SEC-DAVAO URGES NON-PROFIT ORGANIZATIONS TO FOLLOW NEW MDF SUBMISSION GUIDELINES
DAVAO CITY — The Securities and Exchange Commission-Davao Extension Office (SEC-DEO) has urged non-profit, non-stock corporations take note of the new guidelines on the submission of the Mandatory Disclosure Form (MDF) that the Commission recently released.
Under the notice posted on the SEC website on June 9 (http://www.sec.gov.ph/wp-content/uploads/2020/06/2020Notice_MDF-Submission-Guidelines.pdf), the online link for filling out the MDF (https://forms.gle/KF4iBSimLKvChCwRA)shall be accessible to the public only until 15 July 2020. The online MDF submission, however, is only a partial compliance of the requirement.
Printed copies of the MDF should be submitted on or before July 31, 2020. They may be hand-carried to the SEC-DEO, be sent thru post office or courier of choice or be submitted thru electronic mail at firstname.lastname@example.org.
In submitting the printed copies to SEC-DEO, entities can address their documents to:
Securities and Exchange Commission – Davao Extension Office 2F SDC Building, Purok 13, Maa Road, Maa, Davao City
The printed copies are deemed to be submitted on the date they are received by the courier or by the post office.
Those who will submit the scanned copy thru email must follow this format on the subject box: MDF submission – (company name) (date of online submission: mm/dd/yy). The authorized person who signed the verification/declaration page must also state that they commit to submit the printed and notarized copies of the MDF should they be required to do so by the Commission.
All printed copies, including those to be scanned and submitted via electronic mail, should be duly notarized. The SEC will send within five days upon receipt the acknowledgment receipts of those scanned and online copies.
The companies are required to use their official electronic mails in submitting the scanned MDF copies for verification purposes. Should the companies change their official email addresses, their respective corporate secretaries should immediately inform the Enforcement and Investor Protection Department (EIPD) in writing.
The SEC urges the entities not to personally submit their MDFs either to its main office or field offices to avoid unnecessary exposure to the Coronavirus Disease (COVID-19).
Failure to submit within the deadline may be a ground for revocation of Certificate of Incorporation as stated in Memorandum Circular No. 25, Series of 2019.