Tax Notes: Mandatory e-mail address, mobile number in GIS for SEC transactions

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IN LINE with the Securities and Exchange Commission’s (SEC) development and implementation of an electronic filing and monitoring system, the SEC has released Memorandum Circular (MC) 28-2020 that requires companies to provide their official electronic mail (e-mail) address and mobile phone numbers which will be used for communication, submission and other transactions with the SEC.

Submission of such valid electronic mail address and mobile phone numbers, and alternates thereof, shall be complied within 60 days from the effectivity of the memorandum. Persons who shall manage such email addresses and contact numbers shall be the corporate secretary, the person charged with the administration and management of the corporation sole, the resident agent of foreign corporation, the managing partner, the individual, or the duly authorized representative.

Subsequent updates on the official email address and phone numbers shall be made within five days from the date of change.

Companies in areas with no internet connection shall submit a certification to attest such fact and only provide the mobile phone numbers; provided that, the companies shall inform the SEC of its official and alternate email addresses within 30 days from the date such area gained internet access.

Beginning Feb. 23, 2021, the e-mail addresses and mobile phone numbers shall be included in the General Information Sheet or Notification Update Form regularly filed with the Commission.

Failure to include such information shall be sanctioned with administrative penalty of P10,000.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants