March 31, 2020
CORPORATE GOVERNANCE AND FINANCE DEPARTMENT
| TO | : | Investment Companies, Registered Issuers of Proprietary and Non-Proprietary Shares/Timeshares Public Companies, Financing Companies, Lending Companies, Foundations, Accredited Microfinance NGOs and Publicly-Listed Companies under the Supervision of CGFD |
| SUBJECT | : | Suspension of Cumulative Penalties for Covered Companies in View of the COVID-19 |
NOTICE
In order to help companies cope with the impact and challenges brought about by the 2019 Corona Virus Disease (COVID-19) and in view of the resulting work suspension at the Commission and the subsequent the imposition of the Enhanced Community Quarantine (ECQ), the Commission hereby SUSPENDS the daily and monthly monetary penalties (Cumulative Penalties), as may be applicable, imposable on Investment Companies, Issuers of Proprietary and Non-Proprietary Shares/Timeshares, Public Companies, Lending Companies, Financing Companies, Foundations, Accredited Microfinance NGOs and Publicly-Listed Companies under the supervision of the CGFD (Covered Companies), from 13 March 2020, 1 until the ECQ Period is lifted by order of the President, subject to the following guidelines:
1. No Cumulative Penalties shall accrue against the Covered Companies for the period starting 13 March 2020...
