In order to expedite the transmission and receipts of official communication, the Securities and Exchange Commission (SEC) has issued SEC MC No. 28-2020 to serve as a guide for the creation and/or designation of an official email account and cellphone number for transactions with the Commission. Some of the important provisions of the MC are as follows:
Every corporation, association, partnership and person under the jurisdiction of and supervision of the SEC is required to submit a valid official electronic mail (e-mail) address and a valid cellular phone (CP) number and alternates thereof within 60 days from effectivity of these rules;
For those that are still with pending registration, such information must be indicated in the registration form or submitted within 30 days from issuance of registration;
The e-mail addresses and CP numbers shall be under the control of the Corporate Secretary, the person charged with the administration and management of the corporation sole, resident agent, managing partner, the individual or the duly authorized representative provided that proof of authority to control and to sign the submission shall be submitted to SEC;
Beginning 23 February 2021 onward, the email address and CP numbers shall be included in the General Information Sheet (GIS) or Notification Update Form (NUF). Failure to include such information will constitute the GIS or NUF incomplete.
Both the official and alternate email addresses shall be where transactions, applications, letters, requests, papers, and pleadings may be processed, submitted and/or filed online.
The submission of the email addresses and cellular phone numbers shall be accompanied by an Authorization or Certification of Authorization signed by the duly authorized representative allowing the SEC to send formal notices through the email addresses and CP numbers provided;
In the absence of internet access, only the CP numbers shall be required, together with a certification stating such fact; provided, within 30 days from reconnection of the internet, the email addresses should be submitted to the SEC;
In case of change in e-mail address or CP Number, a Notice to Change shall be filed with the SEC within 5 days from the date of approval of said change. The notice shall be accompanied by an Authorization or Certification of Authorization;
Failure to comply with this requirement within 60 days from effectivity of these rules shall be subject to a penalty of PHP10,000 starting 23 February 2021;
You may access the full version of the memo through the SEC website. If you need further assistance, feel free to reach out.
