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MANDATORY DISCLOSURE FORM (MDF)

1. Under SEC Memorandum Circular (SEC MC) No. 17, Series of 2018, as amended
under SEC MC No. 25, Series of 2019, all non-stock corporations are required to file
with the Anti-Money Laundering Division of the SEC’s Enforcement and Investor
Protection Department (EIPD-AMLD), a Mandatory Disclosure Form (MDF) on or
before 28 February 2020.
1.1. The filing of the MDF is mandatory. SEC MC 25, Series of 2019, is available in the
SEC official website “sec.gov.ph”. Failure to comply is a cause for the revocation of
the certificate of registration of the non-complying entity. Sec. 9.5 of MC 25 (S. 2019).
2. The MDF is a document to be filed on a one-time basis; it is a one-time form.
3. All non-stock corporations (defined in SEC MC 17 as a corporation with no
authorized capital stock and no part of its income is distributed to its members,
trustees or officers)1. SEC MC 17 includes non-stock, non-profit educational
institutions as well as corporations sole; hence, these corporations are also required
to submit the MDF.
3.1. Since corporations sole do not have any trustees (unlike other non-stock
corporations), if information is asked pertaining to trustees, kindly just indicate “NA”
in the appropriate space.
4. The MDF is to be file in the manner prescribed by the SEC (the manner is stated in
the SEC’s website (sec.gov.ph) on the “Notices” portion at the left-hand portion of
the SEC home page.
5. The manner of filing as described in the SEC website, and as clarified by Atty.
Alfonso Lanuza of the SEC’s EIPD, is as follows:
Fill out the MDF form which is available on-line by accessing the same through (by
directly typing on your search engine) the following link:
https://forms.gle/ekyFwQxsL67phHKgs5
a. Please note that you can also reach this link through another (alternate) route by
going to the SEC’s official website, i.e., “sec.gov.ph” and then clicking on the Notices
portion on the left-hand margin of the SEC’s home page, which states thereunder
“Mandatory Disclosure Form online submission.” When you click on this link, you
will see the SEC Notice or Instruction for Filling Out the Mandatory Disclosure Form,

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Atty. Alfonso D. Lanuza, Jr. of the SEC EIPD said that a non-stock corporation under MC 17 is a corporation that is
not a stock corporation.
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and step 1 mentioned in the instruction is to click on the link mentioned above (i.e.,
https://forms.gle/ekyFwQxsL67pHKgs5).
a.1. Fill out the MDF form which is found in the above-mentioned link; then send the
filled-out MDF to the SEC online.
a.2. After you send the form online, a printable copy will be automatically sent to
your email address indicated in the MDF you have submitted online. Please print this
printable copy of your online MDF (that the SEC sent to your email address under
step a.1, above).
b. Then click the following link to/of the Declaration/Verification Page:
http://www.sec.gov.ph/2019mandatorydisclosure declaration verification page/
This will automatically send the Declaration/Verification Page to your registered
email address. Again, print this this printable copy; fill it out or complete it with the
corresponding details; sign it; and have it notarized.
c. Attach the signed and notarized Declaration/Verification Page to the duly filled out
(completed) MDF which you had earlier printed as described in step a.2, above.
d. Submit one (1) original copy (i.e., hard copy) of the signed and notarized MDF
printed form together with the supporting documents, if any, as indicated in the
Self-Assessment Questionnaire Page, including the Declaration/Verification Page
attached thereto, to the EIPD-AMLD (located at the ground floor of the SEC Main
Office Building at the PICC Complex, Roxas Bldv., Manila, located across Sofitel
Hotel), on or before 28 February 2020.
Notes:
Please note that non-stock corporation that have already submitted their MDFs
pursuant to SEC MC 15, Series of 2018, on or before 31 July 2018, need not submit a
new or another MDF as they shall be deemed to have complied with the
requirement to submit the MDF under SEC MC 25, Series of 2019. See, Sec. 9.1 of SEC
MC 25 (S. 2019).
New corporations that are registered after the effectivity of SEC MC 15 (i.e., SEC MC
15 became effective on 28 December 2019) shall submit their MDFs within six (6)
months after their date of registration. Sec. 9.3 of SEC MC 25 (S. 2019).
PADILLA LAW OFFICE
21 January 2020