SEC issues rules for emailed reports

The Securities and Exchange Commission (SEC) has issued guidelines allowing corporations to submit their reportorial requirements through email while Luzon and other parts of the country remain under enhanced community quarantine.

The Guidelines apply to the General Information Sheet (GIS), audited financial statements, and all other general and special forms and letters.

Under the Guidelines, the documents to be submitted through email should be in Portable Document Format (PDF), preferably with text layer. They should be sent as Multipurpose Internet Mail Extensions (MIME) attachments, using a valid company email account or address of an authorized representative.

The documents should also contain an electronic signature, defined under Republic Act No. 8792, or the Electronic Commerce Act of 2000.

The SEC will recognize electronic images of wet or physical signatures of authorized and appropriate representatives affixed to the documents.

Documents required to be executed and submitted under oath may be submitted unnotarized. It shall be understood, however, that the persons whose signatures appear in the documents shall be held accountable under the appropriate provisions of Republic Act No. 11232, or the Revised Corporation Code of the Philippines.