IN ORDER to facilitate and expedite the transmission and receipt of official communications, the Securities and Exchange Commission (SEC) has promulgated Memorandum Circular (MC) No. 28 series of 2020.

The memorandum circular mandates all covered entities to create and designate an official email address, official contact number and their corresponding alternates.

Based on the recent monitoring conducted by SEC - Bacolod Extension Office, it was found out that partnerships registered in Negros Occidental and Oriental have very low compliance rate.

In this regard, the commission is strongly reminding all registered and existing partnerships to comply with MC 28 series of 2020.

To successfully comply, partnerships are required to completely fill-out Annex E and to submit the same via MC 28 Submission Portal found on the SEC website.

Non-compliance with the requirements set out in this memorandum circular entails an outright penalty of P10,000. (PR)