THE Securities and Exchange Commission (SEC) has extended the submission deadline for the integrated annual corporate governance reports (I-ACGR) of publicly listed companies (PLCs) for a month to June 30.
“In recognition of the difficulties that the COVID-19 (coronavirus disease 2019) pandemic and the imposition of the General Community Quarantine may present on the ability of PLCs to timely comply with this requirement, the commission hereby extends the deadline for the filing of I-ACGR until June 30,” the SEC said in a notice.
Listed companies are required to submit the reports on May 30 for each year that it is listed on the Philippine Stock Exchange.
The commission said listed firms do not need to file a request as the deadline extension automatically applies. However, those who can submit on the original deadline may do so.
SEC BAGS GOVERNANCE AWARD
Meanwhile, London’s Cambridge International Financial Advisory has given the SEC a Global Good Governance (3G) Advocacy and Commitment Award for putting forward good governance in the country’s corporate sector. It was awarded virtually on Tuesday.
“This recognition affirms the SEC Philippines’ resolve not only in creating a good corporate governance climate in the country but also in promoting sustainable business practices and stakeholder centricity among its corporate constituencies,” Emilio B. Aquino, chairperson of the SEC, said in a statement on Wednesday.
The 3G Awards recognizes individuals and institutions for efforts in governance and sustainability through transparency, social responsibility, sustainability, impact, and innovation.
Winners are chosen from three main categories, namely: government and politics, corporate sector, and social sector and philanthropy.
The SEC has adopted corporate governance codes, sustainability reporting guidelines, among others. It also conducts forums with stakeholders to discuss corporate governance issues and participates in global development initiatives.
“We have been and shall remain to be a champion and purveyor of good corporate governance and sustainability,” Mr. Aquino said. — Keren Concepcion G. Valmonte
