PSE-listed firms must disclose business impact of COVID19, risk mitigation plans

The Securities and Exchange Commission (SEC) has directed all publicly-listed companies to disclose the impact of the coronavirus (COVID19) pandemic on their business operations alongside measures to mitigate risks.

In a notice dated March 12, the SEC mandated all listed companies to submit current reports (SEC Form 17-C) discussing the risks and impact of the COVID-19 outbreak not later than noon of March 16.

The requirement is pursuant to the state policy to ensure full and fair disclosure about securities and the duty of issuers to report every fact that would reasonably be expected to materially affect the decision of investors to buy, sell or hold securities, the SEC said.

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