Securities and Exchange Commission-Davao Extension Office (SEC-Davao) urged non-profit organizations (NPO) to immediately submit their mandatory disclosures on or before February 28, 2020.
The order is in accordance with the 2019 Guidelines for the Protection of SEC Registered Non-Profit Organizations from Money Laundering and Terrorist Financing Abuse.
“The order is necessary to ensure that non-profit entities subject to SEC’s supervision and registration are not organized or used for purposes which are contrary to the law,” SEC-Davao officer-in-charge director Katrina Jamilla Ponco-Estares said in an advisory released Thursday.
Non-profit organizations (NPOs) must only accomplish the Mandatory Disclosure Form online and print the form sent to their email addresses.
The NPOs will then proceed to the declaration or verification page found on the SEC’s website. Once received through email, it must be filled out, printed, signed, and notarized.
A copy of the notarized Declaration/Verification page and the Mandatory Disclosure Form attached with supporting documents must be submitted to SEC Davao Office on the 2nd floor of the SDC Building in Maa, Davao City on or before February 28, 2020.
All the necessary forms and list of other requirements can be found on the SEC’s website.
SEC warned to revoke the registration of NPOs if they fail to submit their MDF on the specified period.