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SEC adds P2B to gov't funds vs. COVID-19

The Securities and Exchange Commission (SEC) has remitted P2 billion to the Bureau of Treasury (BTr), as directed by the Department of Finance (DOF) to augment the government's war chest against the coronavirus disease 2019 (COVID-19).

The corporate regulator said the contribution is in accordance with the Bayanihan to Heal as One Act signed into law by President Rodrigo Duterte last month.

"A pandemic that has brought the world to a standstill, disrupted businesses and livelihoods, and caused the loss of lives calls for a collective response from all sectors," SEC chairperson Emilio Aquino, said.

"The SEC has moved into position for the country’s fight against COVID-19. Aside from supporting other government agencies on the frontlines, we have worked on buttressing the corporate sector, capital market and investing public, which are crucial in the resilience of our economy and, more importantly, of the Filipino people," he elaborated.

The SEC last month extended the deadline for the submission of annual and quarterly financial reports of companies affected by the spread of COVID-19.

It has also ordered publicly listed companies to inform the investing public of the impact of the virus on their business operations, as well as the risk-mitigating measures they have undertaken. —LDF, GMA News