IC CIRCULAR LETTER NO. 15-2005, April 13, 2005
SUBMISSION OF INTERIM QUARTERLY REPORTS ON SELECTED FINANCIAL DATA
National Administrative Register April 13, 2005
Records show that many companies do not submit the quarterly reports on selected financial data required under Circular Letter No. 5-99, despite repeated follow-ups.
In view of the significance of these data, all companies are hereby enjoined to submit their reports within the prescribed deadline. Failure to do so, a fine of One Thousand (P1,000.00) shall be imposed by the Commission for each day of delay.
This supersedes Circular Letter dated February 13, 2003.
Adopted: 13 April 2005
(SGD.) BENJAMIN S. SANTOS
Insurance Commissioner