*Update: A SEC-stamped MC 28 Notice is indispensable for the activation of your organization’s company account on the SEC Online Submission Tool (OST).
Under SEC Memorandum Circular No. 28-2020, all corporations, partnerships, associations, and persons under the jurisdiction of the Securities and Exchange Commission (SEC) are now required to submit their e-mail addresses and telephone numbers to the SEC by February 22, 2021. Failure to submit will entail a penalty of Ten Thousand Pesos (Php 10,000.00).
This requirement is intended to facilitate the ease of communication between the SEC and the entities under its jurisdiction. All covered entities are required to submit the following:
Official email address
Alternate email address
Official cellphone number
Alternate cellphone number
The following are the guidelines for submissions:
A. General Guidelines
1. Submission shall be made by filing the appropriate forms through email to mc28_s2020@sec.gov.ph. The filing of hardcopies is optional.
For corporations – must be signed by the Corporate Secretary or a duly authorized representative
For partnerships – must be signed by the Managing Partner or a duly authorized representative
For individuals – must be signed by the individual or a duly authorized representative
2. The contact details must be controlled by the corporate secretary/ the person charged with administration and management of the corporation sole/ the resident agent of the foreign corporation/ the managing partner/the individual/the duly authorized representative. If the notice is signed by an authorized representative, proof of authorization (such as a Special power of Attorney or a Secretary’s Certificate) must be attached.
3. Beginning February 23, 2021 the details submitted must be included in the General Information Sheet or Notification Update Form regularly filed with SEC.
B. Email Addresses
1. What is the purpose for the submission of email addresses?
The official and alternate email addresses shall be used for the sending of official communications and documents before the SEC. Likewise, the SEC will be sending official communications and documents through these email addresses.
2. When are emails considered received?
Emails sent by the SEC are considered received on the date they are sent.
3. What are considered valid email addresses?
a. The official email address must be different from the alternate email address
b. The official email address of one entity may be the same as that of the official or email address of another entity.
C. Cellphone Numbers
1. What is the purpose for the submission of cellphone numbers?
The official and alternate cellphone numbers will be where the One Time Personal Identification Number (OTP) will be sent. This OTP is needed in order to access the emails sent by the SEC.
2. What is considered a valid cellphone number?
The official or alternate cellphone number must be an existing mobile phone number from any telecommunications company legally operating in the Philippines. Foreign numbers are not considered valid.
D. Other Concerns
1. What if the entity does not have internet access?
Only the official and alternate cellphone numbers shall be required to be submitted to the SEC. Proof must be provided showing that an email account cannot be created due to the absence of an internet connection in the area.
2. How do you change the contact details already submitted?
A Notice to Change E-mail Address and/or Mobile Number shall be filed with the SEC.
3. What if you fail to submit the contact details to SEC?
Any entity who fails to submit the contact details by February 22, 2021 shall incur a penalty of Ten Thousand Pesos (Php 10,000.00).