SEC NOTICE – USE OF THE GENERAL INFORMATION SHEET WITH BENEFICIAL OWNERSHIP DISCLOSURE PAGE
By: Atty. Medienne Isabelle M. Castillon
On May 30, 2019, the Securities and Exchange Commission (SEC) requested the public to comment on the latest version of the General Information Sheet (GIS) which requires the disclosure of beneficial owners. Pursuant to SEC Memorandum Circular No. 17, Series of 2018, the latest version of the GIS shall contain a Beneficial Ownership Information page. In the said page, the corporate secretary shall disclose “any natural person who ultimately owns or controls the corporation” as well as “contributors or donors” which may either be a corporation, partnership, or trust.
The SEC has announced that it will still allow the filing of GIS without the Beneficial Ownership Information page before June 30, 2019.
A copy of the draft amendments to the latest version of the GIS is attached herewith for your reference. Comments on the draft may be sent to SEC Enforcement and Investor Protection Department EIPD Director Jose P. Aquino via e-mail at firstname.lastname@example.org or email@example.com. The SEC will accept comments on or before June 14, 2019.