THE Securities and Exchange Commission (SEC) is extending the deadline for submission of Integrated Annual Corporate Governance Reports (I-ACGRs) for another month due to the continuing effects of the coronavirus pandemic.
In a July 22 notice on its website, the regulator said it is allowing publicly listed companies to submit their I-ACGRs until Sept. 1, a month later than the originally adjusted deadline on July 30.
The extension will automatically apply without submitting a request with the SEC. But companies that choose to submit their I-ACGRs on or before July 30 will still be allowed to do so.
Originally, companies listed at the Philippine Stock Exchange are required to submit their I-ACGRs with the SEC every May 30 of each year.
But in April, the SEC extended the deadline to July 30 due to the impact of the coronavirus pandemic to business operations.
Aside from the I-ACGR, the SEC has moved several deadlines for other reportorial requirements over the past months to give leeway to companies that are struggling from the effects of the pandemic.
Among these is the deadline for submission of 2019 annual reports and audited financial statements, which was moved to June 30. The submission of annual financial statements and general information sheets is also allowed until August.
At the moment, the SEC is accepting submission of reports through e-mail, for soft copy, and courier, for hard copy, to prevent the spread of the coronavirus among its personnel. — Denise A. Valdez