SEC reopens today

MANILA, Philippines — The Securities and Exchange Commission (SEC) will reopen today to address business applications after closing its offices in mid-March as a result of the Luzon-wide enhanced community quarantine.  

Specifically, the SEC would cater to company registration and monitoring applications that have already been assessed and approved through online processing.

Starting today, the SEC’s Company Registration and Monitoring Department (CRMD) will resume work in its headquarters within the Philippine International Convention Center (PICC).

The CRMD will implement a four-day workweek, from Monday to Thursday, and shortened operating hours, from 9 a.m. to 4 p.m., during the modified enhanced community quarantine   period.

However, despite resumption of on site operations, the CRMD will limit its activities to receiving proof of payment, signed and notarized copies of approved applications, and supplemental documents required during the processing.

The limited operations of the CRMD will likewise include the releasing of Certificates of Incorporation/ and Amendment and Confirmation of Payment, and orders in Petitions to Lift Order of Suspension or Revocations. 

For the payment, the SEC will open payment facilities at its main office in Pasay City and at its former headquarters in Ortigas, Mandaluyong City starting May 26. 

The SEC Extension Offices outside the National Capital Region earlier reopened at limited capacity 

With the resumption of its operations, the SEC would implement strict social distancing and other health protocols to limit the  spread of the coronavirus disease 2019 or COVID-19. 

It will enforce a “no face mask, no entry” policy and limit the number of people allowed inside its offices, among others.

Despite the Luzon-wide lockdown, the SEC continued to accept and process applications for the registration of corporations with at least five incorporators and partnerships online through the Company Registration System (CRS).

 In April, the regulator also set up an interim online registration system.

With this, the SEC was able to facilitate applications for one person corporations and corporations with two to four incorporators.