Securities and Exchange Commission Philippines
COVID-19

SEC adopts ‘zero’ physical transactions

Jan 13, 2022, 9:26 AM
Rose De La Cruz

Rose De La Cruz

Columnist

The Securities and Exchange Commission will start today processing all applications for company registration, submission of reportorial requirements and other transactions online to prevent the further spread of COVID 19.

Beginning today, all applications for company registration, submissions of reportorial requirements and other transactions in the main office in Pasay City and former headquarters in Mandaluyong City will be processed online at the Securities and Exchange Commission portals, email, couriers and other remote means.

The SEC said it will adopt the ‘zero’ face-to-face transaction policy to help prevent the spread of COVID19.

The commission also said that the policy is consistent with the Ease of Doing Business Law, and that it will maintain a skeleton work force and implement other alternative work arrangements to ensure the uninterrupted delivery of services despite the changes.

“For the registration of domestic stock and nonstock corporations and for the recording of partnerships and licenses to do business for foreign corporations, applicants may use the Electronic Simplified Processing of Application for Registration of Company (eSPARC),” it noted.

They may also use the One-day Submission and E-registration of Companies under the eSPARC for the registration of domestic stock corporations.

At the same time, the commission reminded companies that they must use the Electronic Filing and Submission Tool (eFAST) to submit their annual financial statements (AFS) and general information sheets (GIS).

It said that eFAST also accepts Sworn Statement for Foundation/Nonstock, Nonprofit Organizations Forms, General Form for Financial Statements, Special Form for Financial Statements, Affidavit of Non-Operation, to be filed with the AFS/GIS, and Affidavit of Non-Holding of Annual Meeting, to be filed with the GIS.

Online and cashless payment options through the commission’s Electronic System for Payment is also available.

Tags: #SEC, #onlineprocessing, #eSPARC. #eFAST, #COVID19


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