SEC Urges Corporations To File AFS

The Securities and Exchange Commission (SEC) has expressed reminder all corporations, stock or non-stock, registered with SEC whose current fiscal year ends on December 31, 2014, may file their audited financial statement (AFS) at the SEC head office in Mandaluyong City and other branches nationwide, prior to April 13, 2015.

Lawyer Alma Dalena, SEC legal officer said the reminder is not only limited to the mother companies but also to its branches nationwide which fiscal years also ended last day of December.

Dalena said they can also file their AFS at any SEC satellite offices at All Mall ,Quezon City,SEC extension offices in the cities of Davao, Cebu, Iloilo, and Baguio.

Dalena explained that starting April 13, 2015, filing dates shall depend on the last numerical digit of the SEC registration or license number.

The SEC legal officer pointed out that those who will file on April 13, 14, 15, 16, and 17, are those with “1” or “2”, last digit numbers. For April 20, 21, 22, 23, and 24, are last digit numbers, “3” or “4”.

Last digit numbers “5” or “6” for those who will file their AFS on April 27, 28, 29, and 30.

Numbers “7” or “8” for May 4, 5, 6, 7, and 8; and for those who will file their AFS on May 11,12, 13, 14, and 15, are last digit numbers “9” or “0”.

Dalena also said that corporations whose current fiscal year ends on a date other that December 31, 2014 shall follow section 3 of the SEC guidelines on the imposition of fines or penalties for non-compliance with reportorial requirements dated July 31, 2002.

Dalena at the same time said SEC conducts free monthly seminars on the SEC reportorial requirements of stock and non-stock corporations as well as investment scams prevention at the their SEC building along V. Rama Avenue, Englis, Cebu City.

She said for stock corporations the schedule seminars for this year are March 13, April 8, May 22 from 8:30 to 11:30 in the morning, June 18, from 1:30 to 4:30 in the afternoon.

July 3,August 7, September 17,October 23, November 13, from 8:30 to 11:30 in the morning, December 17, from 1:30 to 4:30 in the afternoon. For non-stock corporations the seminars will be on March 20, from 8:30 to 11:30 in the morning; April 8, May 22, from 1:30 to 4:30 in the afternoon.

June 19, July 10, August 14, September 25, October 30, from 8:30 to 11:30 in the morning; November 13, 1:30 to 4:30 in the afternoon and December 17 from 8:30 to 11:30 in the morning.

According to Dalena officers, directors and trustees of corporations are encouraged to attend the seminars.

She added they are also extending invitations to students and other interested parties to join the said activities.