Supreme Court E-Library
Information At Your Fingertips

  View printer friendly version

(NAR) VOL. 12 NO. 2 / JANUARY - MARCH 2001

[ SEC-CFD MEMORANDUM CIRCULAR NO. 001, March 28, 2001 ]


Pursuant to Republic Act No. 8799, otherwise known as the Securities Regulation Code (SRC), and its implementing Rules and Regulations, the following scale of fines shall be imposed for late filing of reports by reporting corporations enumerated in Section 17.2 thereof:

Basic Penalty
Penalty for everyday of Delay

First Offense
Second Offense
Third Offense
Annual Reports
Tender Offer Report P100,000.00 P150,000.00 P200,000.00 P100.00
Proxy Statement P100,000.00 P125,000.00 P150,000.00 P100.00
Information Statement P100,000.00 P125,000.00 P150,000.00 P100.00
Quarterly Report P 50,000.00 P 75,000.00 P100,000.00 P100.00
Current Report P 50,000.00 P 75,000.00 P100,000.00 P 100.00
Statement of Beneficial Ownership
Nominal P 10,000.00 P 15,000.00 P 20,000.00 P 50.00
5% P 20,000.00 P 25,000.00 P 30,000.00 P 50.00
10% P 50,000.00 P 75,00.00 P100,000.00 P 50.00

Whenever applicable, the second and third offenses shall refer to subsequent violations within a 12 month period from the first offense.

This memorandum circular shall take effect immediately.

Adopted: 28 March 2001

© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.