & Associates

Unit 2101 and 2111 Cityland 10 Tower 2, H.V. Dela Costa Street, 

Salcedo Village, Bel-Air, Mak​ati City 

3F Salcedo One Centre, 170  Salcedo Street, 

Legaspi Village, Makati City

U302 Capitol Masonic, 35 Matalino Street, 

Diliman, Quezon City

Tel. No. (+63 2) 8277 7239 

             (+63 2) 8985 4322

              (+63 918) 948 6092 DL Mobile

           (+1 646) 918 1512. DL US

email: claude.requino@cgrlaw.ph

website: www.cgrlaw.ph

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. You are hereby notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited and may be violative of Cybercrime Prevention Act.