SEC to open satellite offices to ease corporate transactions

MANILA, Philippines - The Securities and Exchange Commission (SEC) is looking to make corporate transactions easier and more accessible as it starts to put up satellite offices in various areas of the country.

SEC chairperson Teresita J. Herbosa said the agency is targeting to open six satellite offices in Metro Manila this year, with  the first branch scheduled to open in Ali Mall in Cubao next month.

Other areas being eyed as possible locations are Alabang, SM North EDSA and SM Manila.

She said the SEC is also exploring opportunities at putting up more branches across other SM malls in the country.

 “The reason why we’re putting up satellite offices is because we’ve noticed that we don’t anymore have to require them to come to the office. Because of online connection, we can already find the history of the company that we need to look at,” Herbosa said.

 “And then we’re already looking at online payment of everything because right now, people still pay us manager’s check. It’s so tedious because they have to come to the office,” she added.

Herbosa said the SEC is also set to transfer its main office to Bonifacio Global City from its present Ortigas location.

 “Our ultimate permanent office will be in BGC. Hopefully, the building will be finished in two to three years,” she said.