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Office of the Commission Secretary


PRESS RELEASE

SEC: ONLY GOVERNMENT AGENCY WITH A TOP RATING OF VERY GOOD


Still Most Sincere in Anti-Corruption

SEC has ranked best again in the net sincerity ratings of 35 institutions in fighting corruption during the latest 2016 Survey of Enterprises, conducted from 2
February to 6 May 2016. From a range of +69 to -69 points, the SEC is at 55 points, earning a Very Good rating. Others like the DTI is at 43 points, the Office of
the President is at 37 points, and the SSS is at 30 points, all three earning only a Good rating, with a range of +30 to +49 points.

The said survey was conducted by Social Weather Stations (SWS) with support from the Integrity for Investments Initiative (i3) and funding from the United
States Agency for International Development (USAID), and in partnership with the National Competitiveness Council and The Asia Foundation. Random sam-
pling for the said survey was drawn from one-third large enterprises (317 companies) and two-third small and medium enterprises (633 companies), totaling
to 950 companies. Said enterprises were drawn from the ff. areas: Metro Manila (350), Metro Angeles (100), Cavite-Laguna-Batangas (100), Iloilo City (100),
Metro Cebu (100), Metro Davao (100), and Cagayan de Oro-Iligan City (100).

The Commission, in its commitment to improve ease of doing business in the Philippines, continuously strives to meet the expectations from the transacting
public. In addition to the SEC’s Integrated Business Registration System (IBRS) which already allows for the seamless and simultaneous registration of corpora-
tions with the BIR, SSS, PhilHealth, and Pag-ibig, the SEC is launching the Company Registration System (CRS) by the end of this year which will allow the
online registration of corporations and better monitoring of companies through a red flag system.

Per SEC Chairperson Teresita J. Herbosa, the SEC is maximizing automation since it has prevented bribery and has made government transactions much
more convenient to the public. She noted that automation simply means reinventing the Commission so that the SEC may not only deliver faster services to
the public through the use of technology, but also limit face-to-face interactions between its officers and the public to prevent opportunities for graft. The
SEC is likewise very serious in its fight against investment scams through their Enforcement and Investor Protection Department. In Congress, the SEC also sup-
ports legislative initiatives to lift the secrecy of bank deposits especially for securities fraud.

To further bring government services closer to the public, the SEC has opened Satellite Offices in Ali Mall, Robinsons Galleria, SM Manila, SM City North Edsa,
and Robinsons Galleria Cebu, with major cities nationwide to follow.

Per Dir. Ferdinand B. Sales of the SEC’s Company Registration and Monitoring Department, the SEC processed about 25,500 new corporations last year and
regulates about 930,000 corporations, among others. Although the SEC’s earned collections averaged to almost Php 3 Billion per annum for the past 3 years,
it only runs at an average budget of Php 600 Million per year with about 400 employees.

The SEC is an attached agency of the Department of Finance (DOF) which is led by Secretary Carlos G. Dominguez. Sec. Dominguez also heads the Eco-
nomic Management Team (EMT) of the current administration and leads in carrying out our government’s economic policy agenda with anti-corruption initi-
atives.

END
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TABLE OF CONTENTS

SEC Mission, Values and Vision 4


Service Pledge 5
Feedback and Redress Mechanism 5
Directory of SEC Officials 7
List of SEC Frontline Services 11

FRONTLINE SERVICE PROCEDURES


Office of the Commission Secretary (OCS) 34
Office of the General Counsel (OGC) 39
Office of the General Accountant (OGA) 46
Enforcement and Investor Protection Department (EIPD) 72
Markets and Securities Regulation Department (MSRD) 75
Corporate Governance and Finance Department (CGFD) 124
Company Registration and Monitoring Department (CRMD) 173
Information and Communications Technology Department (ICTD) 294
Economic Research and Training Department (ERTD) 305
Human Resource and Administrative Department (HRAD) 313
Financial Management Department (FMD) 324

Annexes 328

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Our Mission, Values, and Vision

We develop and regulate the capital


market and company registration;
promote good corporate govern-
ance; empower investors,
corporators, and entrepreneurs; and
facilitate access to financial products
and resources.

We shall be guided in this mission by


the values of INTEGRITY, By 2022, SEC is the champion of
investor protection; the judicious
PROFESSIONALISM, ACCOUNTABILITY,
administrator of an automated,
INDEPENDENCE, INITIATIVE, and
reliable and secured company
TEAMWORK.
registration and information systems;
and the progressive overseer of a ro-
bust and inclusive capital market in
the ASEAN and Asia-Pacific Region.

INTEGRITY  We are morally upright, honest and sincere in our private and public lives.
PROFESSIONALISM  We consistently implement the law, provide timely and accurate information
to investors, and render efficient and competent service to the public in a fair and
transparent manner.
ACCOUNTABILITY  We abide by prescribed ethical and work standards in government service.
INDEPENDENCE  We act without fear or favor and render sound judgment in the performance of
our duties and responsibilities.
INITIATIVE  We are strategic and forward-looking in the fulfillment of our developmental
and regulatory functions including identification and management of risks.
TEAMWORK  We engage in internal collaborative activities organized to facilitate
inter-departmental communication and cooperation.

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Service Pledge
We, the officials and employees of the O U R P L E D GE
erve you with a smile complaints, and satisfy you, our dear
Securities and Exchange Commission,
clients.
guided by our values of INTEGRITY,
nsure efficiency in service delivery,
PROFESSIONALISM, ACCOUNTABILITY,
and
INDEPENDENCE, INITIATIVE, and
ommit ourselves to address your
TEAMWORK, pledge to:

Feedback and Redress Mechanism


We value your feedback. Please let us
FEEDBACK AND
REDRESS know how we have served you through
any of the following:

 Accomplish our “VISITOR'S PASS and The Department Director shall  Talk to our officer of the day at the
FEEDBACK FORM” provided by the address the complaints against the Human Resource and Administrative
guard on duty. Please indicate your SEC personnel concerned. Department, 3rd floor, Secretariat
feedback or complaints, and return Bldg., PICC Complex, or through
the accomplished form to the  Send your feedback through the telephone numbers 818-1119 and
frontline service provider or the i-Message mo facility in the SEC web- 818-7215.
guard on duty before leaving the site.
SEC premises. Thank you for helping us improve our
services.

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Contact Information of SEC Officials


(as of 03 April 2017)
POSITION FULL NAME OFFICE/DEPARTMENT CONTACT NO. E-MAIL ADDRESS
Office of the Chairperson and Commissioners
SEC Chairperson TERESITA J. HERBOSA 818-5343 tjherbosa@sec.gov.ph
SEC Commissioner ANTONIETA F. IBE 818-5008 afibe@sec.gov.ph
SEC Commissioner EPHYRO LUIS B. AMATONG 818-6857 elbamatong@sec.gov.ph
SEC Commissioner BLAS JAMES G. VITERBO 818-6896 bjgviterbo@sec.gov.ph
SEC Commissioner EMILIO B. AQUINO 818-8142 ebaquino@sec.gov.ph
Office of the Commission Secretary
Officer-in-Charge ARMANDO A. PAN JR. 888-8141 armandopanjr@sec.gov.ph
Office of the General Counsel
SEC General Counsel CAMILO S. CORREA 818-5418 cscorrea@sec.gov.ph
Office of the General Accountant
SEC General EMMANUEL Y. ARTIZA 818-9763 eyartiza@sec.gov.ph
Accountant
Enforcement and Investor Protection Department
SEC Director JOSE P. AQUINO Office of the Director 818-6337 jose.aquino@sec.gov.ph
Officer-in-Charge JONATHAN PANCRACIUS D. Investigation and Prosecution 818-6047 jpdpaguirigan@sec.gov.ph
PAGUIRIGAN Division 818-5704
SEC Assistant Director OLIVER O. LEONARDO Market Surveillance Division Ortigas: 584-5324 ooleonardo@sec.gov.ph
ALFONSO D. LANUZA JR. Special Operations Division 818-7650 adlanuzajr@sec.gov.ph

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Contact Information of SEC Officials


(as of 03 April 2017)
POSITION FULL NAME OFFICE/DEPARTMENT CONTACT NO. E-MAIL ADDRESS
Markets and Securities Regulation Department
SEC Director VICENTE GRACIANO P. Office of the Director 818-5703 vgpfelizmenio@sec.gov.ph
FELIZMENIO JR.
Markets and Intermediaries 818-7164 / 818-8178
Division
Securities Registration Division 818-6080 / 818-8508
SEC Assistant Director EMMA A. VALENCIA Investment Products and 818-2016 eavalencia@sec.gov.ph
Services Division
Corporate Governance and Finance Department
SEC Director JUSTINA F. CALLANGAN Office of the Director 818-6103 jfcallangan@sec.gov.ph
SEC Assistant Director RACHEL ESTHER J. Licensing Division 818-5952 rejremalante@sec.gov.ph
GUMTANG-REMALANTE
SEC Assistant Director ROSARIO CARMELA B. Corporate Governance 818-7264 rcgaustria@sec.gov.ph
GONZALEZ-AUSTRIA Division
SEC Assistant Director LEONORA S. TANDOC Monitoring Division 818-5476 / 818-9927 lstandoc@sec.gov.ph
Company Registration and Monitoring Department
SEC Director FERDINAND B. SALES Office of the Director 818-5811 fbsales@sec.gov.ph
SEC Assistant Director KENNETH JOY A. QUIMIO Corporate and Partnership 818-9225 / 818-0763 kjaquimio@sec.gov.ph
Registration Division
Officer-in-Charge SHEARA L. LUPANGO- Compliance Monitoring 818-2886 sltamayo@sec.gov.ph
TAMAYO Division
Officer-in-Charge GLORIA P. MANZON Financial Analysis and Audit 818-5922 gpmanzon@sec.gov.ph
Division
Officer-in-Charge DANIEL P. GABUYO Corporate Filing and Records 818-8738 / 818-8803 dpgabuyo@sec.gov.ph
Division

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Contact Information of SEC Officials


(as of 03 April 2017)
POSITION FULL NAME OFFICE/DEPARTMENT CONTACT NO. E-MAIL ADDRESS
Company Registration and Monitoring Department (continued)
Officer-in-Charge SHEARA L. LUPANGO- Licensing Unit 818-7187 sltamayo@sec.gov.ph
TAMAYO
Officer-in-Charge SAMPAGUITA R. LADRIDO Green Lane Unit 818-5235 srladrido@sec.gov.ph
Public Assistance 818-1119 / 818-7215
Information and Communications Technology Department
Officer-in-Charge LILIA O. PINZON Office of the Director Ortigas: 584-7236 lopinzon@sec.gov.ph
SEC Assistant Director GRACE MARTHA T. Information Systems Ortigas: 584-7204 gmtamberong@sec.gov.ph
AMBERONG Development and
Management Division
SEC Assistant Director ISMA C. GONZALES Electronic Records Ortigas: 584-5285 icgonzales@sec.gov.ph
Management Division
HERBERT E. MENDOZA Systems Operation Division Ortigas: 584-7234 hemendoza@sec.gov.ph
Economic Research and Training Department
Officer-in-Charge LILIA O. PINZON Office of the Director 818-6219 lopinzon@sec.gov.ph
SEC Assistant Director ROSE ANN S. ESPIRITU Strategic Management and 818-7238 rsespiritu@sec.gov.ph
Planning Division
SEC Assistant Director VIOLETA V. INFANTE Economic Research and 818-6117 vvinfante@sec.gov.ph
Statistics Division
SEC Assistant Director JERNEL R. MACATANGAY Training Division 818-7256 jrmacatangay@sec.gov.ph

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Contact Information of SEC Officials


(as of 03 April 2017)
POSITION FULL NAME OFFICE/DEPARTMENT CONTACT NO. E-MAIL ADDRESS
Human Resource and Administrative Department
SEC Director GERARDO F. DEL ROSARIO Office of the Director 818-6165 gfdelrosario@sec.gov.ph
Human Resource 818-6072
Management Division 818-5714
SEC Assistant Director NOLIVIENNE C. ERMITAÑO Learning Resource and 818-5994 ncermitaño@sec.gov.ph /
Information Division nolivienne@gmail.com
Officer-in-Charge MARCELO Q. RABARA General Services Division 818-5516 / 818-1269 mqrabara@sec.gov.ph
Officer-in-Charge ROSELLER N. CAPILA Procurement Division 818/5826 / 818-5330 rncapila@sec.gov.ph
Financial Management Department
SEC Director ADELAIDA C. NAVARRO- Office of the Director 818-6585 aida.banaria@sec.gov.ph
BANARIA
Officer-in-Charge LESTER V. DELA MERCED Budget and Fiscal Division 818-5517 lvdelamerced@sec.gov.ph
Officer-in-Charge DONDIE Q. ESGUERRA Accounting Division 818-6101 / 584-6058 dqesguerra@sec.gov.ph
SEC Assistant Director DAISY B. PABUAYA Treasury Division 818-5549 / 818-5825 dbpabuaya@sec.gov.ph
SEC Extension Offices
Officer-in-Charge REGINA MAY M. CAJUCOM Baguio (074) 442-8170 / 442-8171 rmmcajucom@sec.gov.ph
SEC Director RENATO V. EGYPTO Cagayan de Oro (088) 857-4325 / 857-7725 rvegypto@sec.gov.ph
SEC Director LINDEZA R. GAVINO Cebu (032) 253-5337 / 253-6987 lrgavino@sec.gov.ph
SEC Director JAVEY PAUL D. FRANCISCO Davao (082) 298-2170 / 298-1983 jpdfrancisco@sec.gov.ph
Officer-in-Charge RUSSELL I. ILDESA Iloilo (033) 337-9984 / 335-0025 riildesa@sec.gov.ph
SEC Director MARYLOU D. CASTILLO Legaspi (052) 480-8272 mdcastillo@sec.gov.ph
Acting Director RICHARD R. LAUS Tarlac City (045) 491-0140 / 491-0102 rrlaus@sec.gov.ph
SEC Director JESUS SALVADOR A. URO Zamboanga (062) 991-7163 / 993-1437 jsauro@sec.gov.ph

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Issuance of Commission En None Request letter addressed to the 27 minutes 3rd floor — Office of the
Banc Resolutions Commission Secretary Commission Secretary (OCS)

Issuance of “Certified True Miscellaneous Fees: Request letter addressed to the 47 minutes 3rd floor — OCS
Copies” (CTC) of P50 per document plus Commission Secretary
Memorandum Circulars, P10 per page
Minutes of the Meeting,
and Resolutions

Issuance of certification on None Request letter addressed to the 27 minutes 3rd floor — OCS
certain acts of the Commission Secretary
Commission

Media request for None Request letter addressed to the 1-2 hours 3rd floor — OCS
interview, information, Commission Secretary
and/or updates

Filing of Petition/s or P2,020 (inclusive of 1% Legal Re- 1) Petition or Memorandum on 1-1.5 hours 3rd floor — Office of the
Appeal/s search Fee) Appeal General Counsel (OGC)
2) Supporting documents (please
see 2006 SEC Rules of Proce-
dure)

Filing of Request for P10,000 1) Request letter for opinion 2 hours 3rd floor — OGC
Legal Opinion 2) Supporting documents (please
see Memorandum Circular No.
15, s. 2003)

Request for Certified True For Certified true Copy - P50 per 1) Valid ID 30-40 minutes 3rd floor — OGC
Copy (CTC) or plain copy document plus P10 per page; For 2) Authorization Letter, if necessary
of documents relating to Plain Copy – P10 per page
cases

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Public Assistance on Walk- None 1) Valid ID 13-23 minutes 3rd floor — OGC
in/Phone-in Legal Queries 2) Documents pertinent to the le-
gal query, if any
Accreditation of P10,100 (inclusive of 1% Legal Please secure checklist from the Pre-evaluation = 1 hour 3rd floor — Office of the
Appraisal Companies and Research Fee) department Processing = 1 day General Accountant (OGA)
Professional Services Annual Fee: P2,000 Mailing Period = 30 days
Organization

Accreditation of Credit P50,500 (inclusive of 1% Legal Please secure checklist from the Pre-evaluation = 1 hour 3rd floor — OGA
Rating Agencies Research Fee) department Processing = 1 day
Annual Fee: P15,000 Mailing Period = 30 days

Request for Exemptive Re- P50,000 per issue and per 1) Request letter for Exemptive Pre-evaluation = 20 minutes 3rd floor — OGA
lief company Relief Processing = 1-3 days
2) Supporting documents, if any Mailing Period = 30 days

Request for Opinion on P25,000 (Filing Fee for complex 1) Request letter for Opinion Pre-evaluation = 20 minutes 3rd floor — OGA
Accounting Matters issues) 2) Supporting documents, if any Processing = 1-3 days
Mailing Period = 30 days
P10,000 (Filing Fee for non-
complex issues)

Accreditation of External Group A: P20,000 Please secure checklist from the Pre-evaluation = 1 hour 3rd floor — OGA
Auditor/Auditing Firms Group B: P15,000 department Processing = 2 days
Group C: P5,000 Mailing Period = 40 days

Receipt and Filing of Com- P2,020 (inclusive of 1% Legal 1) 1-2 hours Ground Floor — North Wing —
plaint Research Fee) with on Non- Enforcement and Investor
Forum Protection Department (EIPD)

2) documents,

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application for Certificate Not more than P500 Million worth 1) SEC Form 12-1 20-23 days Ground Floor — North Wing
of Permit to offer Securities of securities: 2) Audited Financial Statements Markets and Securities
for Sale and Order of 0.10% of the maximum (AFS) and Additional Regulation Department (MSRD)
Registration for Equities, aggregate price of the securities components of the AFS
Debt Securities, REIT to be offered 3) Statement of Management
More than P500 Million but not Responsibility on the AFS
more than P750 Million: 4) Required Exhibits (Part VII of An-
P500,000 plus 0.075% of the nex “C”)
excess over P500 Million
More than P750 Million but not
more than P1 Billion:
P687,500 plus 0.05% of the
excess over P750 Million
More than P1 Billion:
P812,500 plus 0.025% of the
excess over P1 Billion
(In case of options or warrants
which have no issue value:
Minimum of P50,000 in addition to
the diminishing fee due on the
underlying shares.)

Petition for Voluntary P10,000 1) Petition for Revocation 18-20 days Ground Floor — North Wing —
Revocation of Permit to 2) Board Resolution MSRD
offer Securities for Sale and 3) List of Stockholders
Order of Registration for 4) Proposed Notice of Filing of
Equities, Debt Petition
Securities, REIT 5) Copy of Official Receipt
6) All relevant books and papers
7) Notice of Publication

Application for 1/10% of 1% of the aggregate SEC Form 10.1 6-7 days Ground Floor — North Wing —
Confirmation of Exempt value of securities to be sold or MSRD
Transaction issued but in no case less than
P1,000

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application for Exemption 1/10 of 1% of the maximum 1) Application Letter with support- 1-2 month/s Ground Floor — North Wing —
from Registration of Stock aggregate price or issued value of ing documents MSRD
Option Plan the securities plus 1% Legal 2) Please see the checklist of re-
Research Fee quirements here or secure
checklist from the department

Application for Exemption 1/10 of 1% of the maximum 1) Application Letter with 1-2 month/s Ground Floor — North Wing —
from Registration of aggregate price or issued value of supporting documents MSRD
Limited Public Offering and the securities plus 1% Legal 2) Please see the checklist of re-
Other Exempt Research Fee quirements here or secure
Transaction checklist from the department

Review of Information Issuer — P7,575 1) SEC Form 20-IS 4-5 hours Ground Floor — North Wing —
Statement prior to its Other than Issuer — P5,050 2) Management Report MSRD
Distribution in Stockholders’ (inclusive of 1% Legal Research
Meeting Fee)

Request for Exemptive Exemptive Relief — P50,000 per Request letter with supporting docu- 16-20 days Ground Floor — North Wing —
Relief/ Confidential issue/per company ments MSRD
Treatment of Information
Filed Confidential Treatment—None

Accreditation of Surety P5,050 All documents enumerated in Form 3.5-4 hours Ground Floor — North Wing —
Companies (inclusive of 1% Legal Research SCA-0001 MSRD
Fee)

Request for SEC None SEC MSRD Request Form Pre-processing: 40 minutes Ground Floor — North Wing —
Clearance Processing: 3 hours MSRD

Request for Comment/ None 1) SEC MSRD Request Form 3 days Ground Floor — North Wing —
Recommendation on the 2) Articles of Incorporation/ MSRD
Application for Articles of Partnership/By-Laws and
Incorporation/ Partnership/ Amendments thereto
By-Laws and Amendments
relative thereto

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application of Registration P50,500 1) Cover Sheet 3 months Ground Floor — North Wing —
as an Exchange/Exchange (inclusive of 1% Legal Research 2) SEC Form-33 and SEC Form-33- MSRD
-SRO/Clearing Agency/ Fee) SRO
Clearing Agency SRO and 3) Statements and Exhibits
Depository required by SEC Form-33 and
SEC Form-33-SRO
4) Copy of the latest GIS
5) Copy of the license of the CPA
6) Manual on Corporate
Governance

Application of Registration None 1) Cover Sheet 1 month Ground Floor — North Wing —
as Registrar of Qualified 2) Application for Registration (SEC MSRD
Buyer Form 39-Registrar/AMD)
3) Copy of Internal Procedures

Application of Alternative P50,500 Please secure checklist from the 3 months Ground Floor — North Wing —
Trading System and Central (inclusive of 1% Legal Research department MSRD
Trade Reporting System Fee)

Application for Over-the- P50,500 1) Cover Sheet 3 months Ground Floor — North Wing —
Counter Market/ (inclusive of 1% Legal Research 2) SEC Form 39-BD MSRD
Association of Securities Fee) 3) Statements and Exhibits
Brokers and Dealers required by SEC Form 39-BD
4) Copy of the latest GIS
5) Copy of the license of the CPA
6) Manual on Corporate
Governance

Application for License as P10,100 SEC Form ICA 7-1 22 days Ground Floor — North Wing —
a Mutual Fund Company (inclusive of 1% Legal Research (Processed together with the Corporate Governance and
(MFC) Fee) Registration Statement) Finance Department (CGFD)

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application for Please see SEC Memorandum 1) Accomplished SEC Form 12-1, 22 days from the date of Ground Floor — North Wing —
Certificate of Permit to Sell Circular No. 03, series of 2017 as amended (Registration submission of complete CGFD
Securities and Order of Statement) requirements and payment of fees
Registration for 2) Exhibits to be submitted
Mutual Fund Companies together with Registration
(MFC), Exchange Statement
Traded Funds (ETC) and 3) The checklist of requirements is
Proprietary/Non-Proprietary downloadable at the SEC
Shares, Membership website.
Certificates, and
Timeshares

Application for P5,050 Please secure checklist of 22 days upon receipt of Ground Floor — North Wing —
Accreditation as (inclusive of 1% Legal Research requirements from the Department complete documentary CGFD
Corporate Governance Fee) requirements
Institutional Training
Provider

Request for Approval of P2,020 Please secure checklist of 15 days upon receipt of complete Ground Floor — North Wing —
In-House Corporate (inclusive of 1% Legal Research requirements from the Department documentary requirement CGFD
Governance Trainings/ Fee)
Seminars

Request for Exemptive P50,000 Request for Exemption/Confidential 5-7 days Ground Floor — North Wing —
Relief/Confidential Treat- per issue per company Treatment and required exhibits CGFD
ment

Petition for Voluntary P10,100 Petition for Voluntary Revocation 30 days* Ground Floor — North Wing —
Revocation (inclusive of 1% Legal Research and required exhibits under SRC CGFD
Fee) Rule 13

*inclusive of the 15 business days from the publication of the Notice to the Public regarding the Petition for Voluntary Revocation.

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Monitoring of Financing/ Assessed Fees/Penalties 1) Monitoring Slip (from the CGFD 30 minutes to 2 hours Ground Floor — North Wing —
Lending Companies/ or endorsed from other (depends if compliant or not) CGFD
Foundations/Microfinance departments);
NGOs 2) Articles of Incorporation (AI) and
By-Laws (BL);
3) Latest Amended Articles of
Incorporation (AAI) and
Amended By-Laws (ABL);
4) Latest due General Information
Sheet;
5) Latest due Financial Statements;
6) Copy of the Stock and Transfer
Book/Membership Book
Registration; and
7) Other documents/reports (per
processor’s instruction).

Monitoring of MFCs, ETFs, Amount imposed Information Statement (SEC Form 30 minutes to 2 hours Ground Floor — North Wing —
Public Companies (PC), 20-IS) (depends if compliant or not) CGFD
Issuers of Registered
Unlisted Securities, and Issu-
ers of Proprietary and Non-
Proprietary Shares, Mem-
bership Certificates and
Timeshares

Monitoring Application for Amount imposed Request Slip 1.5 to 2 hours Ground Floor — North Wing —
Amendment of Articles of CGFD
Incorporation (AI) and/or
By-Laws (BL), and
Clearance Publicly Listed
Companies (PLC), MFCs,
ETFs, PCs, Issuers of
Proprietary and Non-
Proprietary Shares, Mem-
bership Certificates and
Timeshares

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Request for Comment on None Request Slip 2.5 hours Ground Floor — North Wing —
AI and/or BL CGFD

Monitoring of Compliance Amount Imposed Please secure checklist of 1-1.5 hours Ground Floor — North Wing —
with Corporate requirements from the Department CGFD
Governance Regulations
of PLCs, MFCs, ETFs, PCs,
and Issuers of Membership
Certificates and Timeshares

Handling of Complaints Please see SEC Memorandum Complaint Letter/Form and 30-32 days Ground Floor — North Wing —
Filed Against Covered Circular No. 03, series of 2017 Supporting documents and any CGFD
Institutions additional documents that the
Commission may require.

Registration of Stock and Stock Corp.: I/5 of 1% of the Please secure checklist of Within 8 working hours Ground Floor — East Wing — Com-
Non-Stock, Non-Profit authorized capital stock but not requirements from the Department pany Registration and Monitoring
Corporations and less than P2,000 or the subscription Department (CRMD) - Greenlane
Partnerships price of the subscribed capital Unit
stock, whichever is higher

Non-stock corp.:
P1,050
(inclusive of 1% Legal Research
Fee)

Partnership:
1/5 of 1% of the partnership’s
capital but not less than P2,000

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List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application for Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing — CRMD
Amendment of Stock and Circular No. 03, series of 2017 requirements at www.sec.gov.ph or — Corporate and
Non-Stock secure checklist from the depart- Partnership Registration Division
Domestic Corporations ment (CPRD)

Application for Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing — CRMD
Amendment of Circular No. 03, series of 2017 requirements at www.sec.gov.ph or — CPRD
Partnerships secure checklist from the depart-
ment

Conversion of Branch Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing — CRMD
Office to Representative Circular No. 03, series of 2017 requirements at www.sec.gov.ph or — CPRD
Office (Vice Versa), secure checklist from the depart-
Regional Area ment
Headquarters (RHQ) to
Regional Operating
Headquarters (ROHQ)
(Vice Versa), Change/
Substitution of Resident
Agent, Withdrawal of
License and Other
Amendments of Foreign
Corporations

Application of Foreign Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing — CRMD
Corporations Circular No. 03, series of 2017 requirements at www.sec.gov.ph or — CPRD
secure checklist from the depart-
ment

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Processing Services for Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing — CRMD
Voting Trust Agreements Circular No. 03, series of 2017 requirements at www.sec.gov.ph or — CPRD
secure checklist from the depart-
ment

Actions (Two [2] Party Docket Fee of Three Thousand Verified Complaint/Petition (SEC Within 30 days Ground Floor — East
Complaints/Petitions) Thirty (Php3,030) Pesos inclusive Rules of Procedure, Rule 3-4 and 3- Wing — CRMD —
of Legal Research Fee (SEC Rules 9), Certificate of Non-Forum CPRD
of Procedure, Rule 3-15 in Shopping (SEC Rules of Procedure,
accordance with the Schedule Rule 3-5), Affidavits, Documents,
of Fees forming part of the SEC and Other Supporting Documents
Rules) (SEC Rules of Procedure, Rule 3-14),
and Monitoring Clearance.

Petition for Correction Docket Fee of Three Verified Petition (SEC Rules of Proce- Within 30 days Ground Floor — East Wing —
Thousand Thirty (Php3,030) Pesos dure, Rule 3-4 and 3-9), Certificate CRMD — CPRD
inclusive of Legal Research Fee of Non-Forum Shopping (SEC Rules
(SEC Rules of of Procedure, Rule 3-5), Affidavits,
Procedure, Rule 3-15 in Documents, and Other Supporting
accordance with the Documents (SEC Rules of Proce-
Schedule of Fees forming part of dure, Rule 3-14),
the SEC Rules) Corrected Articles of
Incorporation, and Monitoring
Clearance.

Application for Licensing of Please see SEC Memorandum Please see the checklist of Within 15 days Ground Floor — East Wing —
Financing Companies Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — Licensing Unit (LU)
secure checklist from the depart-
ment

Application for Please see SEC Memorandum Please see the checklist of Within 15 days Ground Floor — East Wing —
Registration of Capital Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — LU
Market Institutions secure checklist from the depart-
ment

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Application for Please see SEC Memorandum Please see the checklist of Within 2 hours Ground Floor — East Wing —
Registration of Capital Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — LU
Market Professionals secure checklist from the depart-
ment

Request for Regular Please see Guidelines on the Please see the checklist of Varies Ground Floor — East Wing —
Monitoring of Domestic Imposition of fines or penalties for requirements at www.sec.gov.ph or CRMD — Compliance Monitoring
Corporations (Ordinary non-compliance with reportorial secure checklist from the depart- Division (CMD)
Stock and Non-Stock) and requirements; Memorandum ment
Foreign Corporations Circular No. 8, series of 2009
(Branch Offices, (MC8-2009); Amended rules
Representative Offices, governing the distribution of
Regional Area excess profits of corporation;
Headquarters and Memorandum Circular No. 8,
Regional Operating Series of 1998 (MC8-1998); and
Headquarters) Office Order No. 298, Series of
2010

Process Compliance with Please see SEC Memorandum Please see the checklist of 1-1.5 hours Ground Floor — East Wing —
Securities Deposit Circular No. 2, series of 2012 requirements at www.sec.gov.ph or CRMD — Compliance Monitoring
secure checklist from the depart- Division (CMD)
ment

Petition to Lift Order of Rev- Please see Guidelines on the Please see the checklist of Processing = 1-2 hours Ground Floor — East Wing —
ocation/Suspension Imposition of fines or penalties requirements at www.sec.gov.ph or Approval = varies CRMD — CMD
for non-compliance with secure checklist from the depart-
reportorial requirements; ment
Memorandum Circular No. 8,
series of 2009 (MC8-2009);
Amended rules governing the
distribution of excess profits of
corporation; Memorandum
Circular No. 8, Series of 1998
(MC8-1998); and Office Order
No. 298, Series of 2010

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)

Application for Licensing of Please see SEC Memorandum Circular Please see the checklist of Within 2 hours Ground Floor — East Wing —
Lending Companies No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — LU
secure checklist from the department

Request for Payment in Please see Guidelines on the Please see the checklist of Processing = 1-2 hours Ground Floor — East Wing —
Installment or Reduction of Imposition of fines or penalties for requirements at www.sec.gov.ph or Approval = varies CRMD — CMD
Fines non-compliance with reportorial secure checklist from the department
requirements; Memorandum
Circular No. 8, series of 2009 (MC8-
2009); Amended rules governing the
distribution of excess profits of
corporation; Memorandum Circular
No. 8, Series of 1998 (MC8-1998);
and Office Order No. 298, Series of
2010

Monitoring of None Request for Monitoring Varies Ground Floor — East Wing —
Corporations where there is CRMD — CMD
more than one set of
General Information Sheet
(GIS) filed with the
Commission

Compliance with SEC Please see SEC Memorandum Circular Please see the checklist of Varies Ground Floor — East Wing —
Memorandum Circular No. No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — CMD
14, Series of 2013 secure checklist from the department
(Guidelines Covering the
Use of Properties that
Require Ownership
Registration as Paid-Up
Capital)

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)

Petition for Cancellation or Please see SEC Memorandum Please see the checklist of Varies Ground Floor — East Wing —
Substitution of Payment in Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — CMD
relation to the use of properties secure checklist from the depart-
that require Ownership ment
Registration as Paid-Up Capital
(SEC Memorandum Circular No.
14, series of 2013)

Name Verification Services P100 per allowed name for 30 Name Verification Form, Name Within 20 minutes Ground Floor — East Wing —
days Verification Slip CRMD — Corporate Filing and
Records Division (CFRD)

Issuance of Certificates of No P300 for Affirmative/Negative Please see the checklist of Within 3 days Ground Floor — East Wing —
Derogatory Records/Affirmative/ Certification, P500.00 for Cer- requirements at www.sec.gov.ph or CRMD — CFRD
Negative tificate of No Derogatory secure checklist from the depart-
Information, plus penalty im- ment
posed, if any

Registration of Stock and Please see SEC Memorandum Registration Form 8-10 minutes Ground Floor — East Wing —
Transfer/Membership Book Circular No. 03, series of 2017 CRMD — CFRD

Receiving of Applications for None Please see the checklist of 40-45 minutes Ground Floor — East Wing —
New Registration (Domestic/ requirements at www.sec.gov.ph or CRMD — CFRD
Foreign)/Articles of secure checklist from the depart-
Partnership ment

Receiving of Applications for None Please see the checklist of 20-30 minutes Ground Floor — East Wing —
Amendment of Articles of requirements at www.sec.gov.ph or CRMD — CFRD
Incorporation/By-Laws/Articles of secure checklist from the depart-
Partnership/Articles of Merger ment
and Consolidation

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)

Releasing of Approved Primary None Please see the checklist of 15-20 minutes Ground Floor — East Wing —
Registration/Amendments/ requirements at www.sec.gov.ph or CRMD — CFRD
Articles of Merger and secure checklist from the department
Consolidation

Data Entry of Applications for None None 10-15 minutes Ground Floor — East Wing —
Amendment/Articles of Merger CRMD — CFRD
and Consolidation and Retrieval
of Records

Issuance of Authenticated None Request letter from government 45 minutes - 1 hour Ground Floor — East Wing —
Copies for Government agencies CRMD — CFRD
Agencies

Amendment of Article VII of Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing —
Articles of Incorporation and Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — Financial
Other Applications (Confirmation secure checklist from the department Analysis and Audit Division
of Valuation or Exempt Transac- (FAAD)
tion [Other Than Cash Payment
on Subscription], Property
Dividend Declaration,
Quasi-Reorganization, Equity
Restructuring, Creation of
Additional Paid-in Capital, and
Dissolution of Domestic
Corporation)

Merger/ Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing —
Consolidation Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — FAAD
secure checklist from the department

Cash or Stock Dividend Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing —
Declaration Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — FAAD
secure checklist from the department

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)

Certification of Capital Please see SEC Memorandum Please see the checklist of Within 9 working days Ground Floor — East Wing —
Structure/Percentage of Circular No. 03, series of 2017 requirements at www.sec.gov.ph or CRMD — FAAD
Ownership secure checklist from the depart-
ment

Request for Copy of the SEC a) Main report File a request: 30-40 minutes Ground Floor — West Wing —
Publication of the Philippines’ a.1) Narrative (in PDF format) a) In person Economic Research and
Top Corporation - P3,000 b) Phone call at telephone num- Training Department (ERTD) —
a.2) 13 schedules (in MS ber 818-6117 or thru facsimile Economic Research and
Excel format) - P5,000 number 818-5526. Statistics Division (ERSD)
b) Directory c) Via email to
a.1) In PDF format - P5,000 mtmbersabal@sec.gov.ph
a.2) In MS Excel format -
P10,000

Request for Certification of Rank- P300 — certification fee File a request: 1-1.5 hours Ground Floor — West Wing — ERTD
ing in the Philippines’ Top Corpo- a) In person — ERSD
rations b) Phone call at telephone num-
ber 818-6117 or thru facsimile
number 818-5526.
c) Via email to
mtmbersabal@sec.gov.ph

Registration for P7,500 (AP) 1) Download the appropriate form 30 minutes Ground Floor — West Wing — ERTD
Certification Seminars: P5,500 (CSR) and accomplish the same. — Training Division (TD)
Associated Persons (AP) and *the fees include 2) Submit the accomplished form
Certified Securities P500 examination fee. together with your registration
Representatives (CSR) fee personally to the Training
Division.

Registration for Regular and P2,500 (FI first time takers) 1) Download the appropriate form 30 minutes Ground Floor — West Wing — ERTD
Special Examination: Associated P500 (CSR and MF first time and accomplish the same. — TD
Person (AP), Certified Securities takers) 2) Submit the accomplished form
Representatives (CSR), Mutual P500 (per AP module) together with your registration
Funds (MF) and Fixed Income (FI) P500 (retake) fee personally to the Training
Salesman Division.

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Releasing of None Proceed to the ERTD Office for 6-8 minutes Ground Floor — West Wing — ERTD
Congratulatory Letter personal appearance. An — TD
authorized representative shall sub-
mit authorization letter addressed to
ERTD Director.

Reprinting of None for data correction For data correction: (1) Request 30 minutes Ground Floor — West Wing — ERTD
Congratulatory Letter P300 for reprinting in case of loss letter addressed to ERTD Director; — TD
(2) Original Congratulatory letter
For reprinting (in case of loss): (1)
Request letter addressed to ERTD
Director; (2) Photocopy of 2 valid
IDs; (3) Affidavit of loss

Student Orientation/ None Send a request letter addressed to Processing of request = 30 minutes Ground Floor — West Wing — ERTD
Educational Visit the Chair signed by an authority of Approval of request = 1-2 days — TD
the university/college, and wait for
confirmation/approval of
request.

Library Services — None 1) Call telephone numbers 818- 5 minutes Ground Floor — West Wing — Hu-
reference Queries 5994 man Resource and Administrative
2) Send e-mail queries at Department (HRAD) -
lrid@sec.gov.ph Library
3) Walk-in and ask library person-
nel for queries

Access to Library None 1) Proceed to the catalog or the 6 minutes Ground Floor — West Wing — HRAD
Resources computer database for access — Library
(Room-Use Reading) to library collection.
2) Ask assistance from the library
personnel for material/s needed
or other reference inquiries

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Photocopy/Printing P5 per page (plain copy) 1) Locate material for printing/ 10-30 minutes (includes payment Ground Floor — West Wing — HRAD
Services P10 per page (authenticated) photocopying at cashier and printing) — Library
2) Ask assistance from the library
personnel for material/s
needed.

Issuance of Bid P500.00-P10,000.00 1) Payment for the Bidding 18-20 minutes 3rd floor — HRAD — Procurement
Documents Documents Division (PD)
2) Letter of Intent (for Consultancy
projects)
3) Proof of Invitation/Letter of
Intent (for projects to be
undertaken thru Negotiated
Procurement/Consultancy)

Issuance of Notice of None Proceed to HRAD-Procurement Divi- 4-5 minutes 3rd floor — HRAD — PD
Award / Notice to sion, 3rd Floor, Secretariat Building,
Proceed PICC Complex, Pasay City, and
present ID/any proof of
authorization to receive the
document

Posting of Performance None Proceed to HRAD-Procurement Divi- 2 minutes 3rd floor — HRAD — PD
Security (For Surety Bond) sion, 3rd Floor, Secretariat
Building, PICC Complex, Pasay City,
then present ID/any proof of author-
ization to receive the bonds and
files with other pertinent
documents of the project

Posting of Performance Depends on the project’s Ap- Proceed to HRAD-Procurement Divi- 12 minutes 3rd floor — HRAD — PD
Security (For Manager’s proved Budget for the Contract sion, 3rd Floor, Secretariat Building,
Check/Cash) (ABC) PICC Complex, Pasay City, for
Payment Assessment Form (PAF),
then pay the bond or deposit the
check in the Cashier Office

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Release of Perfected Con- None Proceed to HRAD-Procurement Divi- 2 minutes 3rd floor — HRAD — PD
tracts/Purchase sion, 3rd Floor, Secretariat Building,
Orders/Work Orders PICC Complex, Pasay City, then
present ID/any proof of
authorization to receive the
Documents

Purchase of PIN Mailer P100 Proceed to the Cashier, fill up 8 minutes (queuing/waiting time Ground Floor — West Wing — Finan-
Purchase Order Slip (POS), then pay not included) cial Management
the corresponding fee Department (FMD) - Cashier

Purchase of Service Stamp P40 Proceed to the cashier then pay the 2 seconds Ground Floor — West Wing — FMD
corresponding fee — Cashier

Payment of Fees for Depends on type of transaction/s Proceed to the cashier, present PAF, 5 minutes (queuing/waiting time Ground Floor — West Wing — FMD
Registration Transaction then pay the corresponding fee not included) — Cashier

Payment of Fees for Non- Depends on type of transaction/s Proceed to the cashier, present PAF, 5 minutes (queuing/waiting time Ground Floor — West Wing — FMD
Registration Transaction then pay the corresponding fee not included) — Cashier

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Request for Listings Please see SEC Memorandum 1) Filing of request = 1 hour 7th floor — Information and Com-
Circular No. 03, series of 2017 Processing of Request = 15 days munications Technology Depart-
2) Releasing of Request = 20-30 ment (ICTD)
minutes

3) Official Receipt (OR) to be is-


sued by cashier upon payment

Request for Copy/Copies Please see the schedule of fees Option 1— For pick-up 30-45 minutes Basement — ICTD — Public Refer-
of Document/s and charges here; or see SEC Call SEC Express Hotline no. ence Unit (PRU)
Memorandum Circular No. 03, 737-8888 OR go online at
series of 2017 www.secexpress.ph
to schedule an appointment and
print the Appointment Form re-
ceived through e-mail

Request for Copy/Copies Please see the schedule of fees Option 2— For delivery Processing of request = 1-1.5 hours Basement — ICTD — PRU
of Document/s and charges here and add Call SEC Express Hotline no. Mailing Period = 3-4 days
courier fee for delivery; or see SEC 737-8888 OR go online at
Memorandum Circular No. 03, www.secexpress.ph
series of 2017 to order for delivery

Receiving of Documents: None Option 1— Walk-in submission of 3-5 minutes Ground Floor — ICTD — Central Re-
Reports/Reportorial reports/reportorial requirements: ceiving and Releasing Unit
Requirements (i.e. GIS and Proceed to the Central
AFS) Receiving and Releasing Unit,
Ground Floor, SEC Bldg. or at any
Satellite Office and present
4 sets/copies of reports/reportorial
requirements

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
Receiving of Documents: Courier fee Option 2 — Online submission of Submission only = 8-10 minutes Ground Floor — ICTD — Central Re-
Reports/Reportorial reports/reportorial requirements: ceiving and Releasing Unit
Requirements (i.e. GIS and (submission only or with return With Return Copy = 8-10 minutes
AFS) copy): Go online at plus 3-4 days
www.sens.secexpress.ph and ac-
complish SEC Express Nationwide
Submission (SENS) Form then pro-
ceed to a SENS Air21 Partner Courier
and present
4 sets/copies of the documents for
submission

Receiving of correspond- None Option 3 — Walk-in delivery of cor- 8-10 minutes Ground Floor — ICTD — Central Re-
ences and respondences and documents other ceiving and Releasing Unit
documents other than re- than reports: Present letters/
ports correspondence/documents other
than reportorial requirements

Releasing of None Documents from operating depart- 30-40 minutes Ground Floor — ICTD — Central Re-
Documents/ ments transmitted through mail and ceiving and Releasing Unit
Correspondences from courier
Operating Departments

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal circumstances)
SATELLITE OFFICE
Name Verification Service P40.00- reservation for 30 days; Name Verification Form 10-15 minutes / company CRMD — Satellite
P80.00 – reservation for 60 Confirmation Reservation Notice name Office
days;
P120.00 – reservation for 90
days
Processing of Applications Please see SEC Memorandum Confirmation Reservation Notice 1 day and 1 hour CRMD — Satellite
for Primary Registration of Circular No. 03, series of 2017 Office
Stock and Non-Stock Cor-
porations

Processing of Applications for Filing fee: 1/5 of 1% of the Part- Confirmation Reservation Notice 1 day and 1 hour CRMD — Satellite
Partnerships nership’s capital but not less Office
than P2,000.00 plus 1% Legal
Research Fee (LRF)

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Table of Contents

List of SEC Frontline Services

FRONTLINE SERVICE FEES FORMS/REQUIREMENT PROCESSING TIME OFFICE/DEPARTMENT


(MC No. 03, series of 2017) (under normal cir-
cumstances)
SATELLITE OFFICE
Processing of Applications for Please see SEC Memorandum Please see the checklist of require-
Amendment of Stock and Circular No. 03, series of 2017 ments at www.sec.gov.ph or secure
Non-Stock Domestic Corpo- checklist from the department
rations

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Table of Contents

Frontline Service Procedures

OFFICE OF THE COMMISSION SECRETARY

1) Maintains the official records of the en banc;


2) Prepares the agenda and notices for en banc meetings;
3) Maintains custody over documents it has acted on, or are directly filed with it, unless otherwise directed by the en banc, including
certificates of titles of real estate properties of the Commission, and other confidential documents as may be determined by the
en banc;
4) Prepares minutes of Commission meetings and Executive Sessions, decisions and resolutions for the approval of the en banc;
5) Handles media relations for the Commission;
6) Develops Rules of Practice that guide the Commission, Departments, Offices, staff and the public in the Commission’s processes
and procedures;
7) Reviews official documents for dissemination based on established methodology;
8) Handles appeals from Petitions for Calling of Meeting;
9) Performs such other functions as may be directed by the Chair and Commissioners

LIST OF FRONTLINE SERVICES:

1) Issuance of Commission en banc Resolutions


2) Issuance of Certified True Copies (CTC) of Memorandum Circulars, Minutes of the Meeting, and Resolutions
3) Issuance of certification on certain acts of the Commission
4) Media Request for interview, information, and updates

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Table of Contents

Issuance of Commission en banc Resolutions


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any concerned individual
What are the requirements : Request letter (with complete name, address and contact number of the client)
addressed to the Commission Secretary
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Presents request letter for Receives request letter 1 minute Assigned personnel None None
issuance of resolution
2 Fills up/accomplishes Client Prepares Resolution 15 minutes (subject to the avail- Assigned personnel
Satisfaction Survey ability of documents)
3 Submits for review/signature 10 minutes (subject to the avail- Asst. Commission
ability of the reviewer/ Secretary / Commis-
signatory) sion Secretary
4 Receives copy of resolution Releases copy of Resolution 1 minute Assigned personnel
after submitting accom-
plished Client Satisfaction
Survey
END OF TRANSACTION

Total Duration : 27 minutes

Office of the Commission Secretary P a g e 33


Table of Contents

Issuance of Certified True Copies (CTC) of Memorandum Circulars, Minutes of the Meeting and
Resolutions
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any concerned individual
What are the requirements : Request letter (with complete name, address and contact number of the client)
addressed to the Commission Secretary
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Presents request letter for Receives request letter 1 minute Assigned personnel Miscellaneous None
certified true copies of the fees : P50.00
document per document
plus P10.00 per
page
2 Prepares Payment Assess- 10 minutes Assigned personnel
ment Form (PAF)
3 Presents the PAF to the Processes payment and is- 10 minutes Cashier
Cashier and settles the re- sues O.R.
quired fee
4 Returns the machine- Prepares requested docu- 15 minutes (subject to the avail- Assigned personnel
validated PAF with the O.R. ments to certify as true copy ability and volume of the re-
to the OCS quested documents to be certi-
fied as true copy/ies)
5 Fills up/accomplishes Client Submits for review/signature 10 minutes (subject to the avail- Asst. Commission
Satisfaction Survey ability of the reviewer/ Secretary / Commis-
signatory) sion Secretary
6 Receives CTC of docu- Releases certified true copy 1 minute Assigned personnel
ment requested after sub- of documents
mitting accomplished Cli-
ent Satisfaction Survey
END OF TRANSACTION

Total Duration : 47 minutes

Office of the Commission Secretary P a g e 34


Table of Contents

Issuance of certification on Certain Acts of the Commission


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any concerned individual
What are the requirements : Request letter (with complete name, address and contact number of the client)
addressed to the Commission Secretary
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Presents request letter for Receives request letter 1 minute Assigned personnel None None
issuance of Certification
2 Fills up/accomplishes Client Prepares Certification 15 minutes (subject to the avail- Assigned personnel
Satisfaction Survey ability of documents)
3 Submits for review/signature 10 minutes (subject to the avail- Asst. Commission
ability of the reviewer/ Secretary / Commis-
signatory) sion Secretary
4 Receives copy of Certifica- Releases copy of Certifica- 1 minute Assigned personnel
tion after submitting ac- tion
complished Client Satisfac-
tion Survey
END OF TRANSACTION

Total Duration : 27 minutes

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Table of Contents

Media Request for Interview, Information, and Updates


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Members of Media Organizations
What are the requirements : Request letter (with complete name, address and contact number of the client)
addressed to the Commission Secretary
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Presents request letter for Receives request letter 1 minute Assigned personnel None None
interview, information, and
update indicating the top-
ics/issues to be discussed
2 Schedules the interview, pre- 1 hour -do-
pares the information, and/
or updates (schedule will
depend on the availability
of the Commission Secretary
or Subject Matter Expert)
3 Follows up the schedule Confirms the schedule with 30 minutes -do-
(date and time) of the in- the client
terview, availability of infor-
mation, and/or updates
4 Proceeds to conduct inter- Answers queries, provides 30 minutes or more (depending Commission Secre-
view, receives information, information, and/or updates on the topic) tary or Subject Mat-
and/or updates ter Expert
END OF TRANSACTION

Total Duration : 27 minutes

Office of the Commission Secretary P a g e 36


Table of Contents

OFFICE OF THE GENERAL COUNSEL

1) Hears Petitions for Calling of Meeting;


2) Acts on the following for the Commission en banc
a. Appeals to the en banc from decisions of the operating departments, SRO, etc.;
b. Petition for Voluntary Dissolution with Creditors Affected under Section 119 of the Corporation Code;
c. Petitions for issuance of Cease and Desist Orders (CDOs);
d. Contracts of the Commission for review;
e. Requests for opinions and special studies from the Chair, the Commissioners, other operating departments, and the public.
3) Acts on formal request for opinions from the public involving the interpretation of the laws which the Commission implements;
4) Liaises with the House of Representatives and the Senate, assists in the preparation of the Commission’s legislative agenda, and prepares
comments and position papers on proposed legislation;
5) Liaises on legal matters with self-regulatory organizations, international organizations and foreign government regulators and agencies;
6) Represents the Commission before the COA, DBM, and other administrative agencies;
7) Oversees non-enforcement litigation, and appellate litigation in coordination with the Office of the Solicitor General;
8) Represents the Commission before the Office for Competition (DOJ) in conferences, technical working groups, and other joint activities to
study existing laws, rules and regulations on trade and competition, and develop and propose appropriate legislative or executive action
in coordination with the other departments;
9) Entertains walk-in/phone legal queries involving complex issues from the public; and
10) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Filing of Petition or Appeal


2) Filing of Request for Legal Opinion
3) Request for Certified True Copies or Plain Copies of Documents relating to Cases
4) Public Assistance on Walk-in/Phone-in Legal Queries

SEC Citizen’s Charter 2017 P a g e 37


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Filing of Petition or Appeal


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Public (Individuals/Corporations)
What are the requirements :
1) Petition or Memorandum on Appeal
2) Supporting Documents (Please see 2006 SEC Rules of Procedure)

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

1 Presents petition or memo- Assesses the completeness 10 minutes Officer for the Day Please see 2006
randum on appeal, and of the petition or memoran- SEC Rules of Proce-
supporting documents. dum on appeal, and sup- dure
porting documents.
2 If complete, receives peti- 3 minutes Support Clerk
tion or memorandum on ap-
peal, and supporting docu-
ments.
3 Prepares the Payment As- 10 minutes Records Specialist
sessment Form (PAF) and
instructs the applicant to
proceed to the SEC Cashier
or nearest Land Bank of the
Philippines (LBP) Branch.
4 Presents the PAF at the SEC Processes payment and is- 10 to 20 minutes SEC Cashier or LBP Filing Fee:
Cashier or nearest LBP sues Official Receipt or vali- Branch
P2,020.00
Branch dated deposit slip, and vali-
dated PAF
5 Presents the validated PAF Photocopies the validated 10 minutes Records Specialist
or validated deposit slip. PAF or validated deposit slip
for incorporation to the case
file
6 Records in the Database/ 3 minutes Support Clerk
Raffling

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
7 Records in GC’s files/records 3 minutes Executive Assistant
8 For notation 3 minutes General Counsel
9 Case Decision/Resolution*
END OF TRANSACTION

*The case shall be decided/resolved in not more than 1 year from the date of submission for resolution.

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Filing of Request for Legal Opinion


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Public (Individuals/Corporations)
What are the requirements :
1) Request letter for Opinion
2) Supporting Documents (Please see Memorandum Circular No. 15, series of 2003)

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

1 Presents request letter for Receives the request letter, 3 minutes Support Clerk Please see Memo-
opinion and supporting and supporting documents. randum Circular
documents. No. 15, series of
2003
2 Records in the Database/ 3 minutes Support Clerk
Raffling
3 Records in GC’s files/records 3 minutes Executive Assistant
4 For notation 3 minutes General Counsel
5 Drafts reply letter advising 1 hour Handling Lawyer
payment of opinion fee, af-
ter determination of whether
the request letter pertains to
specific questions of law
6 Prepares the Payment As- 10 minutes Records Specialist
sessment Form (PAF) and
instructs the applicant to
proceed to the SEC Cashier
or nearest Land Bank of the
Philippines (LBP) Branch.
7 Presents the PAF at the SEC Processes payment and is- 10 to 20 minutes SEC Cashier or LBP Filing Fee:
Cashier or nearest LBP sues Official Receipt or vali- Branch
P10,000
Branch dated deposit slip, and vali-
dated PAF

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
8 Presents the validated PAF Photocopies the validated 10 minutes Records Specialist
or validated deposit slip. PAF or validated deposit slip
for incorporation to the file
9 Takes action upon the re-
quest.*
END OF TRANSACTION

*The opinion shall be released in not more than one (1) year from the date of receipt of request depending on the number, difficulty and novelty of the ques-
tions posed therein.

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Request for Certified True Copy or Plain Copy of Documents Related to a Case
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Public (Individuals/Corporations)
What are the requirements :
1) Proper identification
2) Letter of Authority, if necessary

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

1 Presents request for partic- Furnishes request form to the 3 minutes Support Clerk
ular documents client

2 Prepares the Payment As- 10 minutes Records Specialist


sessment Form (PAF) and
instructs the applicant to
proceed to the SEC Cashier
or nearest Land Bank of the
Philippines (LBP) Branch.
3 Presents the PAF at the SEC Processes payment and is- 10 to 20 minutes SEC Cashier or LBP Fees:
Cashier or nearest LBP sues Official Receipt or vali- Branch
For Certified
Branch dated deposit slip, and vali-
true Copy -
dated PAF
P50.00 per
document plus
P10.00 per
page;
For Plain Copy
– P10.00 per
page
4 Presents the validated PAF Prepares the document re- 10 to 20 minutes Records Specialist
or validated deposit slip. quested
END OF TRANSACTION

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Public Assistance on Walk-in/Phone-in Legal Queries


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Public (Individuals/Corporations)
What are the requirements :
1) Proper identification
2) Documents pertinent to the legal query, if any

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

1 Presents legal query Refers to the Officer of the 3 minutes Support Clerk Not applicable No form required
Day
2 Entertains the legal query 10 to 20 minutes Officer of the Day
END OF TRANSACTION

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OFFICE OF THE GENERAL ACCOUNTANT

1) Acts as lead office in the adoption and implementation of financial reporting and auditing standards and practices based on global
framework;
2) Prepares opinions, clarifications and replies to public queries with respect to financial reporting and audit issues;
3) Accredits external auditors or auditing firm, appraisal companies, credit rating agencies and other professionals or
engaged by by the
4) with rules by external auditors and appraisal companies, credit rating agencies and oth-
er accredited by the
5) Evaluates financial statements of that may be referred by the
6) Renders advice to the Departments upon request on financial and
7) Formulates rules and guidelines on quality assurance review of work of accredited experts or professionals, and the
same
8) Evaluates applications for, and issues, of under the Special Purpose Vehicle
9) custody over has acted on, or are filed unless by the Commission En Banc
or the Chairperson;
Performs such other functions as may be assigned by the Commission En Banc or the
the quality assurance review
12) All previous functions as may be retained by the Office, except the of applications and issuance of of
the Specia Purpose Vehicle Law.

a. Item 7 above has been added for the planned implementation of quality assurance review system.
b. All previous functions will be retained by the Office except the evaluation of applications for, and issues certificates of eligibility un-
der the Special Purpose Vehicle Law.

LIST OF FRONTLINE SERVICES:

1) Accreditation of Appraisal Companies and Professional Services Organization


2) Accreditation of Credit Rating Agencies
3) Request for Exemptive Relief
4) Request for Opinion on Accounting Matters
5) Accreditation of External Auditor/Auditing Firms

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Accreditation of Appraisal Companies and Professional Services Organization


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Appraisal companies and Professional Services Organization (PSO)
What are the requirements :

for

Company the history, scope of services, list of employees and their corresponding profession, and the bio-data of the

Certificate of good standing issued by Professional Regulation Commission recognized to Accredited Professional Organization
List of existing and past
from at least two (2) banks or two (2) public companies or secondary licensees or two (2) large corpora-
tions that they have engaged services of the appraisal
Notarized of the appraisal signed by its or Managing Partner that it meets all the
under of the Guidelines on Property Valuations; that it has not been declared liable by the Commission or by any
court for of the Code or the Securities Regulation Code or any relevant laws and regulation, and that the
applicant or any of / officers or partners or property appraisers or valuers have no adverse
on any civil or case its appraisal
9) List of any pending administrative, civil or criminal case filed against the company or any of its officers and employees;
10) Latest audited financial statements for the recent three years including the period due for the filing;
11) Copy of professional liability insurance policy and sworn undertaking to provide professional liability insurance as required by its clients;
12) Copy of two (2) Appraisal or Valuation Report issued; and
13) Copy of the company’s framework of internal control procedures.

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How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PRE-EVALUATION PROCEDURES
1 Secures checklist of re- Provides client a checklist of 5 minutes Officer of the day None Notarized applica-
quirement from the OGA requirements with instruc- tion letter duly
tions. signed by author-
ized officer
2 Presents application and 1) Pre-evaluates application 30 minutes Officer of the day
supporting documents and supporting docu-
ments.
a) If application and sup-
porting documents are
not complete, the same
are returned to appli-
cant with list of require-
ments not complied with
b) If application and sup-
porting documents are
complete, the “Officer
of the Day” clears appli-
cation for payment of
the prescribed fees
(proceeds to No. 2)
2) Prepares Payment Assess- 10 minutes Executive Assistant
ment Form (PAF) and in-
structs applicant to process
payment and issue O.R

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Presents the PAF at the Processes payment and is- 10 minutes Cashier Filing Fee:
Cashier and settles the re- sues O.R. P10,000
quired fee UPLRF:
P100
TOTAL:
P10,100

Annual Fee:
P2,000
4 Submits the machine- 1) Checks contents and 5 minutes Executive Assistant
validated PAF to the OGA stamps “Received” the
with the application and its three (3) sets of applica-
supporting documents tion documents.
2) Returns one (1) copy of
the application document
to the client.
PROCESSING PROCEDURES
1 Inputs application to Index 5 minutes -do-
Tracking System and for-
wards the same to the Su-
pervising Accountant for
assignment
2 Forwards documents to as- 5 minutes Supervising Account-
signed personnel ant
3 Reviews application and 2 minutes Assigned personnel
supporting documents using
the OGA’s Evaluation Sheet.
If complete and qualified,
GO TO STEP 9
4 If not compliant, prepares -do-
comment letter to the appli-
cant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
5 Reviews comment letter 5 minutes Supervising Account-
ant
6 Signs comment letter 5 minutes General Accountant
7 If no compliance is made
within the prescribed period
(allow a 30-day mailing and
reply period from date of
letter):
1) Prepares a letter denying
the application for failure 10 minutes -do-
to comply with the re-
quirements.
2) Reviews letter 5 minutes Supervising Account-
ant
3) Signs letter 5 minutes General Accountant
8 If there is a submission but 2 hours Assigned personnel
still not fully compliant with
the requirement, GO TO STEP
4 but with a written warning
that shall result to the denial
of the application
9 If applicant fully complies 2 hours -do-
with the requirements and
presents all original docu-
ments for authentication
against submitted photo-
copies with application, pre-
pares Memorandum to
Commission En Banc
(through Supervising Com-
missioner)
10 Reviews Memorandum 10 minutes Supervising Account-
ant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
11 Signs and presents Memo- 50 minutes General Accountant
randum to the Commission
En Banc for consideration
(after clearance from Super-
vising Commissioner)
12 Receives advice of the reso- 30 minutes Assigned personnel
lution of the Commission on
the application

If approved, GO TO STEP 13.


a) If denied/deferred:
· Denial: Notifies the appli-
cant of the denial and
reasons thereof
· Deferment: Notifies the
applicant of the defer-
ment and requirement
to be complied with or
necessary action to cor-
rect the deficiency: GO
TO STEP 4 and onwards.
13 Presents authority to re- Prepares Certificates of Ac-
ceive the certificate creditation
a) Prints two (2) copies 10 minutes Executive Assistant
b) Initials on copies 3 minutes Assigned Personnel
c) Initials on copies 2 minutes Supervising Account-
ant
d) Signs certificates 5minutes General Accountant
e) Notifies applicant that the 5minutes Executive Assistant
Certificate may be
picked up (in case of rep-
resentative, subject to
presentation of authoriza-
tion letter)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
f) Releases Certificate of ac- 10 minutes -do-
creditation and forwards
duplicate file to clerk
g) Logs in registry of Accred- 5 minutes -do-
ited Appraisal Compa-
nies; informs Index Track-
ing Personnel of the issu-
ance of the certificate.
h) Provides MIS with updat- 30 minutes -do-
ed list
i) Updates tracking system 30 minutes Index Tracking Per-
sonnel
END OF TRANSACTION
Duration:
Pre-evaluation of application 1 hour
Processing of application 1 day
Mailing period (estimate) 30 days
Total duration: 31 days and 1 hour

*under normal circumstances

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Accreditation of Credit Rating Agencies


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Credit Rating Agencies
What are the requirements :

for
Applicant should be a stock and have a minimum paid-up capital of at least Ten Pesos (P10,000,000.00);
List of shareholders and their corporate
List of other business activities,
Copies of its Articles of and
Sworn on the
a. Ownership structure and possible conflicts of
b. Names, professional and of the staff in the rating decision
Disclosure of training, assistance or support receives from
code of conduct that can ensure the of the rating specialists and the rating agency from the Issuers it is

Rating scales symbols and related assessment devices


9) procedures, rating policies, and other used in arriving at a
10) Copy of model agreement with
11) Manual on Corporate

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PRE-EVALUATION PROCEDURES
1 Secures checklist of re- Provides client a checklist of 5 minutes Officer of the day None Application letter
quirement from the OGA requirements with instruc- duly signed by au-
tions thorized officer

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
2 Presents application and 1) Pre-evaluates application 30 minutes Officer of the day
supporting document and supporting docu-
ments.
a) If application and sup-
porting documents are
not complete, the
same are returned to
applicant with list of
requirements not com-
plied with
b) If application and sup-
porting documents are
complete, the “Officer
of the Day” clears ap-
plication for payment
of the prescribed fees
(applicant proceeds to
No.2)
2) Prepares Payment Assess- 10 minutes Executive Assistant
ment Form (PAF) and instructs
applicant to proceed to the
Cashier
3 Presents the PAF at the Processes payment and is- 10 minutes Cashier Filing Fee:
Cashier and settles the re- sues O.R. P50,000.
quired fee UPLRF:
P500.00
TOTAL:
P50,500

Annual Fee:
P15,000
4 Submits the machine- 1) Checks contents and stamps 5 minutes Executive Assistant
validated PAF to the OGA “Received” the three (3) sets
with the application and its of application documents
2) Returns one (1) copy of the
supporting documents
application document to the
client.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PROCESSING PROCEDURES
1 Inputs application to Index 5 minutes Executive Assistant
Tracking System and for-
wards the same to the Su-
pervising Accountant for
assignment
2 Forwards documents to as- 5 minutes Supervising Account-
signed personnel ant
3 Reviews application and 2 hours Assigned personnel
supporting documents using
the OGA’s Evaluation Sheet.
If complete and qualified,
GO TO STEP 9
4 If not compliant, prepares Assigned personnel
comment letter to the appli-
cant
5 Reviews comment letter 5 minutes Supervising Account-
ant
6 Signs comment letter 5 minutes General Accountant
7 If no compliance is made
within the prescribed period
(allow a 30-day mailing and
reply period from date of
letter):
1) Prepares a letter denying 10 minutes General Accountant
the application for failure
to comply with the require-
ments.

2) Reviews letter 5 minutes Supervising Account-


ant

3) Signs letter 5 minutes General Accountant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PROCESSING PROCEDURES
8 If there is a submission but 2 hours Assigned personnel
still not fully compliant with
the requirements, GO TO
STEP 4 but with a written
warning that shall result to
the denial of the application
9 If applicant fully complies 2 hours Assigned personnel
with the requirements and
presents all original docu-
ments for authentication
against submitted photo-
copies with application, pre-
pares Memorandum to
Commission En Banc
(through Supervising Com-
missioner).
10 Reviews Memorandum 10 minutes Supervising Account-
ant
11 Signs and presents Memo- 50 minutes General Accountant
randum to the Commission
En Banc for consideration
12 Receives advice of the resolution 30 minutes Assigned personnel
of the Commission En Banc on
the application

If approved, GO TO STEP 13.


a) If denied/deferred:
· Denial: Notifies the applicant
of the denial and reasons
thereof
· Deferment: Notifies the appli-
cant of the deferment and
requirement to be complied
with or necessary action to
correct the deficiency: GO
TO STEP 4 and onwards.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PROCESSING PROCEDURES
13 Presents authority to re- Prepares Certificates of Ac-
ceive the certificate creditation
a) Prints two (2) copies 10 minutes Executive Assistant
b) Initials on copies 3 minutes Assigned Personnel
c) Initials on copies 3 minutes Supervising Account-
ant
d) Signs certificates 2 minutes General Accountant
e) Logs in registry of Accred- 5 minutes Executive Assistant
ited Appraisal Compa-
nies; informs Index Track-
ing Personnel of the issu-
ance of the certificate.
f) Provides MIS with updated 30 minutes Executive Assistant
list
g) Updates tracking system 30 minutes Index Tracking
Personnel
END OF TRANSACTION

Duration:
Pre-evaluation of application 1 hour
Processing of application 1 day
Mailing period (estimate) 30 days
Total duration: 31 days and 1 hour

*under normal circumstances

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Request for Exemptive Relief


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Corporations or other interested parties with request for Exemptive Relief
What are the requirements :

Supporting documents, if any

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PRE-EVALUATION PROCEDURES
1 Presents letter-request for Prepares Payment Assess- 10 minutes Executive Assistant Letter duly signed
Exemptive Relief and sup- ment Form (PAF) and in- by authorized of-
porting document structs applicant to pro- ficer/ person
ceed to the Cashier
2 Presents the PAF at the Processes payment and is- 10 minutes Cashier Filing Fee:
Cashier and settles the re- sues O.R. P50,000 (per
quired fee issue and per
company)
PROCESSING PROCEDURES
1 Submits the machine- Inputs Letter-Request for Ex- 3 minutes Executive Assistant
validated PAF to the OGA emptive Relief or Memoran-
with the application and its dum referred by the Operat-
supporting documents, if ing Department to Index
any Tracking System and forwards
the same to the Supervising
Accountant for assignment.
2 Forwards document to as- 2 minutes Supervising Account-
signed personnel ant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Evaluates the request.

In case of complete support- 4 hours Assigned personnel


ing documents and justifica-
tion, prepares a Memoran-
dum for presentation to the
Commission En Banc contain-
ing the results of evaluation
and recommendation

In case of incomplete justifi- 16 hours


cation with supporting docu-
ments, prepares Advisement
Letter to the requesting party
that the subject matter is un-
der evaluation and may re-
quire additional submission of
documents.
4 Reviews Advisement Letter or 30 minutes Supervising Account-
Memorandum for presenta- ant
tion to Commission En Banc
5 Reviews and signs Advise- 10 minutes General Accountant
ment Letter or Memorandum
6 If there is a submission of ad- 1 hour Assigned personnel
ditional documents, GO TO
STEP 3
7 Presents Memorandum to the 10 minutes General Accountant
Commission En Banc for con-
sideration

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

8 Receives advice of the Reso- 30 minutes Assigned personnel


lution from Commission En
Banc

Prepares Advisement Letter


containing the resolution of
the Commission En Banc, no-
tifying the party whether the
request has been approved
or denied
9 Reviews Advisement Letter 30 minutes Supervising Account-
ant
10 Reviews and signs Advise- 10 minutes General Accountant
ment Letter
11 Logs/Updates Index Tracking 2 minutes Executive Assistant
System
END OF TRANSACTION

Duration:
Pre-evaluation of application 20 minutes
Processing of application 1-3 days
Mailing period (estimate) 30 days
Total duration: 31-33 days and 20 minutes

*under normal circumstances

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Request for Opinion on Accounting Matters


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Corporations or other interested parties with request for Opinion on Accounting Matters
What are the requirements :

Supporting documents, if any

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PRE-EVALUATION PROCEDURES
1 Presents letter-request for Prepares Payment Assess- 10 minutes Executive Assistant Letter duly signed
opinion and supporting ment Form (PAF) and in- by authorized of-
document structs applicant to pro- ficer/ person
ceed to the Cashier
2 Presents the PAF at the Processes payment and is- 10 minutes Cashier Filing Fee:
Cashier and settles the re- sues O.R. P25,000
quired fee (complex is-
sues)
P10,000 (non-
complex is-
sues)
PROCESSING PROCEDURES
1 Submits the machine- Inputs Letter-Request for 3 minutes Executive Assistant
validated PAF to the OGA Opinion or Memorandum
with the application and its referred by the Operating
supporting document, if Department to Index Track-
any ing System and forwards the
same to the Supervising Ac-
countant for assignment.
2 Forwards document to as- 2 minutes Supervising Account-
signed personnel ant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Evaluates the request for
opinion.

In case of the simple case 4 hours Assigned personnel


and/or no additional docu-
ments are needed for the
evaluation, prepares an Ad-
vertisement Letter or Memo-
randum containing the re-
sults of the evaluation

In case of complex case 16 hours


and/or additional docu-
ments or further research are
needed, prepares Advise-
ment Letter to requesting
party that the subject matter
is under evaluation and may
require submission of addi-
tional requirements.
4 Reviews Advisement Letter or 30 minutes Supervising Account-
Memorandum ant

5 Reviews and signs Advise- 10 minutes General Accountant


ment Letter or Memorandum
6 If there is a submission of ad- 1 hour Assigned personnel
ditional documents, GO TO
STEP 3
7 Logs/Updates Index Tracking 2 minutes Executive Assistant
System
END OF TRANSACTION

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Duration:
Pre-evaluation of application 20 minutes
Processing of application 1-3 days
Mailing period (estimate) 30 days
Total duration: 31-33 days and 20 minutes

*under normal circumstances

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Accreditation of External Auditor/Auditing Firms


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Auditing Firms, individual practitioners/external auditors
What are the requirements :

1) Fully accomplished application form for external auditor (For initial: SEC Form ExA-001 – Revised 2009; For renewal:
SEC Form ExA-001-R).
2) Certificate of Registration as public practitioner issued by BOA.
3) Copies of certificates of participation in seminars/trainings.
4) Quality Assurance Manual
5) In case of Group A, B, and C accreditation, notarized certification that the applicant has fundamental knowledge of
the regulatory requirements on each of the other secondary licensees of the Commission.
6) Copies of Audited Financial Statements (AFS) of the applicant’s two (2) largest clients in terms of assets.
7) Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) – for those
availing the mutual recognition of accreditation.
8) Notarized complete list of corporate clients.
Notarized attestation of his/her adherence to the requirements of the Code of Ethics for Professional Accountants in
the Philippines

AUDITING

1) Fully accomplished application form for auditing firm (For initial: SEC Form AuF—002 – Revised 2009; For renewal: SEC Form AuF-002-R).
2) Certificate of Registration issued by BOA to the firm which is current and effective including its registered partners.
3) Quality Assurance Manual.
4) Copies of Audited Financial Statements (AFS) of the firm’s two (2) largest clients in terms of assets.
5) Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) – for those availing the mutual recogni-
tion of accreditation.
6) Notarized complete list of corporate clients.
7) List of employees/personnel and their qualifications/position (for Groups A and B).
8) Notarized attestation of the firm’s adherence to the requirements of the Code of Ethics for Professional Accountants in the Philippines.

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How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
PRE-EVALUATION PROCEDURES
1 Secures application form Provides client application 5 minutes Officer of the day Auditing
from the OGA form, and checklist of re- Initial
quirements. SEC Form AuF—
002 – Revised 2009
Renewal Applica-
tion – SEC Form AuF
-002-R (Revised
2009)

External Auditor
Initial Application –
SEC Form ExA-001 –
Revised 2009

Renewal Applica-
tion – SEC Form ExA
-001-R)
2 Presents application and 1) Pre-evaluates application 30 minutes Officer of the day
supporting documents and supporting docu-
ments.
a) If application and sup-
porting documents are
not complete, the
same are returned to
applicant with list of
requirements not com-
plied with

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
b) If application and sup-
porting documents are
complete, the “Officer
of the Day” clears ap-
plication for payment
of the prescribed fees
(applicant proceeds to
No.2)
2) Prepares Payment Assess-
ment Form (PAF) and instructs 10 minutes Executive Assistant
applicant to proceed to the
Cashier
3 Presents the PAF at the Processes payment and is- 10 minutes Cashier Auditing Firm
Cashier and settles the re- sues O.R. Group A
quired fee Filing Fee:

LRF*:
P
Total
P20,200

Group
Filing Fee:
P15,000
LRF*:
P150
TOTAL:
P15,150

Group C
Filing Fee:
P5,000
LRF*:
P50
TOTAL:
P5,050
Office of the General Accountant P a g e 64
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Individual Ap-
plicant-
Practitioner

Group A
Filing Fee:
P5,000
LRF*:
P50
TOTAL:
P5,050

Group B
Filing Fee:
P3,000
LRF*:
P30
TOTAL:
P3,030

Group C
Filing Fee:
P2,000
LRF*:
P20
TOTAL:
P2,020

*Legal Re-
search Fee is
equivalent to
1% of the Filing
Fee but not less
than P10.

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
4 Submits the machine- 1) Checks contents and 4 minutes Executive Assistant
validated PAF to OGA with stamps and receives the
the application and its sup- three (3) sets of applica-
porting documents tion document
2) Returns one (1) copy of 1 minute Executive Assistant
the application document
to the client.

PROCESSING PROCEDURES
1 Inputs application to Index 3 minutes Executive Assistant
Tracking System and for-
wards the same to the su-
pervising Accountant for
assignment.

2 Forwards documents 2 minutes Supervising Account-


ant
3 Reviews application and 4 hours Assigned Personnel
supporting documents using
the OGA’s Evaluation Sheet
4 Prepares comment letter to
applicant/s
5 Reviews comment letter and 5 minutes Supervising Account-
Memorandum ant
6 Reviews and sign comment 5 minutes General Accountant
letter and Memorandum

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
7 If no compliance is made
within the prescribed period
(allow a 30-day mailing and
reply period from date of
letter):
1) Prepares a letter denying 10 minutes General Accountant
the application for failure
to comply with me the re-
quirements.
2) Reviews letter 5 minutes Supervising Account-
ant
3) Signs letter 5 minutes General Accountant
8 If there is a submission but 2 hours Assigned personnel
still not fully compliant with
the requirements, GO TO
STEP 4 but with a written
warning that shall result to
the denial of the application
9 1) For Group A/B, prepares 2 hours Assigned personnel
Memorandum to the
Commission En Banc
(through Supervising Com-
missioner) then GO TO STEP
10, 11, and 14.
2) For Group C, finalizes
evaluation Sheet for Submis-
sion to Supervising Commis-
sioner, then GO TO STEP 12,
13, and 15.
10 Reviews Memorandum 10 minutes Supervising Account-
ant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
11 Signs and presents Memo- 20 minutes General Accountant
randum to the Commission
En Banc for consideration
(Upon receipt of clearance
from Supervising Commis-
sioner)
12 Reviews Evaluation Sheet 10 minutes Supervising Account-
ant
13 Signs final Evaluation Sheet 20 minutes General Accountant
and forwards to Supervising
Commissioner for approval
14 Receives advice of the reso- 30 minutes Assigned personnel
lution of the Commission En
Banc on the application for
A/B:

If approved, GO TO STEP 16.


a) If denied/deferred:
· Denial: Notifies the appli-
cant of the denial and
reasons thereof
· Deferment: Notifies the ap-
plicant of the deferment
and requirement to be com-
plied with or necessary ac-
tion to correct the deficien-
cy: GO TO STEP 4-6 and 8
onwards.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
16 Presents authority to re- Prepares Certificates of Ac-
ceive the certificate creditation (group A/B/C)
a) Prints two (2) copies 10 minutes Executive Assistant
b) Initials on copies 3 minutes Assigned Personnel
c) Initials on copies 3 minutes Supervising Account-
ant
d) Signs certificates 2 minutes General Accountant
e) Notifies applicant that the 10 minutes Executive Assistant
Certificate may be
picked up (in case of rep-
resentative, subject to
presentation of authoriza-
tion letter)
f) Releases Certificate of Ac- 5 minutes Executive Assistant
creditation and forwards
duplicate file to Clerk
g) Logs in registry of Accred- 5 minutes Executive Assistant
ited Firm/External Auditor;
informs Index Tracking
Personnel of the issuance
of the certificate
h) Provides the ICTD with up- 30 minutes Executive Assistant
dated list
i) Updates tracking system 30 minutes Index Tracking Per-
sonnel
END OF TRANSACTION

Duration:
Pre-evaluation of application 1 hour
Processing of application 2 days
Mailing period (estimate) 40 days
Total duration: 42 days and 1 hour
*under normal circumstances

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Enforcement and Investor Protection Department

1) Investigates, motu proprio or upon complaint or referral, violations of laws rules and regulations enforced by the Commission;
2) Initiates the issuance of a Cease and Desist Order (CDO) by the Commission;
3) Conducts surveillance of the trading of securities in the exchanges and ensures compliance of market participants and intermediaries with
Sections 24, 26 and 27 of the SRC and its IRR;
4) Acts as the Anti-Money Laundering Desk of the Commission and acts on all requests made by the AMLC;
5) Acts as representative of the Commission on all matters relating to the IOSCO;
6) Performs such other functions as may be assigned by the Commission en banc or the Chair.

FRONTLINE SERVICE:

1) Receipt and Filing of Complaint

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Table of Contents

Receipt and Filing of Complaint


Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Public (Investors, members, stockholders, officers, NGOs, etc.)
What are the requirements :
1) with on Non-Forum
2) documents,
3) Filing fee of P2,000.00 plus 1% legal research fee (LRF) of P20.00

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)

1 Registers with the guard Calls the officer of the day 1 minute Guard on Duty None None
(lobby) and waits to be
called
2 Proceeds to the confer- Holds conference/meeting 1 hour or depends on the sub- Officer of the Day None None
ence room with the client ject of complaint
3 Assesses the inquiry/request -do- -do- None Verified complaint
for assistance/verbal com- with Certification
plaint if within SEC’s jurisdic- on Non-forum
tion, if not, recommends ap- Shopping / Com-
propriate action. plaint Form

If within SEC’s jurisdiction,


requests the client to pre-
pare and submit to the Of-
fice of the Director a verified
complaint with Certification
on Non-forum Shopping and
other supporting docu-
ments. In instances when the
client is unable to prepare a
verified complaint, a com-
plaint form will be provided
for him to accomplish/fill up.

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
4 Submits to the Office of the Receives the documents 1 minute Office of the Direc- Verified complaint
Director two (2) original and forwards to the officer tor’s Staff with Certification
copies of verified com- of the day for assessment. on Non-forum
plaint with Certification on Shopping or Com-
Non-forum Shopping and plaint Form
other supporting docu-
ments; or the accom-
plished complaint form.
5 Assesses the verified com- 15 minutes Officer of the day None
plaint if it satisfies the formal
requisites.
6 If the verified complaint is 5 minutes Office of the Direc- PAF
acceptable, issues Payment tor’s Staff
Assessment Form (PAF).
7 Presents the PAF at the Processes payment and is- 10 minutes Cashier P2,020.00 (Filing
Cashier and settles the re- sues O.R. fee + LRF)
quired fee
8 Submits the machine- Receives documents and 10 minutes Office of the Direc-
validated PAF and O.R., advises the client that a let- tor’s Staff
and the receiving copy of ter will be sent to notify him
the verified complaint of the actions to be taken
by the department.
END OF TRANSACTION

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Markets and Securities Regulation Department


1) Registers securities and grants exemption from registration such as, but not limited to, equity securities, bonds, commercial papers issued by
issuer of registered equity and bonds, real estate investment trusts and other alternative investment products, and supervises and monitors
the compliance by the issuers of such products with legal and regulatory requirements;
2) Registers and supervises securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets
and other trading markets, self-regulatory organizations, clearing agencies, securities lending agencies, depositories, custodians, central
trade reporting systems; registrars of qualified buyers and other securities-related organizations for their compliance with legal and regula-
tory requirements;
3) Supervises intermediaries and market professionals such as brokers, dealers, government securities eligible dealers, government securities
brokers, associated persons and salespersons of broker dealers, transfer agents, investment houses, investment company advisers, mutual
fund distributors, compliance officers and certified investment solicitors of investment company advisers/mutual fund distributors, and other
securities market participants for their compliance with legal and regulatory requirements;
4) Reviews proposed rules of self-regulatory organizations (SROs) and other market participants, and proposed products and services in the
market to ensure their consistency with securities laws, regulations, policies and global best practices;
5) Reviews existing regulatory frameworks of the securities industry, conduct market-related research and recommends rules and/or reforms;
6) Establishes linkages with national and international organizations (e.g. ASEAN and APEC) and regulatory agencies with regard to the securi-
ties market, including cross-border products, services and arrangements;
7) Acts as National Numbering Agency for all securities issued in the Philippines;
8) Issues show cause orders, assesses and imposes penalties for non-compliance with rules and regulations implemented by the department;
9) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Application for Certificate of Permit to offer Securities for Sale and Order of Registration for Equities, Debt Securities, Real Estate Investment
Trust (REIT)
2) Petition for Voluntary Revocation of Permit to Offer Securities for Sale and Order of Registration for Equities, Debt, REIT
3) Application for Confirmation of Exempt Transaction
4) Application for Exemption from Registration of Stock Option Plan
5) Application for Exemption from Registration of Limited Public Offering and Other Exempt Transaction
6) Review of Information Statement prior to its distribution in the Stockholders’ Meeting
7) Request for Exemptive Relief/Confidential Treatment of Information Filed
8) Accreditation of Surety Companies
9) Request for Comment/Recommendation on the Application for Articles of Incorporation/Partnership/By-Laws and Amendments relative
thereto

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LIST OF FRONTLINE SERVICES:

10) Application of Registration as an Exchange/Exchange-SRO/Clearing Agency/Clearing Agency-SRO and Depository


11) Application of Registration as Registrar of Qualified Buyer
12) Application for Operator of Alternative Trading System and Central Trade Reporting System
13) Application for Over-the-Counter Market/Association of Securities Brokers and Dealers

Market and Securities Regulation Department P a g e 74


Table of Contents

Application for Certificate of Permit to offer Securities for Sale and Order of Registration for Equities,
Debt Securities, Real Estate Investment Trust (REIT)
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any corporation that intends to sell or offer securities for sale to the public
What are the requirements :
1) Accomplished SEC Form 12-1, as amended (Registration Statement) and Prospectus
2) Audited Financial Statements (AFS) and Additional components of the AFS
3) Statement of Management Responsibility on the AFS
4) Exhibits required under Part VII of Annex “C”
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Presents SEC Form 12-1 for Specialist 1) SEC Form 12-1
Pre-evaluation 2) Audited Financial
Statements (AFS)
and Additional
components of
the AFS
3) Statement of
Management
Responsibility on
the AFS
4) Required Exhibits
(Part VII of Annex

2 2.1 Reviews documents. Accom- 1 hour Specialist See separate Pre-evaluation


plishes pre-evaluation checklist schedule of Checklist
and provides copy to the appli- fees and
cant based on the documents charges here
presented.

If COMPLETE, go to Step2.3.
If INCOMPLETE, go to Step 2.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
2 2.2 Returns document to applicant for 5 minutes Specialist PAF
compliance. END
2.3 Computes Filing Fee and issues Pay 10 minutes
ment Assessment Form (PAF) and
ad
vises applicant to pay prescribed
fee
to the Cashier. Go to Step 3
3 Pays the prescribed Filing Issue Official Receipt and machine varies Cashier See separate Official Receipt
fee to the Cashier validate PAF schedule of and PAF
fees and
charges here
4 Submits PAF together with 4.1 Receives /stamp and encodes 10 minutes Support Staff
the required documents documents;
and its attachments to re-
ceiving clerk/support staff. 4.2 Delivers documents to Assistant 10 minutes
Director (AD) for assignment. Go
to Step 5.1

4.3 Updates records and delivers doc- 10 minutes


uments to assigned Securities Spe-
cialist and Legal Counsel. Go to
Step 6.

4.4 Transmits letter to the 30 minutes


Registrant. Go to Step 7.

4.5 Delivers Memo to Supervising 10 minutes


Commissioner/ Commission Secre-
tary for Agenda

4.6 Forwards records to ICTD for micro- 10 minutes


filming. END

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 5.1 Assigns application to Specialist 10 minutes Assistant Director
and Legal Counsel. Return docu-
ments to Support Specialist. Go to
Step 4.3

5.2 Reviews and initials the following: 1 day

5.2.a. DRAFT letter/ memo/


advisement/Pre-effective Letter/
Order of Registration/ Permit to
Sell/Notice

5.2.b. FINAL letter/memo/ advise-


ment/Pre-effective letter/ memo/
advisement/ Order of Registra-
tion/ Permit to Sell/Notice

5.3 Go to Step 9.

6 If Initial Filing: Securities


Specialist / Legal
6.1 Reviews documents 7 days Counsel
6.2 Refers the Underwriting/ Manage-
ment/Distribution Agreement to
Securities Market Division
6.3 Refers Financial Statements to 3 days
OGA/Refer ID Matters to CGFD/
Repeats Step 8
6.4 Refers to OTHER GOVERNMENT
AGENCIES/EXTENSION OFFICE/PSE
(if applicable)
6.5 Conducts Ocular Inspection 1 to 2 days
(if applicable/allowed)
6.6 Prepares and initials DRAFT/FINAL
1st COMMENT LETTER based on find-
ings. Repeats Step 5.2

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
6 IF 1st Revision – Compliance with 2nd 3 days
COMMENT LETTER

6.7 Repeat Steps 6.1, 6.3, 6.4 and/or


conducts meeting with the Regis-
trant.

6.7.a. If compliant with all the


requirements, Go to Step 6.8.a.

6.7.b. If still not compliant, pre-


pares and initials DRAFT/FINAL 2nd-
COMMENT LETTER. Repeats Step 5.2.

IF 2nd Revision – Compliance with 2nd 3 days Securities Special-


COMMENT LETTER ist/ Legal Counsel

6.8 Repeats Steps 6.1, 6.3, 6.4 and/or 30 minutes


conducts meeting with the Regis-
trant.

6.8.a. If AFS were cleared by


OGA, prepares and initials DRAFT/
FINAL MEMO. Repeat Step 5.2

6.8.b. If still not compliant or NO


COMPLIANCE, endorses to Legal
Counsel for Hearing.

6.9 Prepares DRAFT/FINAL NOTICE OF 2 hours


HEARING. Repeats Step 5.2.

6.10 Legal Counsel holds meeting for 1 hour


REJECTION of the application.

6.11 Prepares DRAFT/FINAL REJECTION


LETTER. Repeat Step 5.2.
Market and Securities Regulation Department P a g e 78
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
7 7.1 Files reply/compliance
with Comment Letter to
support staff

7.1a. Set appointment


with Office of the Direc-
tor for schedule of Man-
agement Presentation

7.1b. Conducts Presen-


tation with MSRD Staff

If reply to 1st Comment Letter


or 2nd Comment Letter. Re-
peats Steps 4.1 and 4.3.

7.2 If application is deferred,


submits compliance re-
quirements. Repeats
Steps 4.1 and 4.3.

7.3 If rendered effective,


submits FINAL PROSPEC-
TUS.

Repeats Steps 4.1, 4.3


and Go to Step 11

7.4 Receives ORDER OF REG-


ISTRATION and PERMIT TO
SELL/REJECTION. Go to Step
13
8 8.1.a Reviews and evaluates AFS; OGA
8.1.b. Reviews and evaluates ID CGFD
qualifications
8.2 Endorses findings to MSRD.
Go to Step 6.6 OGA/CGFD

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
9 9.1 For DRAFT COMMENT/PRE- Director
EFFECTIVE LETTER/MEMORANDUM/
REJECTION LETTER/ ORDER OF REG-
ISTRATION/PERMIT TO SELL/NOTICE

9.1.a. Reviews and initials 3 hours


documents
9.1.b. Returns document to Sup- 10 minutes
port
Staff. Go to Steps 4.3 and
6.7
or 6.8 or 6.9 3 hours

9.2 For FINAL COMMENT/PRE-


EFFECTIVE/ADVISEMENT LETTER/
NOTICE.

Reviews and signs document. 1 day


Repeat Step 4.4

9.3 If FINAL MEMO, reviews and signs 1 hour


document. Returns documents to
Support Staff. Go to Step 4.5.

9.4 Presents to the Commission En


Banc.

9.5 Informs Specialist/Legal Counsel 10 minutes


of En Banc Decision. Go to Step
10.

For ORDER OF REGISTRATION and PER-


MIT TO SELL

9.6. Reviews and signs document.


Returns document to Support Staff.
Go to Steps 4.3 and 12.4

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

10 Upon receipt of the Commission’s action Securities Specialist


on the Memorandum:

If Registration Statement is DENIED/


DEFERRED
10.1 Prepare DRAFT/FINAL ADVISEMENT 2 days
LETTER

Repeat Steps 5.2, 9.1, 9.2 and 4.4

If Registration Statement is RENDERED EF-


FECTIVE,

10.2 Prepare PRE-EFFECTIVE LETTER.


Repeat Steps 5.2, 9.1, 9.2 and go to
Step 7.3

11 11.1 Computes adjustment fee, if neces- 30 minutes Securities Specialist


sary and inform registrant of the ad-
ditional fee. Go to Steps 3 and 4.3.

11.2 If COMPLETE. Go to Step 12

11.3 If INCOMPLETE, notifies registrant to


comply with and submit the require
ments. Go to Step 7.3

12 Prepares CERTIFICATE OF PERMIT TO SELL Securities Specialist/


and ORDER OF REGISTRATION Legal Counsel
12.1 Prints draft/final copies of Certificate 10 minutes
of Permit to Sell and Order of Regis-
tration
12.2 Initials copy 5 minutes
12.3 Repeat Steps 5.2 and 9.6 10 minutes
12.4 Notifies issuer that the Permit and Or-
der are ready for release at the
MSRD. Go to Step 7.4
12.5 Forwards records to Support Staff. Go
to Step 4.6
Market and Securities Regulation Department P a g e 81
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
13 Publication/uploading of Repeat Step 4.1 and 4.3 10 minutes Support Staff
Order rendering effective
the Registration Statement

14 Submits written notification Repeat Step 6.8.a, 5.2, 5.3 A week after receipt of Specialist
of completion or termina- termination report
tion of the offering includ- Repeat Step 9.1, 9.2 and 9.4 Director
ing the number of securi-
ties sold
END OF TRANSACTION

*The allotted processing time covers all submissions and evaluations of documents, i.e., initial and subsequent submissions per Comment letter/s.

Maximum aggregate price of securities to be offered Amount of Filing fee


Not more than P500 Million 0.10% of the maximum aggregate price of the securities to be offered
More than P500 Million but not more than P750 Million P500,000 plus 0.075% of the excess over P500 Million
More than P750 Million but not more than P1 Billion P687,500 plus 0.05% of the excess over P750 Million
More than P1 Billion P812,500 plus 0.025% of the excess over P1 Billion

Filing Fee:
The registration/filing fee is subject to 1% legal Research Fee (but not less than Fifty Pesos) which shall be paid at the time of filing. Securities to be registered
but which are not part of the offering, shall be based on Par Value

Shelf Registration:
Upon filing of Registration Statement – based on value of the 1st Tranche
Filing fees for subsequent tranches – payable within seven (7) business days prior to commencement of the offer/sale

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Petition for Voluntary Revocation of Certificate of Permit to Sell Securities for Sale and Order of Reg-
istration for Equities, Debt Securities, Real Estate Investment Trust (REIT)
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registered Issuers, Publicly Listed Securities Issuers
What are the requirements : 1) Verified Petition for Revocation of Registration
2) Board Resolution
3) List of Stockholders
4) All relevant books and papers
5) Proposed Notice of Filing of Petition for Voluntary Revocation of Registration of Securities, reciting the facts
supporting the said petition .
6) Payment Assessment Form/Official Receipt
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Presents Petition for Revo- Issues Payment Assessment Form 10 minutes Specialist P5,000 PAF
cation (PAF)

2 Receives the PAF and pro- Issue Official Receipt and machine Varies Cashier Amount Im- Official Receipt
ceeds to Cashier for pay- validate PAF posed and PAF
ment

3 Forwards validated PAF Receives the validate PAF and 10 minutes Office of the Director
and documents to Support documents. Forwards to Support
Staff Staff

4 4.1 Receives and encodes 10 minutes Support Staff


documents;
4.2 Delivers documents to Assistant 5 minutes
Director (AD) for assignment. Go
to Step 5.1
4.3 Updates records and/or deliv- 10 minutes
ers documents to assigned Le-
gal Counsel. Go Step 6.1

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 4.4 Transmits letter to the Registrant. 30 minutes Support Staff
Go to Step 5.

4.5 Delivers Memo to Supervising 10 minutes


Commissioner/ Commission Sec-
retary for En Banc presentation.
Go to Step 7.4

4.6 Forwards records to ICTD for mi- 15 minutes


crofilming and uploading in SEC’s
website and Fax copy to PSE/
PDEx. END

5 5.1 Assigns application to Legal 10 minutes Assistant Director


Counsel. Forwards documents to
Support Staff. Go to Steps 4.3

5.2 Reviews and initials the following:

5.2.a. DRAFT letter/ memo/ 1 day


advisement/ Order of Revoca-
tion. Go to Step 7.1 and Step 4.3

5.2.b. FINAL letter/memo/ advise 1 day


ment letter/ Order of Revocat
ion. Go to Step 7

6 6.1 Reviews documents, prepares 1 day Legal Counsel


and initials DRAFT/FINAL Notice of
Filing of Petition for Voluntary
Revocation . Go to Steps 5.2,
7.1/9 and 4.3

6.2 Prepares DRAFT/FINAL Memo.

6.3 Repeat Step 5.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
7 7.1 For DRAFT COMMENT/ NOTICE/ 3 hours Director
MEMORANDUM/ORDER

7.1.a. Reviews and Initial


document
7.1.b. Returns document to Le-
gal Counsel. Go to Step 6.1

7.2 For FINAL COMMENT/ NOTICE/ 3 hours


MEMORANDUM/ORDER

7.2.a. Reviews and signs docu-


ment. Go to Step 4.3, 4.4 and 4.6

7.3 If FINAL MEMO, review and sign


document. Go to Step 4.5.

7.4 Presents to the Commission En 1 day


Banc

7.5 Informs Legal Counsel of En


Banc Decision. Go to Step 6.2

7.6 For ORDER OF REVOCATION 10 minutes

7.6.a Reviews and signs docu-


ment. Go to Step 4.3 and 4.6
8 Receive and publish ap-
proved Notice of Filing of
Petition for Voluntary Rev-
ocation

9 Submits Affidavit of Publi- Receives affidavit and wait for 15 business days
cation complaints. Go to Step 5.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
10 Upon receipt of the Commission’s
action on the Memorandum:
If DENIED/DEFERRED
10.1 Prepare DRAFT/FINAL ADVISE-
MENT LETTER. Repeat Steps 4.2,
6.2, 7.1, 7.2 and 4.4
10.2 If GRANTED. Go to Step 11 30 minutes Legal Counsel

11 Prepares ORDER OF REVOCATION Legal Counsel

11.1 Prints draft/final copies of Or-


der of Revocation

11.2 Initial Copy

11.3 Repeat Steps 5.2 and Go to


Step 7.6

11.4 Notifies issuer that the Order is


ready for release at the MSRD.
Go to Step 12 and Step 4.6
12 12.1 Receives ORDER of 12.1 Endorse copy of the Order to Varies Specialist
Revocation . ICTD for posting
12.2 Submits Affidavit of
Publication 12.2 Posting of Order of Revoca-
tion at Commission’s website ICTD Staff
END OF TRANSACTION

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Application for Confirmation of Exempt Transaction


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any person seeking for confirmation of an exemption from the Commission
What are the requirements : 1) SEC Form 10.1 Additional Requirements for Listed Companies:
2) Written Disclosure 1) Mandate letter from Underwriters
3) Notice to Stockholders 2) Underwriting Agreement
4) List of Stockholders 3) Certification of No Remuneration/Compensation
5) Latest Audited Financial Statements
6) Waiver of Pre-emptive Rights (if applicable)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Secures Application for Gives client the application form for 10 minutes Support Staff 1) SEC Form 10.1
Registration from MSRD/ confirmation of exempt ion and 2) Other docu-
SEC website additional instructions ments

2 Presents documents Pre-process the accomplished form 30 minutes Specialist Application Letter
and supporting documents with supporting
documents
If incomplete, returns document for
completion

If complete, prepare the Payment Payment Assess-


Assessment Form and advises ment Form (PAF)
client to pay the prescribed fee
at the Cashier.

3 Presents the PAF at the Processes payment and issues Offi- 10 minutes Cashier 1/10 of 1% Official Receipt
Cashier and settles the pre- cial Receipt and validate PAF of the Aggre- and PAF
scribed fee gate Total Val-
N.B. Fees paid relative to the ex- ue of the
emption shall be credited as filing Shares / Securi-
fee for the subsequent registration ties to be sold
of exempted securities or issued but in
no case less
than P1,000.
Market and Securities Regulation Department P a g e 87
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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 Submits application, sup- a) Receives and forwards the ap- 3-5 days CRMD Support Staff
porting documents and plication form to the CRMD
machine-validated PAF/ Staff.
Official Receipt b) Advises the applicant to follow-
up the application at MSRD.
c) Upon receipt of the application, CRMD Staff
 Encodes the application in
the SEC Internal Database,
and provide “Document ID
Number”
 Attaches a copy of the latest
submitted (Amended) Arti- CRMD Support Staff
cles of Incorporation and/or
any incorporation docu-
ments.
d) Logs and delivers the application
form to MSRD

5 Receives, encodes and forwards 15 minutes Support Staff


application for confirmation to the
Assistant Director

6 Makes an evaluation of the request. 1 hour Specialist


Issues resolution on the application

7 Reviews and make additional in- 1 hour Chief Counsel


puts, if necessary

8 Reviews and signs the resolution 1 day Director

9 Picks-up and receives the Transmits resolution to applicant 15 minutes Executive Assistant
Resolution or Letter from and Electronic Records Manage-
MSRD. ment Division.
END OF TRANSACTION

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Application for Exemption from Registration of Stock Option Plan


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any entity that issues stock offering plan
What are the requirements :

A. Letter Request containing the following information:


 Registered Name of the Applicant/User
 Purpose of the Grant of the Applicant
 Number of Option Shares to be issued/Offer Price
 Names and Addresses of the Applicant subsidiaries and affiliated companies and their dates of registration with the SEC
 Issue Price or Exchange Rate, including the source or basis of the “option shares at the time of filing”
 Term of the Stock Option Plan
B. Latest Audited Financial Statements
C. Articles of Incorporation of the Applicant/Issuer
D. Board of Directors’ and Stockholders’ Resolution approving the plan and authorizing the issuance of stock options
E. Notarized attestation of the Corporate Secretary of the applicant pursuant to Rule 10.2.3.2:
 Approval of the applicant’s Board of Directors and required Stockholders’ approval of the stock offering plan
 Genuineness and due execution of the Plan, a copy of which shall be attached to the certificate
 If applicable, Breakdown of the number of option shares earlier exempted from registration, the shares subscribed by the optionees, and
the remaining unissued shares computed on a year-to year basis, status of the unissued shares and an explanation on why the applicant
has renewed its application in spite of the availability of unissued shares
 If the applicant is a foreign corporation, the procedures or guidelines of the Plan on the sale, assignment, transfer or disposition of the
shares acquired by the optionees.
F. Certificate under Oath by the applicant’s Head of Human Relations or equivalent position, or President of the Employees Union, at the option at
the applicants, on the following items:
 Names and positions of eligible or qualified optionees and number of allotment per employee
 Statement that the optionees have been informed about the terms and conditions, including the attendant risks of the Plan, to enable
them to make a reasonable judgment on the advantages and disadvantages of the Plan
 Reading materials, i.e. brochures, pamphlets, etc., if any
 Disclosure whether or not there are Independent Directors grantees. If yes, disclose the total percentage of ownership after the grant
G. Undertaking to pay price difference from the price at the time of filing before the SEC
H. Undertaking for the Issuer to give continuous access on its Key Performance Indicators

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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Secures checklist of from Provides client with checklist of re- 10 minutes Support Staff Checklist of Require-
MSRD. quirements and instruction ments

2 Presents the accomplished Pre-processes the accomplished form 30 minutes Specialist Application Letter
form and supporting docu- and supporting documents with supporting doc-
ments for pre-processing uments
2.1.a If incomplete, returns docu-
ments for completion
PAF
2.1.b If complete, prepares the Pay-
ment Assessment Form and advises
client to pay the prescribed fee at
the Cashier.

3 Presents the PAF at the Processes payment and issues Official 10 minutes Cashier 1/10 of 1% Issuance of Official
Cashier and settles the pre- Receipt and validate PAF of the Aggre- Receipt and PAF
scribed fee gate Total Val-
ue of the
Shares / Securi-
ties being of-
fered plus 1%
LRF
4 Submits application, sup- 4.1 Receives and encodes docu- 10 minutes Support Staff
porting documents and ma- ments;
chine-validated PAF 4.2 Delivers document to Assistant
Director (AD) for assignment.
4.3 Updates records and delivers
documents to assigned Special-
ist. Go to Step 6
4.4 Transmit letter to applicant. Go
to Step 7
4.5 Delivers Memo to Supervising
Commissioner/Commission Secre-
tary
4.6 Forwards records to ICTD for
microfilming. END

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
5 5.1 Assigns application to Specialist Assistant Director
5.2 Review and initials the following:
5.2.a. DRAFT letter/memo advise-
ment/Resolution
5.2.b. FINAL letter/memo advise-
ment/Resolution

6 6.1 Review documents Specialist/Staff


6.2 Prepare and initials DRAFT/FINAL
Comment Letter/based
on findings or En Banc Decision
Repeat Steps 5.2
6.3 Prepare DRAFT/FINAL Memo/
Resolution.
Go to Step 8

7 Files reply/compliance with If compliant, Go to Step 6.3


Comment Letter
8 For DRAFT/FINAL Director
Comment/Memo/Resolution
8.1 Review and initials documents
8.2 Returns documents to Special-
ist /
Assistant Director. Go to Step 6
8.3 Presents to Commission En Banc
8.4 Inform Specialist of En Banc Deci
sion. Go to Step 6.3
8.5 Review and signs document.
Go to Step 4.6

9 Picks-up and receives the


Resolution or Letter from
MSRD.
END OF TRANSACTION
Market and Securities Regulation Department P a g e 91
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Application for Exemption from Registration of Limited Public Offering and Other Exempt
Transaction
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any person seeking exemption from registration under Rule 10.2 by reason of small amount involved or
the limited character of the public offering
What are the requirements : 1) Letter Request
2) Other documents that the Commission may prescribe
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Secures checklist of from Provides client with checklist of re- 10 minutes Support Staff Checklist of Re-
MSRD. quirements and instruction quirements

2 Presents the accomplished Pre-processes the accomplished 30 minutes Specialist Application Letter
form and supporting docu- form and supporting documents with supporting
ments for pre-processing documents
2.1.a If incomplete, returns docu-
ments for completion PAF

2.1.b If complete, prepares the


Payment Assessment Form and ad-
vises client to pay the prescribed
fee at the Cashier.

3 Presents the PAF at the Processes payment and issues Offi- 10 minutes Cashier 1/10 of 1% Issuance of Official
Cashier and settles the pre- cial Receipt and validate PAF of the Aggre- Receipt and PAF
scribed fee gate Total Val-
ue of the
Shares / Securi-
ties being of-
fered plus 1%
LRF

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 Submits application, sup- 4.1 Receives and encodes docu- 10 minutes Support Staff
porting documents and ments;
machine-validated PAF 4.2 Delivers document to Assistant
Director (AD) for assignment.
4.3 Updates records and delivers
documents to assigned Spe-
cialist. Go to Step 6
4.4 Transmit letter to applicant. Go
to Step 7
4.5 Delivers Memo to Supervising
Commissioner/Commission Sec-
retary
4.6 Forwards records to ICTD for
microfilming. END

5 5.1 Assigns application to Specialist Assistant Director


5.2 Review and initials the follow-
ing:
5.2.a. DRAFT letter/memo ad-
visement/Resolution
5.2.b. FINAL letter/memo ad-
visement/Resolution

6 6.1 Review documents Specialist


6.2 Prepare and initials DRAFT/
FINAL Comment Letter based
on findings. Repeat Steps 5.2
6.3 Prepare DRAFT/FINAL Memo/
Resolution. Go to Step 8

7 Files reply/compliance with If compliant, Go to Step 6.3


Comment Letter

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
8 For DRAFT/FINAL Director
Comment/Memo/Resolution
8.1 Review and initials documents
8.2 Returns documents to Special-
ist / Assistant Director. Go to Step 6
8.3 Presents to Commission En Banc
8.4 Inform Specialist of En Banc De-
cision. Go to Step 6
8.5 Review and signs document.
Go to Step 4.6

9 Picks-up and receives the


Resolution or Letter from
MSRD.
END OF TRANSACTION

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Review of Information Statement prior to its Distribution in the Stockholders Meeting


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registered Issuer of Equities, Debt Securities and Real Estate Investment Trust (REIT) and Reporting Companies
What are the requirements : 1) SEC Form 20-IS
2) Management Report
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Presents Preliminary copies Prepares Payment Assessment Form 10 minutes Specialist P5,050 for SEC Form 20-IS
of Information Statement (PAF) and advises client to pay the registrant (Preliminary)
(IS) and Management Re- prescribed fee at the Cashier P2,020 other Management Re-
port (MR) than the regis- port
trant
2 Presents the PAF at the Processes payment and issues Offi- 10 minutes Cashier Official Receipt
Cashier and settles the pre- cial Receipt and validates PAF and PAF
scribed fee

3 Submits IS, MR and ma- a) Receives and forwards docu- 5 minutes Executive Assistant
chine-validated PAF ments
b) Faxes comment

4 a) Receives, encodes and/or for- 5 minutes Support Staff


wards documents to assigned
Specialist
b) Mails comment.
c) Encodes and forwards docu-
ments to ICTD for microfilming.
END

5 Reviews and prepares DRAFT/FINAL 2 hours Specialist


comment letter

6 Reviews and Initials DRAFT/FINAL 1 hour Assistant Director


Comment letter
Market and Securities Regulation Department P a g e 95
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
7 Reviews and signs DRAFT/FINAL 1 hour Director
Comment letter. Repeat Step 3

8 Files Definitive IS and MR a) Reviews documents, if compli- Specialist SEC Form 20-IS
Calls MSRD Specialist for ant, advises to proceed with (Definitive Copy)
clearance. the distribution of IS and MR to
stockholders. Management Re-
If compliant : Distribute port
copies to stockholders. If not compliant, issues 2nd com-
END ment letter, Repeat Steps 5 to 7.

9 9.1 Submits necessary infor- a) Reviews documents Specialist/Lawyer MSRD Order


mation/documents b) Forwards request to Lawyer and
9.2 Files an undertaking to prepares Order allowing Issuer
comply with Commission to distribute. Repeat Steps 6
directive and 7
9.3 Submits Order of Publi- c) Consolidates documents and
cation forward to Support Staff. Re-
peat Step 4.3
END OF TRANSACTION

Market and Securities Regulation Department P a g e 96


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Request for Exemptive Relief/Confidential Treatment of Information Filed


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registered Issuer of Equities, Debt Securities and Real Estate Investment Trust (REIT)
What are the requirements : Letter Request and the required exhibits
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Submit documents Issue Payment Assessment Form (PAF) Specialist P50,000 per issue
and per compa- PAF
ny*
Request for con-
fidentiality has
no filing fee
2 Receives PAF and proceeds Receives payment and issue Official Varies Cashier Amount im-
to Cashier for payment Receipt and machine validate PAF posed

3 Forwards validated PAF and Receives the validate PAF and docu- 10 minutes Support Staff PAF
documents to receiving ment. Forward to handling Specialist
Letter request
3.1 Receives and encodes documents

3.2 Delivers documents to Assistant


Director (AD) for assignment. Go
to Step 4.1

3.3 Updates records and delivers docu


ments to assigned Legal Counsel.
Go to Step 5.1.

3.4 Transmit letter to registrant. Go to


Step 8.

3.5 Delivers Memo to Supervising Com-


missioner/Commission Secretary for En
Banc presentation. Go to Step

3.6 Forwards records to ICTD for micro-


filming. END

Market and Securities Regulation Department P a g e 97


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 4.1 Assigns application to Legal Coun- 10 minutes Assistant Director
sel. Forwards documents to Support
Staff. Go to Step 3.3

4.2 Reviews and initials the following:

4.2.a. DRAFT letter/memo/


advisement. Go to Step 6.1 and 7.1

4.2.b. FINAL letter/memo/


advisement letter. Go to Step 7.2

5 5.1 Review documents Legal Counsel

5.1.a. If the request is novel, Pre-


pare and initial DRAFT/FINAL letter
directing to provide additional in-
formation from the company. Go
to Step 4.2

5.1.b. If the request is not novel or


the department has received the
additional information pursuant to
Step 5.1.a hereof, prepare Memo-
randum to the Commission En
Banc. Go to Step 6.

5.2 Prepares and initials DRAFT/FINAL


letter of advisement. Repeat Steps

6 6.1 For DRAFT COMMENT/NOTICE/ Director


MEMORANDUM

6.1.a. Reviews and initial docu-


ments. Go to Step 4.2.b.

6.1.b. Returns document to Legal


Counsel.
Market and Securities Regulation Department P a g e 98
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
6 6.2 For FINAL COMMENT/NOTICE Director

6.2.a. Reviews and signs docu-


ment. Go to Step 4.2.b.

6.3 If FINAL MEMO, review and sign


document.

6.4 Presents to the Commission En


Banc
6.5 Informs Legal Counsel of En
Banc Decision .

7 7.1 Receives advice of the resolu- 1 day after the Commis- Legal Counsel
tion of the Commission on the ap- sion En Banc meeting
plication.

7.1.a If approved, prepares a


letter informing the applicant
of the approval. Repeat Step
4.2,.
7.1.b If not approved, prepares
a letter informing the applicant
of the denial of the request
and additional instructions/
guidance from the Commis-
sion. Repeat Step 4.2

7.2 Seals documents and forwards


to Office of the Commission Secre-
tary for safe keeping . END
8 Receives Letter of Advise-
ment
END OF TRANSACTION

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Accreditation of Surety Companies


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Surety Companies
What are the requirements : All documents enumerated in Form SCA-001
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
PRE PROCESSING

1 Secures application form Provides client application forms, and 5 minutes Specialist assigned Form SCA-001
checklist of requirements.

2 Presents application and 1) Pre-evaluates application and sup- 30 minutes Specialist assigned PAF
supporting documents porting documents
if application and supporting doc-
uments are not complete, these
are returned to applicant with the
list of requirements not complied
with
if application and supporting doc-
uments are complete, the Special-
ist -in -charge clears application for
payment of the prescribed fees
(proceeds to No. 2)

2) Prepares Payment Assessment 10 minutes


Form (PAF) and instructs applicant to
leave a copy of the application doc-
uments with MSRD and to proceed to
the Cashier

3 Presents the PAF at the Processes payment and issues OFFI- 10 minutes Cashier Filing Fee:
Cashier and settles the re- CIAL RECEIPT and machine validate P5,000.00
quired fee PAF LRF*: P50.00

4 Submits the machine- Secures and attach the machine- 1 minute Specialist assigned
validated PAF validated PAF to the application
documents. 3 minutes
Market and Securities Regulation Department P a g e 100
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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
PROCESSING PROCEDURES
1 Assigns application to Specialist in 5 minutes Support Staff
charge and inputs in logbook

2 Forwards documents to Specialist in- 3 minutes Support Staff


charge

3 Reviews application and supporting 1 day Specialist assigned


documents using checklist.

4 If application is fully compliant with all 1 day Specialist assigned


requirements, prepares Memorandum
to Commission to En Banc

5 Reviews memorandum and forwards it Within 1 day Legal Counsel/Assistant


to Support Staff Director

6 Support staff logs memorandum and 30 minutes Support Staff


forwards it to Director

7 Reviews memorandum Within 1 day Director


8 Signs and presents Memo to the Com- Within the immediately Director
mission En Banc for consideration succeeding Commission en
Banc meeting

9 Receives advice of the resolution of the Within 1 day after the Specialist assigned
Commission on the application: Commission En Banc meet-
If approved: ing
a) Prepares Certificates of Accredita-
tion
b) Prints two (2) copies
c) Initials on copies
d) Director signs certificate
e) Releases Certificate of accredita-
tion and forwards duplicate file to
Specialist assigned
f) Files Certificate and all supporting
documents
END OF TRANSACTION

Market and Securities Regulation Department P a g e 101


Table of Contents

Request for SEC Clearance


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any entity as may be allowed by the Commission and Holder of a Secondary License
What are the requirements : SEC MSRD Request Form
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)

1 Secures SEC-MSRD request Advises applicant to submit SEC- 10 minutes Support Staff SEC-MSRD request
form MSRD request form and gives client form
the necessary instructions
2 Submits filled-up SEC-MSRD Receives request form or request 30 minutes Support Staff
request form letter, logs in and forwards the re-
quest letter to the assigned Special-
ist, if applicant is a holder of a sec-
ondary license. If not, prepares a
clearance.
PROCESSING PROCEDURES
1 Logs in and forwards request letter 10 minutes Support Staff
to Specialist- in- charge.
2 Evaluates request, prepares the 30 minutes Specialist assigned
clearance needed and submits
to the Support Staff for recording
purposes.

3 Forwards the documents to the As- 30 minutes Support Staff


sistant Director
4 Reviews Clearance: 30 minutes Securities Counsel/
If no revision is needed, forwards to Chief Counsel/
the Support Staff for submission to Assistant Director
the Director for signature

If revision is needed, returns to spe-


cialist for revision.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
5 5.1 Makes the necessary revision 15 minutes Specialist assigned
and forwards the same to the Sup-
port Staff for recording.
5.2 Files clearance, request letter
and supporting documents.

6 6.1 Forwards the clearance to the 10 minutes Support Staff


Assistant Director for initial.
6.2 Forwards the Clearance to the
Director for final review/signature

7 7.1 Reviews Clearance and recom- 30 minutes Director


mends revisions, if warranted.

7.2 If no further comments/revisions,


signs and forwards to the Executive
Assistant for release.
END OF TRANSACTION

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Table of Contents

Request for Comment/Recommendation on the Application for Articles of Incorporation/


Partnership/By-Laws and Amendments relative thereto
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Holder of a Secondary License
What are the requirements : SEC MSRD Request Form
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)

1 Secures SEC-MSRD request Advises applicant to submit SEC- 10 minutes Support Staff SEC-MSRD request
form MSRD request form and gives client form
the necessary instructions
2 Submits filled-up SEC-MSRD Receives request form or request 30 minutes Support Staff
request form with attached letter, logs in and forwards the re-
quest letter to the assigned Special-
ist, if applicant is a holder of a sec-
ondary license. If not, prepares
comments/ recommendations
PROCESSING PROCEDURES
1 Logs in and forwards request letter 10 minutes Support Staff
to Specialist- in- charge.
2 Evaluates request and prepares the 1 day Specialist assigned
comments/recommendations and
returns to Support Staff for record-
ing purposes and submission to the
Assistant Director.
3 Reviews Comments/ Recommen- Within 1 day Securities Counsel/
dation: Chief Counsel/
If no revision is needed, forwards to Assistant Director
Director for signature.
If revision is needed, returns to spe-
cialist for revision.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 Makes the necessary revision and 30 minutes Specialist assigned
forwards the documents to the Sup-
port Staff for recording.

5 5.1 Forwards the comments/ rec- 10 minutes Support Staff


ommendations to the Assistant Di-
rector for initial.
5.2 Forwards the comment/
recom-mendations to the Director
for final review/signature

6 Reviews comments/ recommenda- Within 1 day Director


tion and recommends revisions, if
warranted.
If no further comment/revisions,
signs and forwards to the Executive
Assistant for release

7 File comments/recommendations, 10 minutes Specialist assigned


request letter and supporting docu-
ments.
END OF TRANSACTION

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Application of Registration as an Exchange/Exchange-SRO/Clearing Agency/


Clearing Agency-SRO and Depository
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Exchanges and Other Securities Trading Markets
What are the requirements :
A. Cover Sheet
B. SEC Form-33/SEC Form 33-SRO (For Exchange); SEC Form 42-CA/SEC Form 42-SRO (For Clearing Agency); SEC Form 42-SD/SEC Form 42-SRO
(For Securities Depository)
C. Statements and Exhibits required by SEC Form-33/SEC Form 33-SRO; SEC Form 42-CA/SEC Form 42-SRO; SEC Form 42-SD/SEC Form 42-SRO
D. Copy of the latest GIS
E. Copy of the license of the CPA
F. Manual on Corporate Governance
G. Other requirements under Section 33.1 and 39.1.1 of the 2015 SRC Rules (for Exchange/Exchange-SRO)
H. Other requirements under Section 42.1 and 39.1.1 of the 2015 SRC Rules (for Clearing Agency and Securities Depository)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Secures Application for Gives client the necessary applica- 10 minutes Support Staff a) SEC Form 33/
Registration from MSRD. tion form and additional instructions SEC Form 33-
SRO
b) SEC Form 42-
CA/SEC Form
42-SRO
c) SEC Form 42-SD/
SEC Form 42-SRO
2 Presents the accomplished Pre-processes the accomplished 30 minutes Specialist See separate Accomplished SEC
form and supporting docu- form and supporting documents schedule of Form With support-
ments for pre-processing fees and ing documents
by the MSRD Specialist a) If incomplete, completes the charges here
documents first.
b) If documents are complete, Payment Assess-
prepares the Payment Assess- ment Form (PAF)
ment Form and advises client to
pay the prescribed fee at the
Cashier.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
3 Presents the PAF at the Processes payment and issues Offi- 10 minutes Cashier P50,500 Official Receipt
Cashier and settles the pre- cial Receipt and validate PAF (inclusive of 1% and PAF
scribed fee Legal Research
Fee)
4 Submits application, sup- Receives, encodes and forwards 10 minutes Support Staff
porting documents and the application to the Assistant Di-
machine-validated PAF/ rector or Specialist or Legal Counsel
OR
5 Reviews and examines documents 90 days Chief Counsel
as to their compliance with the re- Securities Counsel
quirements of the SRC. Examiner
Specialist
a) If the documents are deficient,
requests applicant to correct
deficiencies. OTHERWISE, go to
STEP 2.
b) Accepts corrected documents.

6 Prepares Comment or Memoran- 12 days Chief Counsel


dum elevating the matter to the Securities Counsel
Commission En Banc for its approv- Examiner
al. Specialist
7 Reviews the Comment and/or 3 days Assistant Director
Memorandum.

8 Reviews and Signs the Comment 1 day Director


and/or Memorandum for presenta-
tion to the Commission En Banc.

9 Transmits the Comment to the Ap- 30 minutes Executive Assistant


plicant or; Transmits the Memoran-
dum to the Commission Secretary
for inclusion in the Agenda of the
Commission En Banc’s meeting.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
10 Presents the application to the 1 day Director
Commission En Banc.

11 If registration is approved,
a) Prepares the certificate or li- 30 minutes Specialist
cense, and forwards it to the
Div.’s support staff.
b) Assigns and records license 10 minutes Support Staff
number to the prepared certifi-
cate or license.
c) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the AD for review and initial.
d) AD reviews and initials. 1 hour Assistant Director
e) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the Director for review and sig-
nature.
f) Director reviews and signs. 1 hour Director
g) Records and then forwards orig- 10 minutes Support Staff
inally-signed certificate or li-
cense to the ERMD-Releasing
Section for release.
h) Provides the IPSD w/ a replicate 5 minutes Support Staff
copy of the certificate or li-
cense for filing. Specialist/Support
i) Files replicate copy. 10 minutes Staff

12 If the Commission favors instituting


Proceedings for denial, it Director
a) Schedules hearing
b) Conducts hearing Commission
c) Makes decision

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
13 If after hearing, registration is ap-
proved, go to STEP 11.

14 If after hearing, registration is de-


nied,
a) Drafts response letter informing 1 day Specialist
applicant of the decision.
b) Forwards draft copy to AD for 3 minutes Specialist
review.
c) AD reviews draft letter and 4 hours Assistant Director
gives instruction.
d) Prepares final copy incorporat- 30 minutes Specialist
ing suggested changes by the
AD, if any.
e) Forwards the letter to the AD for 3 minutes Support Staff
review and signature.
f) AD reviews and initials. 30 minutes Assistant Director
g) Forwards the letter to the Direc- 3 minutes Support Staff
tor for review and signature.
h) Director reviews and signs. 1 hour Director
i) Records and forwards to the 10 minutes Support Staff
Mailing Section of the SEC the
signed letter for transmittal to
the applicant.
j) Provides the IPSD with a repli- 5 minutes Support Staff
cate copy of the letter for filing.
k) Files replicate copy. 10 minutes Specialist
Support/Clerical
15 Picks-up and receives the Verbally requests applicant to pick 20 minutes Specialist
license/certificate from up and receive the
ERMD-Releasing, or Denial a) License or certificate, if ap-
Letter from MSRD proved, or
b) Denial letter, if denied.
END OF TRANSACTION

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Filing Fee:

New Annual Fees


Exchanges PhP50,000 + LRF of 1% See table below
Philippine Stock Exchange (PSE) Per Semester, 1/100 of 1% of the aggregate amount of sales of securities transacted on such Exchange during
Additional Fees of Exchanges the preceding calendar year or any part thereof.
Per Semester, 1/1,000 of 1% of the aggregate amount of sales of securities transacted on such Exchange during
Philippine Dealing and Exchange Corpora-
the preceding calendar year or any part thereof.
tion (PDEX)
(The complete list of Transaction Fees for the Value Turnovers per Semester was provided in SEC Memorandum
Additional Fees of Exchanges
Circular No. 12, Series of 2016)
1/1,000 of 1% of transactions cleared and settled in the
Clearing Agencies PhP50,000 + LRF of 1%
previous year + LRF of 1%
1/2,000 of 1% of securities in custody during the previ-
Central Depositories PhP50,000 + LRF of 1%
ous year + LRF of 1%
Self Regulatory Organizations (SRO) PhP50,000 + LRF of 1% PhP100,000 + LRF of 1%

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Application of Registration as Registrar of Qualified Buyer


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any entity as may be allowed by the Commission
What are the requirements :
A. Cover Sheet
B. SEC Form 39-Registrar
C. Attachments required by SEC Form 39-Registrar
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)

1 Secures Application for Gives client the necessary applica- 10 minutes Support Staff SEC Form 39-
Registration from MSRD. tion form and additional instructions Registrar/AMD

2 Submits the accomplished Evaluates registration documents 30 minutes Specialist/Examiner Accomplished SEC
form and other documents submitted and prepares letter to Form With support-
to MSRD for review and applicant to make presentation on ing documents
processing their registry procedures

3 Makes a presentation to Attends the presentation to MSRD 1 hour Specialist/Examiner


MSRD on the registry pro- on the registry procedures. Director /Chief
cedures. Counsel

4 Waits for the advise from Specialist reviews the contents of 30 minutes Specialist/Examiner
MSRD if the result of review the submitted documents as well as
is Ok and application is the presentation made as to their
approved otherwise, ac- compliance with the requirements
complish first what is being of relevant laws, rules and regula-
required. tions of the SRC
a) If registration documents is
complete and compliant, pro-
ceed immediately to STEP 10
b) If registration documents are
deficient and non-compliant,
send deficiency letter to appli-
cant

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
5 Preparation of deficiency letter
a) Specialist prepares letter to appli- 30 minutes Specialist/Examiner
cant for the deficiency(s)/ obser-
vation(s) noted
b) Specialist forwards the draft to 3 minutes Specialist/Examiner
the AD for further review
c) AD reviews and comments 1 hour Assistant Director
d) AD returns draft to the Specialist
for revision, if any
e) Specialist finalizes the draft, initials 30 minutes Specialist/Examiner
and forwards the same to the AD
f) AD reviews, initials and forwards 30 minutes Assistant Director
to Director for final review and
approval
g) Director reviews and signs Direc- 1 hour Director
tor forwards signed letter to the
Support/Clerical Staff for transmit-
tal

6 6.1 Support Staff receives reply letter 5 minutes Support Staff


from the applicant and supporting
documents, if any
6.2 Support Staff logs the document
and forwards it to the AD

7 AD forwards the additional docu- 5 minutes Support Staff


ments to the concerned Specialist

8 Specialist reviews and evaluates again 1 hour Specialist/Examiner


the contents of the additional docu-
ments submitted
a) If additional documents are suffi-
cient and compliant, proceed to
STEP 10
b) If additional documents are still de-
ficient and non-compliant, send
deficiency letter to applicant. Pro-
ceed to STEP 5
Market and Securities Regulation Department P a g e 112
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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
9 Preparation of approval letter 30 minutes Specialist/Examiner
a) Specialist prepares letter to ap-
plicant approving its registration
application
b) Specialist forwards the draft to
the Assistant Director (AD) for
further review 1 hour Assistant Director
c) AD reviews and comments
d) AD returns draft to the Specialist
for revision, if any
e) Specialist finalizes the draft, ini- 30 minutes Specialist/Examiner
tials and forwards the same to
the AD
f) AD reviews, initials and forwards 30 minutes Assistant Director
to Director for final review and
approval
g) Director reviews and signs
h) Director forwards signed letter 1 hour Director
to the Support/Clerical Staff for
transmittal

10 Specialist files the documents and within 5 minutes Specialist/Examiner


furnishes a copy to the monitoring
division of MSRD
END OF TRANSACTION

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Application of Alternative Trading System and Central Trade Reporting System


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any entity as may be allowed by the Commission
What are the requirements :
For ATS Registration
A. Cover Sheet
B. ATS Registration Form (ATS Form 1)
C. Statements and Exhibits required by ATS Form 1
D. Copy of the latest GIS
E. Copy of the license of the CPA
F. Manual on Corporate Governance
G. Requirements under Section II of the SEC Rules on alternative Trading System
For CTRS Registration
A. Cover Sheet
B. Application for Central Trade Reporting System
C. Statements and Exhibits required by Section 17 of SEC Memorandum Circular No. 14 Series of 2006
D. Copy of the latest GIS
E. Copy of the license of the CPA
F. Manual on Corporate Governance
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Secures Application for Gives client the necessary applica- 10 minutes Support Staff ATS Form 1 (for ATS)
Registration from MSRD. tion form and additional instructions

2 Presents the accomplished Pre-process the accomplished form 30 minutes Specialist Accomplished SEC
form and supporting docu- and supporting documents Form
ments for pre-processing a) If incomplete, complete the With supporting
by the MSRD Specialist documents first. documents
b) If documents complete, pre-
pare the Payment Assessment Payment Assess-
Form and advises client to pay ment Form (PAF)
the prescribed fee at the Cash-
ier.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
3 Presents the PAF at the Processes payment and issues Offi- 10 minutes Cashier P50,500 Official Receipt
Cashier and settles the pre- cial Receipt and validate PAF (inclusive of 1% and PAF
scribed fee Legal Research
Fee)
4 Submits application, sup- Receives, encodes and forwards 10 minutes Support Staff
porting documents and the application to the Assistant Di-
machine-validated PAF/ rector or Specialist or Legal Counsel
OR
5 Reviews and examines documents 90 days Chief Counsel
as to their compliance with the re- Securities Counsel
quirements of the SRC. Examiner
a) If the documents are deficient, Specialist
requests applicant to correct
deficiencies. OTHERWISE, go to
STEP 2.
b) Accepts corrected documents.

6 Prepares Comment or Memoran- 12 days Chief Counsel


dum elevating the matter to the Securities Counsel
Commission En Banc for its approv- Examiner
al. Specialist

7 Reviews the Comment and/or 3 days Assistant Director


Memorandum.

8 Reviews and Signs the Comment 1 day Director


and/or Memorandum for presenta-
tion to the Commission En Banc.

9 Transmits the Comment to the Ap- 30 minutes Executive Assistant


plicant or; Transmits the Memoran-
dum to the Commission Secretary
for inclusion in the Agenda of the
Commission En Banc’s meeting.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
10 Presents the application to the 1 day Director
Commission En Banc.
11 If registration is approved,
a) Prepares the certificate or li- 30 minutes Specialist
cense, and forwards it to the
Div.’s support staff.
b) Assigns and records license 10 minutes Support Staff
number to the prepared certifi-
cate or license.
c) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the AD for review and initial.
d) AD reviews and initials. 1 hour Assistant Director
e) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the Director for review and sig-
nature.
f) Director reviews and signs. 1 hour Director
g) Records and then forwards orig- 10 minutes Support Staff
inally-signed certificate or li-
cense to the ERMD-Releasing
Section for release.
h) Provides the IPSD w/ a replicate 5 minutes Support Staff
copy of the certificate or li-
cense for filing.
i) Files replicate copy. 10 minutes Specialist
Support Staff
12 If the Commission favors instituting
Proceedings for denial, it
a) Schedules hearing Director
b) Conducts hearing Commission En Banc
c) Makes decision. Commission En Banc

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
13 If after hearing, registration is ap-
proved, go to STEP 11.

14 If after hearing, registration is de-


nied,

a) Drafts response letter informing 1 day Specialist


applicant of the decision.
b) Forwards draft copy to AD for 3 minutes Specialist
review.
c) AD reviews draft letter and 4 hours Assistant Director
gives instruction.
d) Prepares final copy incorporat- 30 minutes Specialist
ing suggested changes by the
AD, if any.
e) Forwards the letter to the AD for 3 minutes Support Staff
review and signature.
f) AD reviews and initials. 30 minutes Assistant Director
g) Forwards the letter to the Direc- 3 minutes Support Staff
tor for review and signature.
h) Director reviews and signs. 1 hour Director
i) Records and forwards to the 10 minutes Support Staff
Mailing Section of the SEC the
signed letter for transmittal to
the applicant.
j) Provides the IPSD with a repli- 5 minutes Support Staff
cate copy of the letter for filing.
k) Files replicate copy. 10 minutes Specialist
Support Staff
15 Picks-up and receives the Verbally requests applicant to pick 20 minutes Specialist
license/certificate from up and receive the
ERMD-Releasing, or Denial a) License or certificate, if ap-
Letter from MSRD proved, or
b) Denial letter, if denied.
END OF TRANSACTION

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Application for Over-the-Counter Market/Association of Securities Brokers and Dealers


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Any entity as may be allowed by the Commission
What are the requirements :
A. Cover Sheet
B. SEC Form 39-BD (for Association of Securities Brokers and Dealers)/ SEC Form 33-SRO (OTC Market)
C. Statements and Exhibits required by SEC Form 39-BD and SEC Form 33-SRO
D. Copy of the latest GIS
E. Copy of the license of the CPA
F. Manual on Corporate Governance
G. Other requirements under Section 39.1.2 of the 2015 SRC Rules (for Association of Securities Brokers and Dealers)
H. Other requirements required by SEC Memorandum Circular No.14 series of 2006 (for OTC Market)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)

1 Secures Application for Gives client the necessary applica- 10 minutes Support Staff SEC Form 39-BD
Registration from MSRD. tion form and additional instructions
2 Presents the accomplished Pre-process the accomplished form 30 minutes Specialist Accomplished SEC
form and supporting docu- and supporting documents Form With support-
ments for pre-processing a) If incomplete, complete the ing documents
by the MSRD Specialist documents first.
b) If documents complete, pre- PAF
pare the Payment Assessment
Form and advises client to pay
the prescribed fee at the Cash-
ier.
3 Presents the PAF at the Processes payment and issues O.R. 10 minutes Cashier PhP50,500 OR
Cashier and settles the pre- and validated PAF (inclusive of 1%
scribed fee Legal Research
Fee)
4 Submits application, sup- Receives, encodes and forwards 10 minutes Support Staff
porting documents and the application to the Assistant Di-
machine-validated PAF/ rector or Specialist or Legal Counsel
OR

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
5 Reviews and examines documents 90 days Chief Counsel
as to their compliance with the re- Securities Counsel
quirements of the SRC. Examiner
a) If the documents are deficient, Specialist
requests applicant to correct
deficiencies. OTHERWISE, go to
STEP 2.
b) Accepts corrected documents.
6 Prepares Comment or Memoran- 12 days Chief Counsel
dum elevating the matter to the Securities Counsel
Commission En Banc for its approv- Examiner
al. Specialist
7 Reviews the Comment and/or 3 days Assistant Director
Memorandum.
8 Reviews and Signs the Comment 1 day Director
and/or Memorandum for presenta-
tion to the Commission En Banc.
9 Transmits the Comment to the Ap- 30 minutes Executive Assistant
plicant or;
Transmits the Memorandum to the
Commission Secretary for inclusion
in the Agenda of the Commission
En Banc’s meeting.
10 Presents the application to the 1 day Director
Commission En Banc.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
11 If registration is approved,
a) Prepares the certificate or li- 30 minutes Specialist
cense, and forwards it to the
Div.’s support staff.
b) Assigns and records license 10 minutes Support Staff
number to the prepared certifi-
cate or license.
c) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the AD for review and initial.
d) AD reviews and initials. 1 hour Assistant Director
e) Forwards the certificate or li- 3 minutes Support Staff
cense, and other documents to
the Director for review and sig-
nature.
f) Director reviews and signs. 1 hour Director
g) Records and then forwards orig- 10 minutes Support Staff
inally-signed certificate or li-
cense to the ERMD-Releasing
Section for release.
h) Provides the IPSD w/ a replicate 5 minutes Support Staff
copy of the certificate or li-
cense for filing.
i) Files replicate copy. 10 minutes Specialist
Support Staff
12 If the Commission favors instituting
Proceedings for denial, it
a) Schedules hearing Director
b) Conducts hearing Commission
c) Makes decision Commission

13 If after hearing, registration is ap-


proved, go to STEP 11.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
14 If after hearing, registration is de-
nied,
a) Drafts response letter informing 1 day Specialist
applicant of the decision.
b) Forwards draft copy to AD for 3 minutes Specialist
review.
c) AD reviews draft letter and 4 hours Assistant Director
gives instruction.
d) Prepares final copy incorporat- 30 minutes Specialist
ing suggested changes by the
AD, if any.
e) Forwards the letter to the AD for 3 minutes Support Staff
review and signature.
f) AD reviews and initials. 30 minutes Assistant Director
g) Forwards the letter to the Direc- 3 minutes Support Staff
tor for review and signature.
h) Director reviews and signs. 1 hour Director
i) Records and forwards to the 10 minutes Support Staff
Mailing Section of the SEC the
signed letter for transmittal to
the applicant.
j) Provides the IPSD with a repli- 5 minutes Support Staff
cate copy of the letter for filing.
k) Files replicate copy. 10 minutes Support Staff

15 Picks-up and receives the Verbally requests applicant to pick 20 minutes Specialist
license/certificate from up and receive the
ERMD-Releasing, or Denial a) License or certificate, if ap-
Letter from MSRD proved, or
b) Denial letter, if denied.
END OF TRANSACTION

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Corporate Governance and Finance Department


1) Registers or grants exemption from registration securities of Mutual Fund Companies (MFCs) and Exchange-Traded Funds (ETFs); issuers of proprie-
tary and non-proprietary membership certificates/shares; timeshares; and commercial papers offered or sold by unlisted or unregistered issuers;
2) Licenses Investment Companies (ICs);
3) Accredits Corporate Governance Training Providers (CGTP);
4) Monitors Public Companies (PCs), Mutual Fund Companies (MFCs), Exchange-Traded Funds (ETFs), Financing Companies (FCs), Lending Compa-
nies (LCs), Issuers of Membership Certificates/Shares, Timeshares/Commercial Papers and Foundations’ compliance with existing laws and regula-
tions;
5) Monitors covered companies’ compliance with the Revised Code of Corporate Governance (RCCG) and other governance issuances of the
Commission;
6) Promotes good corporate practices and principles;
7) Updates the status of some pre-need corporations by virtue of the Commission’s residual power and resolves claims filed with the SEC before the
enactment of the Pre-Need Code;
8) Acts as Credit Information Corporation (CIC) helpdesk;
9) Participates in Congressional hearings on proposed bills affecting the SEC;
10) Participates in inter-agency and private sector meetings or consultations;
11) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Application for License as a Mutual Fund Company


2) Application for Certificate of Permit to Sell Securities and Order of Registration for MFCs, ETFs and Proprietary/Non-Proprietary Shares, Membership
Certificates, Timeshares
3) Application for Accreditation as Corporate Governance Institutional Training Provider
4) Request for Approval of In-House Corporate Governance Trainings/Seminars
5) Request for Exemptive Relief/Confidential Treatment
6) Petition for Voluntary Revocation
7) Monitoring of Financing and Lending Companies
8) Monitoring of Foundations and Microfinance NGOs
9) Monitoring of MFCs, ETFs, PCs, Issuers of Registered Unlisted Securities, and Issuers of Proprietary and Non-Proprietary Shares, Membership Certifi-
cates and Timeshares
10) Monitoring Application for Amendment of Articles of Incorporation and/or By-Laws, Good Standing and Clearance PLCs, MFCs, ETFs, PCs, Issuers of
Proprietary and Non-proprietary Shares, Membership Certificates and Timeshares
11) Request for Comment on Articles of Incorporation and/or By-Laws
12) Monitoring Compliance with Corporate Governance Regulations of Publicly Listed Companies, MFCs, ETFs, PCs, and Issuers of Membership Certifi-
cates and Timeshares
13) Handling of Complaints Filed Against Covered Institutions

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Application for License as a Mutual Fund Company (MFC)*

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Any corporation that intends to operate as a Mutual Fund Company
What are the requirements : SEC Form ICA 7-1
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN CHARGE FEES FORM
ACTIVITY
(under normal
circumstances)
1 Present SEC Form ICA 7-1 Officer of the day SEC Form ICA 7-1
2 Computes Filing Fee and is- 10 minutes Officer of the day
sues Payment Assessment For
(PAF) and advises applicant
to pay prescribed fee to the
Cashier.
3 Pays the prescribed Filing Fee P10,000.00 + LRF per draft Payment Assess-
to the Cashier and submits PAF Consolidated Schedule of ment Form
together with the required Fees and Charges (SEC
documents and its attach- Memorandum Circular No.
ments to receiving clerk/ 12, Series of 2016).
support staff.
4 Receives, encodes and deliv- 10 minutes Support Staff
ers documents to Assistant
Director (AD) for assignment.
END OF TRANSACTION

*This is processed simultaneously with the application to sell securities to the public (SEC Form 12-1 and its exhibits).

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Application for Certificate of Permit to Sell Securities and Order of Registration for Mutual Fund
Companies (MFC), Exchange Traded Funds (ETF), and Proprietary/Non-Proprietary Shares,
Membership Certificates and Timeshares

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Any corporation that intends to sell or offer for sale securities to the Public for Mutual Funds, Exchange
Traded Funds and Issuers of Proprietary/Non-Proprietary, Membership Certificates, and Timeshares
What are the requirements : 1) Accomplished SEC Form 12-1, as amended (Registration Statement)
2) Exhibits to be submitted together with Registration Statement:

I. Initial Minimum Documentary Requirements

a) Audited Financial Statements & Statement of Management’s Responsibility;


b) Draft Notice of Publication;
c) Articles of Incorporation and By-laws;
d) Opinion re: Legality of Issue (notarized);
e) Opinion re: Tax Matter;
f) Consents of Experts and Independent Counsel;
g) Notarized Curriculum Vitae and Recent Photographs of Officers and Members of the Board of Directors;
h) Bank Authorization which shall be continuous as long as the registration of securities of the issuer is effective;
i) Copy of Board Resolution approving the securities offering and authorizing the filing of the RS;
j) Duly verified Board Resolution dated and manually signed by a majority of the issuer’s Board of Directors;
approving the disclosures contained in the RS and assuming responsibility for the information contained
therein;
k) Secretary’s Certificate as to adoption by the company’s Board re: (1) Adoption of a Fit and Proper Rule for
the selection of corporate directors/officer; (2) Submission of an Undertaking allowing the SEC to resolve
conflicting issues regarding the selection of independent directors;
l) Sample of Subscription Agreement;
m) Manual on Corporate Governance; at least 2 Independent Directors; and
n) Anti-Money Laundering Manual

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II. Additional Requirements

a) Mutual Funds:
i) Management Contract/Agreement;
ii) Distribution Agreement;
iii) Custodian or Escrow Agreement;
iv) Advisory Agreement; and
v) Certification, under oath, by the President and Chairman of the Board, or their equivalent in rank, describing
the involvement, if any, by management or members of the Board of Directors in companies that the invest-
ment company will be dealing with.

b) Exchange Traded Funds:


i) Contract/Agreement with Fund Manager;
ii) Contract/Agreement with Authorized Participants;
iii) Contract/Agreement with Market Maker;
iv) Contract/Agreement with Index Provider;
v) Contract/Agreement with Custodian Bank;
vi) Contract/Agreement with Transfer Agent; and
vii) Certification under oath, by the President and Chairman of the Board, or their equivalent in rank, describing the
involvement, if any, by management or members of the Board of Directors in companies that the investment
company will be dealing with.

c) Proprietary/Non-Proprietary Shares, Membership Certificates, Timeshares:


i) Escrow/Custodian Agreement with a reputable bank;
ii) Credit Line Agreement;
iii) House/Membership Rules and Compliance Certificate;
iv) Copy of Environmental Compliance Certificate;
v) Copy of Lease Contract (if property is under Lease);
vi) Certified true copy of Transfer Certificate of Title (TCT);
vii) Copy of brochures and other selling materials;
viii) Copy of Development Agreement; and
ix) Copy of Trust Agreement (if timeshares).

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How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Presents SEC Form 12-1 for Officer of the 1) SEC Form 12-1, as
Pre-evaluation day amended
(Registration
Statement)
2) Exhibits required
2 2.1 Reviews documents. 1 hour Officer of the Pre-evaluation
Accomplishes pre- day Checklist
evaluation checklist
and provide copy to
the applicant based on
the documents pre-
sented.

If COMPLETE, go to Step
2.3.
If INCOMPLETE, go to Step
2.2

2.2 Returns document to 5 minutes


applicant for compli-
ance. END

2.3 Computes Filing Fee 10 minutes


and issues Payment Assess-
ment Form (PAF) and ad-
vises applicant to pay pre-
scribed fee to the Cashier.
Go to Step 3

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
3 Pays the prescribed Filing Please see separate Payment Assess-
fee to the Cashier and sub- schedule of fees* ment Form
mits PAF together with the
required documents and
its attachments to receiv-
ing clerk/support staff.
4 4.1 Receives and encodes 10 minutes Support Staff
documents;

4.2 Delivers documents toAssistant 10 minutes


Director (AD) for assignment.
Go to Step 5.1

4.3 Updates records and delivers 10 minutes


documents to assigned Securi-
ties Specialist and Legal Coun-
sel. Go Step 6.

4.4 Transmits letter to the 30 minutes


Registrant. Go to Step 7.

4.5 Delivers Memo to Supervising 10 minutes


Commissioner/ Commission Sec-
retary for Agenda

4.6 Forwards records to ICTD for mi- 10 minutes


crofilming.
5 5.1 Assigns application to Specialist 10 minutes Assistant Direc-
and Legal Counsel. Return doc- tor
uments to Support Specialist. Go
to Steps 6.1 to 6.6

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 5.2 Reviews and initials the follow- 1 day Assistant Direc-
ing: tor

5.2.1 DRAFT letter/ memo/


advisement/ Order of Registra-
tion/ Permit to Sell/Notice

5.2.2 FINALletter/memo/ advise-


ment letter/ memo/advisement/
Order of Registration/ Permit to Sell/
Notice
6 If Initial Filing: Securities Spe-
cialist/ Legal
6.1 Reviews documents 7 days Counsel

6.2 Refers the Underwriting/ Man-


agement/Distribution Agree-
ment to MSRD

6.3 Refers Financial Statements to 3 days


OGA. Repeats Step 8

6.4 Refers to OTHER


GOVERNMENT AGENCIES (if appli-
cable)

6.5 Conducts Ocular Inspection (if 1 to 2 days


applicable/allowed)

6.6 Prepares and initials DRAFT/


FINAL 1st COMMENT LETTER
based on findings. Repeats Step
5.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
6 IF 1st Revision – Compliance with 2nd
COMMENT LETTER

6.7 Repeats Steps 6.1, 6.3, 6.4 and/ 3 days


or conducts meeting with the
Registrant.

6.7.1 If compliant with all the


requirements, go to Step
6.8.1.

6.7.2 If still not compliant, pre-


pares and initials DRAFT/FINAL
2nd COMMENT LETTER. Repeats
Step 5.2.

IF 2nd Revision – Compliance with


2nd COMMENT LETTER

6.8 Repeats Steps 6.1, 6.3, 6.4 and/


3 days
or conducts meeting with the
Registrant.

6.8.1 If AFS were cleared by


OGA, prepares and initials
DRAFT/FINAL MEMO. Repeat
Step 5.2

6.8.2 If still not compliant or NO


COMPLIANCE, endorses to Legal
Counsel for Hearing.

6.9 Prepares DRAFT/FINAL NOTICE


30 minutes
OF HEARING. Repeats Step 5.2.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
6 6.10 Legal Counsel holds meeting 2 hours
for REJECTION of the applica-
tion.

6.11 Prepares DRAFT/FINAL REJEC- 1 hour


TION LETTER. Repeat Step 5.2.
7 7.1 Files reply/compliance
with Comment Letter to
support staff

If reply to 1st Comment Let-


ter or 2nd Comment Let-
ter. Repeats Steps 4.1
and 4.3.

7.2 If application is de-


ferred, submits compli-
ance requirements. Re-
peats Steps 4.1 and 4.3.

7.3 If rendered effective,


submits FINAL PROSPEC-
TUS.

Repeats Steps 4.1, 4.3 and


Go to Step 11

7.4 Receives ORDER OF


REGISTRATION and PERMIT
TO SELL/REJECTION. END
8 8.1 Reviews and evaluates AFS Office of the
General Ac-
8.2 Endorses findings to assigned countant
CGFD Specialist

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
9 9.1 For DRAFT COMMENT/ Director
MEMORANDUM/ REJECTION LET-
TER/ ORDER OF REGISTRATION/
PERMIT TO SELL/NOTICE

9.1.1. Reviews and initials docu- 3 hours


ments
9.1.2. Returns document to Support 10 minutes
Staff. Go to Steps 4.3 and
6.7 or 6.8 or 6.9

9.2 For FINAL COMMENT/ ADVISE- 3 hours


MENT LETTER/NOTICE.

9.2.1. Reviews and signs docu-


ment. Repeats Step 4.4

9.3 If FINAL MEMO, reviews and 1 day


signs document. Returns docu-
ments to Support Staff. Go to
Step 4.5.

9.4 Presents to the Commission En 1 hour


Banc

9.5 Informs Specialist/Legal Counsel


of En Banc Decision. Go to Step
10.

9.6 For ORDER OF REGISTRATION


and PERMIT TO SELL

9.6.a Reviews and signs document. 10 minutes


Returns document to
Support Staff. Go to Steps 4.3 and
12.4

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
10 Upon receipt of the Commission’s 2 days Securities Spe-
action on the Memorandum: cialist

If Registration Statement is DENIED/


DEFERRED

10.1 Prepare DRAFT/FINAL ADVISE-


MENT LETTER

Repeat Steps 5.2, 9.1, 9.2 and 4.4

If Registration Statement is REN-


DERED EFFECTIVE, go to Step 7.3
11 11.1 Computes adjustment fee, if 30 minutes Securities Spe-
necessary and inform registrant cialist
of the additional fee. Go to
Steps 3 and 4.3.

11.2 If COMPLETE. Go to Step 12

11.3 If INCOMPLETE, notifies regis-


trant to comply with and submit the
requirements. Go to Step 7.3

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
12 Prepares CERTIFICATE OF PERMIT TO Securities Spe-
SELL and ORDER OF REGISTRATION cialist/ Legal
12.1 Prints draft/final copies of Cer- 10 minutes Counsel
tificate of Permit to Sell and Order
of Registration
12.2 Initials copy 5 minutes
12.3 Repeat Steps 5.2 and 9.6 10 minutes
12.4 Notifies issuer that the Permit
and Order are ready for release at
the CGFD. Go to Step 7.4
12.5 Forwards records to Support
Staff. Go to Step 4.6
END OF TRANSACTION
*The allotted processing time covers all submissions and evaluations of documents, i.e., initial and subsequent submissions per Comment Letter/s.

Filing Fee :

Maximum aggregate price of securities to be offered Amount of Filing fee


Not more than P500 Million 0.10% of the maximum aggregate price of the securities to be offered
More than P500 Million but not more than P750 Million P500,000 plus 0.075% of the excess over P500 Million
More than P750 Million but not more than P1 Billion P687,500 plus 0.05% of the excess over P750 Million
More than P1 Billion P812,500 plus 0.025% of the excess over P1 Billion

The registration/filing fee is subject to 1% legal Research Fee (but not less than Fifty Pesos) which shall be paid at the time of filing.
Securities to be registered but which are not part of the offering, shall be based on Par Value
Shelf Registration:
a) Upon filing of Registration Statement – based on value of the 1st Tranche
b) Filing fees for subsequent tranches – payable within seven (7) business days prior to commencement of the offer/sale
Registration Fee of Mutual Funds - Based on Net Asset Value per share but in no case less than par value.
Registration as Investment Company is P10,000.00 plus 1% Legal Research Fee (one-time payment)
Amended Registration Statement (any amendment except price increase is P12,000.00 plus 1% Legal Research Fee

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Application for Accreditation as Corporate Governance Institutional Training Provider

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : All Private and Public Institutional Training Provider (ITP)
What are the requirements : Application for Accreditation and required documents under SEC MC No. 11, series of 2012
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Registers with the Guard Instructs Client where to proceed 5 Minutes Guard on Duty
2 Submits documents to Spe- Issues payment assessment Form 10 Minutes Support Staff P5,050.00 PAF
cialist-in-Charge
3 Pays corresponding fee at Receives payment and issues OR Varies Cashier PAF/OR
the Cashier
4 Receives the documents 5 Minutes Support Staff
5 Assigns the application 15 Minutes Assistant Direc-
tor
6 Reviews the documents re: com- 3 days Specialist-in-
pleteness Charge
7a Drafts Memorandum and submits it 14 days -do-
to the En Banc for approval
7b Sends Comment Letter and Check- 2 days -do-
list of Requirements for compliance
8a Issues Certificate of Accreditation 1 day -do-
after en banc approves applica-
tion
8b Submits requirements to Receives requirements Varies Support Staff

9a Receives Certificate of Ac- Varies


creditation as ITP
END OF TRANSACTION

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

9b Reviews submitted requirements 2 days Specialist-in-


Charge
10 Drafts Memorandum and submits it 14 days Specialist-in-
to the En Banc for approval Charge
11 Issues Certificate of Accreditation 1 day -do-
after En Banc approves application
12 Receives Certificate of Ac- Varies
creditation as ITP
END OF TRANSACTION

Duration : Twenty-Two (22) business days upon receipt of complete documentary requirements

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Request for Approval of In-House Corporate Governance Training Provider

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : All Private and Public Institutional Training Provider (ITP)
What are the requirements :
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Registers with the Guard Instructs Client where to proceed 5 Minutes Guard on Duty
2 Submits documents to Spe- Issues payment assessment Form 10 Minutes Support Staff P2,020.00 PAF
cialist-in-Charge
3 Pays corresponding fee at Variable Cashier PAF/OR
the Cashier
4a Receives the documents 5 Minutes Support Staff
5 Assigns the application 15 Minutes Assistant Direc-
tor
6 Reviews the documents re: com- 2 days Specialist-in-
pleteness Charge
7a Drafts Memorandum and submits it 7 days Specialist-in-
to the En Banc for approval Charge
7b Sends Comment Letter and Check- 2 days Specialist-in-
list of Requirements for compliance Charge
8a Issues Advisement Letter Approving 1 day Specialist-in-
In-House Corporate Governance Charge
Training/Seminar after en banc ap-
proves application
9a Receives Advisement Let- Variable
ter Approving In-House
Corporate Governance
Training/Seminar
END OF TRANSACTION

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

8b Submits requirements to Receives requirements Variable Support Staff


Specialist-in-Charge
9b Reviews submitted requirements 2 days Specialist-in-
Charge
10 Drafts Memorandum and submits it 14 days Specialist-in-
to the En Banc for approval Charge

11 Issues Advisement Letter Approving 1 day Specialist-in-


In-House Corporate Governance Charge
Training/Seminar after en banc ap-
proves application
12 Receives Advisement Let- Variable
ter Approving In-House
Corporate Governance
Training/Seminar
END OF TRANSACTION

Duration : Twenty-Two (22) business days upon receipt of complete documentary requirements

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Request for Exemptive Relief/Confidential Treatment

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Public Companies, Issuers of Registered Unlisted Securities, Mutual Fund Companies, and , Issuers of
Proprietary and Non-Proprietary Shares, Membership Certificates, and Timeshare
What are the requirements : Request for Exemptive Relief/Confidential Treatment and required exhibits
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)

1 Registers with the Guard. Gives the Client a Number and Re- 5 minutes Guard on Duty Request Slip
Gets Number and Request quest Slip.
Slip.
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-the-
and submits it to Officer-of it to Legal Counsel Day
the-Day
3 a) Verify number of companies 30 minutes Legal Counsel P50,000.00 per issue PAF
and issues of the request and per company*
b) Issues Payment Assessment
Form (PAF)
4 Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount Imposed
ceeds to Cashier for pay-
ment
5 Forwards validated PAF Receives the validated PAF and 10 minutes Officer of the
and documents to Officer- documents. Forwards to Support Day
of-the-Day Staff
6 6.1 Receives and encodes 10 minutes Support Staff
documents;

6.2 Delivers documents to Assistant 5 minutes


Director (AD) for assignment. Go
to Step 7.1

6.3 Updates records and delivers 10 minutes


documents to assigned Legal
Counsel. Go Step 8.
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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
6 6.4 Transmits letter to the Regis- 30 minutes -do-
trant. Go to Step 7.

6.5 Delivers Memo to Supervising 10 minutes


Commissioner/ Commission
Secretary for En Banc presen-
tation. Go to Step 9.4

6.6 Forwards records to ICTD for 15 minutes


microfilming.

7 7.1 Assigns application to Legal 10 minutes Assistant Direc-


Counsel. Forwards documents tor
to Support Staff. Go to Steps
6.3

7.2 Reviews and initials the follow-


ing:
7.2.1 DRAFT letter/ memo/ 1 day
advisement. Go to Step
9.1 and 6.3

7.2.2 FINAL letter/memo/ ad- 1 day


visement letter. Go to
Step 9.3

8 8.1 Review documents 30 minutes Legal Counsel


8.1.a If the request is novel,
Prepare and initial 1 hour
DRAFT/FINAL letter di-
recting to provide addi-
tional information from
the company. Go to
Steps 7.2, 9.1/9.2, 6.4
and 6.6

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
8 8.1.b. If the request is not nov- 5 days -do-
el or the department
has received the addi-
tional information from
the applicant pursuant
to Step 8.1.a hereof,
prepare Memorandum
to the Commission en
Banc. Go to Steps 7.2,
9, and 10

8.2 Prepares and initials DRAFT/


FINAL letter of advisement. Re-
peats Steps 7.2, 9.1/9.2, 6.4 and
6.6
9 9.1 For DRAFT COMMENT/ NOTICE/ 3 hours Director
MEMORANDUM
9.1.a. Reviews and Initial
document
9.1.b. Returns document to
Specialist. Go to Step
6.3

9.2 For FINAL COMMENT/ NOTICE/ 3 hours


MEMORANDUM
9.2.a. Reviews and signs doc-
ument. Go to Step 6.3

9.3 If FINAL MEMO, review and sign 1 day


document. Go to Step 6.5.

9.4 Presents to the Commission En


Banc

9.5 Informs Legal Counsel of En 10 minutes


Banc Decision. Go to Step 12.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
10 Upon receipt of the Commission’s Legal Counsel
action on the Memorandum:

If DENIED/DEFERRED

10.1 Prepare DRAFT/FINAL ADVISE- 30 minutes


MENT LETTER. Repeats Steps
7.2, 8.2, 9.1, 9.2, 6.4 and 6.6

10.2 If RENDERED EFFECTIVE. Go to


Steps 8.3, 7.2, 9.6, 6.4 and 6.6
11 Receives Letter of Advise-
ment
END OF TRANSACTION

*SEC Memorandum Circular No. 12, Series of 2016

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Petition for Voluntary Revocation

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Mutual Fund Companies, Issuers of Registered Unlisted Securities, Issuers of Proprietary and Non-Proprietary
Shares, Membership Certificates, and Timeshare
What are the requirements : Petition for Revocation and required exhibits under SRC Rule 13
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

1 Registers with the Guard. Gives the Client a Number and Re- 5 minutes Guard on Duty N/A Request Slip
Gets Number and Request quest Slip.
Slip.
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-the-
and submits it to Officer-of it to Legal Counsel Day
the-Day
3 Issues Payment Assessment Form 10 minutes Legal Counsel P10,000 + LRF of 1% of
(PAF) Filing Fee*
4 Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount Imposed PAF/OR
ceeds to Cashier for pay-
ment
5 Forwards validated PAF Receives the validated PAF and 10 minutes Officer of the
and documents to Officer- documents. Forwards to Support Day
of-the-Day Staff
6 6.1 Receives and encodes 10 minutes Support Staff
documents;

6.2 Delivers documents to Assistant 5 minutes


Director (AD) for assignment. Go
to Step 7.1

6.3 Updates records and delivers 10 minutes


documents to assigned Legal
Counsel. Go Step 8.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
6 6.4 Transmits letter to the Regis- 30 minutes -do-
trant. Go to Step 7.

6.5 Delivers Memo to Supervising 10 minutes


Commissioner/ Commission
Secretary for En Banc presen-
tation. Go to Step 9.4

6.6 Forwards records to ICTD for 15 minutes


microfilming.
7 7.1 Assigns application to Legal 10 minutes Assistant Direc-
Counsel. Forwards documents tor
to Support Staff. Go to Step 6.3

7.2 Reviews and initials the follow-


ing:
7.2.1 DRAFT letter/ memo/
advisement/ Order of 1 day
Registration/ Permit to
Sell/Notice. Go to Step
9.1 and 6.3

7.2.2 FINAL letter/memo/ ad- 1 day


visement letter/ memo/
advisement/ Order of
Registration/ Permit to
Sell/Notice. Go to Step
9.3
8 8.1 Reviews documents, prepares 1 day Legal Counsel
and initials DRAFT/FINAL Notice
of Publication. Go to Steps 7.2,
9.1/9.2 and 6.3

8.2 Prepares and initials DRAFT/


FINAL MEMO. Repeat Step 7.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
9 9.1 For DRAFT COMMENT/ NOTICE/ 3 hours Director
MEMORANDUM/ORDER

9.1.a. Reviews and Initial doc-


ument
9.1.b. Returns document to
Specialist. Go to Step 6.6
or 6.9

9.2 For FINAL COMMENT/ NOTICE/


MEMORANDUM/ORDER

9.2.a. Reviews and signs docu- 3 hours


ment. Go to Step 6.3

9.3 If FINAL MEMO, review and sign


document. Go to Step 6.5.

9.4 Presents to the Commission En 1 day


Banc

9.5 Informs Legal Counsel of En


Banc Decision. Go to Step 12.

9.6 For ORDER OF REVOCATION 10 minutes

9.6.a Reviews and signs docu-


ment. Go to Step 6.3
10 Receives Notice of Publi-
cation and publishes in
newspaper of general cir-
culation
11 Submits Affidavit of Notice Receives affidavit and wait for 15 business days Legal Counsel
of Publication complaints, if any. Go to Step 8.2

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
12 Upon receipt of the Commission’s 30 minutes Legal Counsel
action on the Memorandum:

If DENIED/DEFERRED

12.1 Prepare DRAFT/FINAL ADVISE-


MENT LETTER. Repeats Steps
7.2, 8.2, 9.1, 9.2 and 6.4

12.2 If GRANTED. Go to Step 13

13 Prepares ORDER OF REVOCATION Legal Counsel

13.1 Prints draft/final copies of Or-


der of Revocation

13.2 Initial Copy

13.3 Repeats Steps 7.2 and Go to


Step 9.6

13.4 Notifies issuer that the Permit


and Order are ready for release at
the CGFD. Go to Step 14 and 6.6
14 Receives ORDER of Revo-
cation
END OF TRANSACTION

*SEC Memorandum Circular No. 12, Series of 2016

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Monitoring of Financing/Lending Companies/Foundations/Microfinance NGOs

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Financing Companies/Lending Companies/Foundations/Microfinance NGOs
Purposes of Request for Monitoring :
1) Good standing
2) Amendment of AI/BL
3) Application of Certificate of Authority (CA)
4) Request for Exemption-Commercial Paper (CP)
5) Complaints
What are the requirements :
1) Monitoring Slip (from the CGFD or endorsed from other departments),
2) Certificate of Incorporation,
3) Latest approved Articles of Incorporation (AI),
4) Latest approved By-Laws (BL),
5) Latest due General Information Sheet,
6) Latest Audited Financial Statements,
7) Copy of the Stock and Transfer Book Registration, and
8) Other documents/reports (per examiner/specialist’s instruction).
How to avail of the service :
1) Walk-in monitoring
2) Motu propio monitoring
3) With request for monitoring/referral from other departments

1) Walk-in Monitoring
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)

1 Registers with the Guard Gives the Client a Request Slip 30 seconds Guard on Duty Request Slip
and gets Request Slip (CGFD)
2 Accomplishes Request Slip Records Request and Forwards to 45 seconds OD Request Slip
to Officer of the day assigned Staff
* (1) Volume of walk-in client without complaint but with application for clearance for amendment of Articles of Incorporation/ By-Laws, and Certificate of No Derogatory Information; (2) Volume of Walk-in Client with com-
plaint; (3) Volume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of re gistration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Re-
trieval and viewing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
3 Waits for the Result of the Evaluates Request 5 minutes* Processor** Amount imposed (for Request Slip
Request: financing and lend-
For Clearance ing companies only)
3.A. Check compliance of the cor-
poration
3.A.1. If compliant without 3.A.1.a) Prepares/Updates Processor** Monitoring Sheet
fines, wait for up- Monitoring Sheet (MS) 15 minutes* Review/
dating of CIS/URDB 3.A.1.b) Review MS 10 minutes* Supervising Spe-
or signed MS/COP/ 3.A.1.c) Signs MS/No Penalty 5 minutes* cialist, Assistant
NP. (NP) Director, Direc-
3.A.1.d) Updates CIS/URDB. tor
Issues signed MS/NP, 2 minutes*
upon request.
END OF TRANSACTION
3.A.2. If compliant with 3.A.2.a) Prepares/Updates Mo- Waiting period Accountant
fines, wait for up- nitoring Sheet (MS)
dating of CIS/URDB 3.A.2.b) Review MS
or issuance of 3.A.2.c) Go to Steps 4 to 6.
signed MS/COP/ 3.A.2.d) Signs MS/Confirmation
OPP. of Payment( COP)
3.A.2.e) Updates CIS/URDB. Is-
sues signed MS/COP,
upon request.
3.A.2.f) Prepares Order on Pay-
ment of Penalty (OPP)
3.A.2.g) Signs OPP.
END OF TRANSACTION
3.A.3. If not compliant, If not compliant, provide client with within 15 days. Monitoring Sheet
wait for issuance of MS with Notice of Deficiency. For Notice of Deficien-
MS with Notice of compliance within 15 days cy
Deficiency.
Upon compliance, go to Steps 3.A. Waiting period

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
4 Generates and Issues Payment As- 2 minutes Accountant Assessment/ Pay-
sessment Form (PAF) of fees and Examiner ment Assessment
assessed penalties and advises the Specialist Form
client to pay at the Cashier Reprimand Letter

5 Pays at the Cashier Receives payment and issues OR Varies OR OR

6 Presents PAF and OR After payment, go to Steps 3.A.2.d

* (1) Volume of walk-in client without complaint but with application for clearance for amendment of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3) Vol-
ume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and view-
ing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION

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2) Motu Propio Monitoring

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

1 Monitors deadline on the submis- Minimum of 30 minutes Processor** Monitoring Sheet


sion of reportorial and other compli- with maximum time Review/
ance requirements thru SEC i-View/i depending on the fol- Supervising Spe-
-Report. lowing constraints/ var- cialist, Assistant
iables.* Director, Direc-
tor
2 Determines company’s compli- Processor**
ance with the SEC reportorial and Review/
other compliance requirements Supervising Spe-
thru SEC i-View/i-Report and rec- cialist, Assistant
ords of the Department. Director, Direc-
If Compliant: Go to Step 3. tor
If not Compliant: Go to Step 4 to
20.
3 Evaluates/reviews compliance of Processor**
the reports with the disclosure and Review/
other requirements under the Rules, Supervising Spe-
Regulations and Circulars of the cialist, Assistant
Commission. Director, Direc-
If Compliant: Update CIS/URBD. tor
Issue signed Monitoring Sheet
(MS)/No Penalty (NOP). END
If not Compliant: Go to Step 4 to
20.
4 Prepares and transmits show cause Processor** Show Cause Letter
letter (SCL). Chief Counsel/
Assistant Direc-
Note: SCL includes directive to the tor/ Director
company to submit specific reports
that it failed to file and/or clarify/
amend reports submitted earlier

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

5 Monitors reply of the company on Processor** Letter Reply


SCL.
If With Reply: Go to Step 6.
If Without Reply: Go to Step 8 to
20.

Notes:
Compliance with the SCL is within
15-days from the date of receipt by
the company of said letter subject
to extension upon submission of
meritorious request.
6 Evaluates/validates reasons or justi- Processor**
fications of the company on: (a)
non-filing or late filing of reports, or
non-compliance with the disclosure
requirements, or (b) non-
compliance with the other require-
ments.

If Meritorious: Go to Step 7.
If not Meritorious: Go to Step 10
to 20.
7 Prepares and transmits Advise- Processor** Advisement/ Ac-
ment/Acknowledgment Letter Chief Counsel/ knowledgment Let-
(AdL) to inform the company that Assistant Direc- ter
its justifications are meritorious. Up- tor/ Director
dates Records and File. END

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

8 Prepares and transmits Notice of Processor** Notice of Deficien-


Deficiency (NOD) to all directors. Chief Counsel/ cy
Note: Compliance with the NOD is Assistant Direc-
within 15-days from the date of re- tor/ Director
ceipt by the company of said letter
subject to extension upon submis-
sion of meritorious request.
9 Monitors reply of the company on Processor**
NOD.
If With Reply: Go to Step 6 to 7.
If Without Reply: Go to Step 10
to 20.

10 Prepares and transmits Reprimand/ Processor** Reprimand Assess-


Assessment Letter (RAL). Chief Counsel/ ment Letter
Assistant Direc-
tor/ Director
11 Monitors payment of assessed pen- Processor** Order of Payment
alty.
If with payment: Go to Step 12
If without payment: Go to Step
14 to 20.
Notes:
If with request for reduction, deter-
mines if the company meets the
criteria for reduction of penalties
prescribed under Office Order ap-
proved by the Commission. Pre-
pares memo to the Commission En
Banc (CEB) recommending ap-
proval or denial of request for re-
duction of penalties. Informs the
company of the resolution of its re-
quest by the CEB thru AdL.
** Accountant, Examiner, Specialist, or Support Clerk

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

12 Prepares and issues Payment Assess- Processor** Assessed Fees/Penalties Payment of Assess-
ment Form (PAF), and instructs the ment Form
company’s representative to pay at
the Cashier.
13 Secures validated/paid PAF and Offi- Processor** Order on Payment of
cial Receipt (OR) from company’s rep- Chief Counsel/ Penalty (OPP)
resentative and signs MS/COP. Assistant Director/
Updates CIS/URDB. Issue signed MS/ Director
COP, upon request.
Prepares and transmits Order on Pay-
ment of Penalty (OPP). END
14 Prepares and transmits Notice of Defi- Processor** Notice of Deficiency
ciency (ND) to responsible officers. Chief Counsel/
Assistant Director/
If with Reply: Go to Step 12. Director
If without Reply: Go to Step 10.
15 Prepares and transmits Notice of Hear- Legal Officer/
ing (NH), if warranted. Support Staff/ As-
sistant Director/
Director
16 Conducts hearing. Legal Officer
If Compliant: Go to Step 12.
If not Compliant: Go to Step 16.

Notes:
The hearing usually results in the
company undertaking to comply
with the requirements and/or to
pay the penalty.

If compliant with undertaking, do


Steps 12 to 13.
If not compliant with undertaking,
do Steps 16 to 20.
** Accountant, Examiner, Specialist, or Support Clerk

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
17 Conducts ocular inspection to de- Processor**
termine if the company is operating
18 Prepares audit report on the status Processor**
of company’s operation.
19 Prepares memo to CEB recom- Legal Officer/
mending suspension or revocation Support Staff/
of the company’s secondary li- Assistant Direc-
cense. tor/ Director
20 Prepares and transmits Order of Sus- Legal Officer/ Order of Suspension
pension/ Revocation (OSR) of sec- Support Staff/
ondary license. Assistant Direc-
tor/ Director
21 Prepares and endorses memo to Processor**
Enforcement and Investor Protec- Assistant Direc-
tion Department (EIPD) for further tor/ Director
investigation.
22 Updates Records and File. END Processor**
* (1) Volume of walk-in client without complaint but with application for clearance for amendment nt of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3)
Volume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and
viewing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION
** Accountant, Examiner, Specialist, or Support Clerk

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3) With Request for Monitoring/Referral from other Departments/Divisions

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

1 Receives memorandum with re- Minimum of 30 minutes Security Guard/ Request Slip
quest for monitoring/referral from with maximum time Processor**
other departments/division. depending on the fol-
lowing constraints/ var-
iables.*
2 Determines company’s compli- Processor** Monitoring Sheet
ance with the SEC reportorial and Review/
other compliance requirements Supervising Spe-
thru SEC i-View/i-Report and rec- cialist, Assistant
ords of the Department. Director, Direc-
If Compliant: Go to Step 3. tor
If not Compliant: Go to Step 5 to
24
3 Evaluates/reviews compliance of Processor**
the reports with the disclosures and Review/
other requirements under the Rules, Supervising Spe-
Regulations and Circulars of the cialist, Assistant
Commission. Director, Direc-
If Compliant: Go to Step 4 tor
If not Compliant: Go to Step 5 to
24.
4 Prepares reply memorandum. Up- Processor** Reply Memoran-
dates Records and File. END Chief Counsel/ dum
Assistant Direc-
tor/ Director
5 Prepares and transmits show cause Processor** Show Cause Letter
letter (SCL). Chief Counsel/
Assistant Direc-
Note: SCL includes directive to the tor/ Director
company to submit specific reports
that it failed to file and/or clarify/
amend reports submitted earlier

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

6 Monitors reply of the company on Processor** Letter Reply


SCL.
If With Reply: Go to Step 7.
If Without Reply: Go to Step 10
to 20.

Notes:
Compliance with the SCL is within
15-days from the date of receipt by
the company of said letter subject
to extension upon submission of
meritorious request.
7 Evaluates/validates reasons or justi- Processor**
fications of the company on: (a)
non-filing or late filing of reports, or
non-compliance with the disclosure
requirements, or (b) non-
compliance with the other require-
ments.
If Meritorious: Go to Step 8.
If not Meritorious: Go to Step 12
to 24
8 Prepares and transmits Advise- Processor** Advisement/ Ac-
ment/Acknowledgment Letter Assistant Direc- knowledgment
(AdL) to inform the company that tor Letter
its justifications are meritorious.
9 Prepares reply memorandum. Up- Processor** Reply Memoran-
dates Records and File. END. Chief Counsel/ dum
Assistant Direc-
tor/ Director

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

10 Prepares and transmits Notice of Processor** Notice of Deficien-


Deficiency (NOD) to all directors. Chief Counsel/ cy
Note: Compliance with the NOD is Assistant Direc-
within 15-days from the date of re- tor/ Director
ceipt by the company of said letter
subject to extension upon submis-
sion of meritorious request.
11 Monitors reply of the company on Processor** Reply on NOD
NOD.
If With Reply: Go to Step 7 to 9.
If Without Reply: Go to Step 12
to 24.
12 Prepares and transmits Reprimand/ Processor** Reprimand/ Assess-
Assessment Letter (RAL). Chief Counsel/ ment Letter
Assistant Direc-
tor/ Director
13 Monitors payment of assessed pen- Processor**
alty.
If with payment: Go to Step 14
If without payment: Go to Step
18 to 20.
Notes:
If with request for reduction, deter-
mine if the company meets the cri-
teria for reduction of penalties pre-
scribed under Officer Order ap-
proved by the Commission. Prepare
memo to the Commission En Banc
(CEB) recommending approval or
denial of request for reduction of
penalties. Inform the company of
the resolution of its request by the
CEB thru AdL.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

14 Prepares and issues Payment As- Processor** Assessed Fees/ Payment Assess-
sessment Form (PAF), and instructs Penalties ment Form
the company’s representative to
pay at the Cashier
15 Secures validated/paid PAF and Processor** Order of Payment
Official Receipt (OR) from compa- Chief Counsel/ of Penalty (OPP)
ny’s representative and signs MS/ Assistant Direc-
COP. tor/ Director
Updates CIS/URDB. Issue signed MS/
COP, upon request.
Prepares and transmits Order on
Payment of Penalty (OPP). END
16 Prepares reply memorandum. Up- Processor** Reply Memoran-
dates CIS/URDB. Issue signed MS/ Chief Counsel/ dum
COP, upon request. END Assistant Direc-
tor/ Director
17 Prepares and transmits Notice of Legal Officer/ Notice of Hearing
Hearing (NH), if warranted. Support Staff/
Assistant Direc-
tor/ Director
18 Conducts hearing. Legal Officer
If Compliant: Go to Step 14.
If not Compliant: Go to Step 19.

Notes:
The hearing usually results in the
company undertaking to comply
with the requirements and/or to
pay the penalty.

If compliant with undertaking,


do Steps 14 to 16.
If not compliant with undertak-
ing, do Steps 19 to 24.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

19 Conducts ocular inspection to de- Processor**

20 Prepares audit report on the status Processor**

21 Prepares memo to CEB recom- Legal Officer/


mending suspension or revocation Support Staff/
of the company’s secondary li- Assistant Direc-
cense. tor/ Director
22 Prepares and transmits Order of Sus- Legal Officer/ Order of Suspen-
pension/ Revocation (OSR) of sec- Support Staff/ sion/Revocation
ondary license. Assistant Direc- (OSR)
tor/ Director
23 Prepares and endorses memo to Legal Officer/
Enforcement and Investor Protec- Accountant/
tion Department (EIPD) for further Examiner
investigation secondary license.
Specialist/ Sup-
port Staff/ Assis-
tant Director/
Director
24 Updates Records and file. END Processor**
* (1) Volume of walk-in client without complaint but with application for clearance for amendment nt of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3)
Volume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and
viewing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION

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Monitoring of Mutual Fund Companies (MFC), Exchange Traded Funds (ETF), Public Companies
(PC), Issuers of Registered Unlisted Securities, and Issuers of Proprietary and Non-Proprietary
Shares, Membership Certificates, and Timeshares

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Mutual Fund Companies, ETF Companies, Public Companies, Issuers of Registered Unlisted Securities, and Issuers
of Proprietary and Non-Proprietary Shares, Membership Certificates and Timeshares
What are the requirements : Information Statement (SEC Form 20-IS)
How to avail of the service :

MONITORING IN RELATION TO AN APPLICATION FOR AMENDMENT OF ARTICLES OF INCORPORATION AND/OR BY-LAWS, GOOD STANDING AND CLEARANCE

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)

1 Registers with the Guard. Gives the Client a Number and Re- 5 minutes Guard on Duty N/A Request Slip
Gets Number and Request quest Slip.
Slip.
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-the-Day
and submits it to Officer-of it to Specialist in-Charge
the-Day
3 Monitors company’s compliance
with reportorial requirements thru
monitoring index and SEC i-Report
and other relevant source.
a) If compliant: Prepares routing
slip/endorsement to the CRMD/
other concerned SEC depart-
ments
b) If NOT compliant: Prepares rout-
ing slip indicating the deficien-
cies of the monitored company
Forwards draft/final routing slip/ en-
dorsement memorandum to Assis-
tant Director and Director.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 Reviews and initials draft/ final rout- 15 minutes Assistant Director/ N/A
ing slip/ endorsement memoran- Director
dum

5 a) If compliant and not subject to 15 minutes Specialist-in-Charge


penalty: Issues clearance. END
OF TRANSACTION.
b) If compliant and subject to
penalty: Issues Payment Assess-
ment Form (PAF), in cases
where the client has been pre-
viously monitored and has been
assessed penalty/ies.
6 Receives the clearance

7 Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount im- PAF/OR
ceeds to Cashier for pay- posed
ment
8 Forwards validated PAF Receives the validated PAF and 15 minutes Specialist-in-Charge
and official receipt to Spe- draft/final routing slip/endorsement
cialist-in-charge memorandum to Assistant Director
and Director
Advices the Client that the Order
on Payment will be sent to the prin-
cipal officer address via mail

9 Reviews and initials draft/ final rout- 15 minutes Assistant Director/


ing slip/ endorsement memoran- Director
dum
10 Receives the clearance
END OF TRANSACTION

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PAYMENT OF FEES/ASSESSED PENALTIES

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Registers with the Guard. Gives the Client a Number and Re- 5 minutes Guard on Duty N/A Request Slip
Gets Number and Request quest Slip.
Slip.
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-the- Information State-
and submits documents to documents to Specialist in-Charge Day ment
Officer-of the-Day (SEC Form 20-IS)
3 Evaluates documents 15 minutes Specialist-in-
Charge
4 Issues Payment Assessment Form 10 minutes Specialist-in- Payment of fees: PAF
(PAF) Charge Information State-
ment and/or Solicita-
tion of Votes by the
Registrant: P7,500 plus
1% Legal Research
Fee (All subsequent or
amended Infor-
mation Statement
shall be subject to a
fee of P5,000 plus 1%
Legal Research Fee)

Solicitation of Votes
Other than by the
Registrant:
P5,000 plus 1% Legal
Research Fee*

Payment of assessed
fees: Variable
(Depends on the vio-
lations committed)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount Imposed PAF/OR
ceeds to Cashier for pay-
ment
6 Forwards validated PAF Receives the validated PAF and 10 minutes Specialist-in-
and official receipt to Spe- instructs the Client that the Order Charge
cialist-in-charge on Payment will be sent to the prin-
cipal office address via mail
END OF TRANSACTION

Duration : Request referring to payment of fees/penalties: 30 minutes to 1 hour (depending on causes beyond the control of the
division, such as the accessibility and performance of SEC i-Report e-payment and volume of clients at the Cashier)

Request referring to monitoring in relation to an application for Amendment of Articles of Incorporation and/or By-laws:
*If compliant– 1 to 2 hours
*If not compliant– Walk-in clients are provided with “Routing Slip” indicating the deficiencies of the monitored
companies for their compliance.

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Monitoring Application for Amendment of Articles of Incorporation and/or By-Laws, Good Standing
and Clearance of PLCs, MFCs, ETFs, PCs, Issuers of Proprietary and Non-Proprietary Shares/
Membership Certificates/Timeshares*

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Publicly Listed Companies, Mutual Fund Companies, Exchange Traded Funds, Public Companies and Issuers of
Membership Certificates and Timeshares
What are the requirements :
How to avail of the service :

REQUEST FOR CLEARANCE


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Registers with the Guard. Gives the Client Number and re- 5 minutes Guard-on-duty n/a Request Slip
Gets Number and Request quest slip
Slip
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-Day
and submits it to the Of- it to Specialist in-Charge
ficer-of-the-day
3 Checks the CIS and moni- 30 minutes to 1 hour Specialist
toring index and SEC
i-Report to determine the
company’s status and in-
form the client of the defi-
ciency/ies.
Advises the client, through
the Officer-of-the-day, to
first comply with the re-
quirements whether to sub-
mit a report/s or pay the
assessed penalty before it
could give or issue clear-
ance.
*1. All applications for monitoring/clearance and good standing will be lodge at the Company Monitoring Division (CMD) of CRMD except those applications to change the name, and purpose of the corporation. CMD will access the Certification Issuance System
(CIS) to determine the status of a corporation.
2. If the application is to change the name, and purpose of the corporation and/or the CMD found any deficiencies in the CIS, the company representative will go to CGFD;

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
4 Submits reports and/or pays any Notes:
assessed penalties 1. Reports should be
filed at the SEC’s
Central Receiving;
2. Please follow the
processes in the
payment of fees
and penalties
5 Checks the company’s 30 minutes Specialist
submission through the
SEC i-report and evalu-
ates contents thereof.
(The specialist may
asks an advance copy
if the same is still not
viewable online)
If the company pays 10 minutes
the penalty, issues Pay-
ment Assessment Form
Updates the CIS by
removing corporation
from the “deficient” to 5 minutes
“cleared” status and
advise the client to
proceed to CMD. End
of Transaction.
END OF TRANSACTION

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Request for Comment on the Articles of Incorporation and/or By-Laws*

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Publicly Listed Companies, Mutual Fund Companies, Exchange Traded Funds, Public Companies and Issuers of
Membership Certificates and Timeshares or other companies endorsed by CRMD
What are the requirements :
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Registers with the Guard. Gives the Client Number and re- 5 minutes Guard-on-duty n/a Request Slip
Gets Number and Request quest slip
Slip
2 Accomplishes Request Slip Receives Request Slip and forwards 5 minutes Officer-of-Day
and submits it to the Of- it to Specialist in-Charge
ficer-of-the-day
3 Receives Request Slip and the pro- 5 minutes Officer-of-Day
posed Articles of Incorporation and
By-Laws with endorsement from the
CRMD and forwards it to Assistant
Director for assignment
4 Assigns to a Securities specialist or 5 minutes Assistant Direc-
Securities Counsel tor
5 Reviews copies of proposed Articles 1 hour Securities Spe-
of Incorporation and/or By-Laws cialist/ Securities
and prepares draft/ final endorse- Counsel
ment/Memorandum to CRMD.
6 Reviews and initials the draft/final 1 hour Assistant Direc-
endorsement tor and Director
7 Receives the endorsement Gives a copy of the endorsement 10 minutes Officer-of –the
and returns the proposed Articles of Day
Incorporation and/or By-Laws. Ad-
vise the client to go back to CRMD.
*If the company will incorporate as Mutual Fund Company

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Monitoring of Compliance with Corporate Governance Regulations of Publicly Listed Companies,


MFCs, ETFs, PCs, and Issuers of Membership Certificates and Timeshares

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Publicly Listed Companies, Mutual Funds, Exchange Traded Funds, Public Companies and Issuers of
Membership Certificates and Timeshares
What are the requirements :
How to avail of the service :

REQUEST FOR CLEARANCE


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Registers with the Guard Instructs Client where to proceed 5 Minutes Guard on Duty

2 Submits documents to Spe- Receives the documents 5 Minutes Specialist-in-


cialist-in-Charge Charge
3 Reviews the documents submitted 30 Minutes -do-
4a Issues clearance 5 Minutes -do-
4b Issues Payment Assessment Form 10 Minutes -do-
(PAF), in cases where the client has
been previously monitored and has
been assessed penalty/ies.
5a Receives the clearance
END OF TRANSACTION
5b Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount Imposed PAF /OR
ceeds to Cashier for pay-
ment
6 Forwards validated PAF Receives the validated PAF and 10 Minutes Specialist-in-
and official receipt Spe- issues clearance Charge
cialist-in-charge
END OF TRANSACTION

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PAYMENT OF PENALTIES

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

1 Registers with the Guard Instructs Client where to proceed 5 Minutes Guard on Duty
2 Submits documents to Spe- Receives the documents 5 Minutes Specialist-in-
cialist-in-Charge Charge
3 Reviews the documents submitted 30 Minutes -do-

4 Issues Payment Assessment Form 10 Minutes -do- PAF


(PAF)
5 Receives the PAF and pro- Receives payment and issues OR Varies Cashier Amount Imposed PAF/OR
ceeds to Cashier for pay-
ment
6 Forwards validated PAF Receives the validated PAF and 10 Minutes Specialist-in-
and official receipt to Spe- instructs the Client that the Order Charge
cialist-in-charge on Payment will be sent to the prin-
cipal officer address via mail
7 Receives Order on Pay- Prepares Order on Payment of Pen- 30 minutes -do-
ment of Penalty alty
8 Sends signed Order on Payment of Varies Support Staff
Penalty via registered mail
END OF TRANSACTION

Duration : Request referring to Clearances- 1 Hour and 5 minutes (depending on causes beyond the control of the division, such as completeness
of the documents presented by the client, accessibility and performance of the SEC i-Report, e-payment and volume of clients at the
Cashier)
Request referring to payment of fees/penalty- 1 Hour (depending on causes beyond the control of the division, such as completeness
of the documents presented by the client, accessibility and performance of the SEC i-Report, e-payment and volume of clients at the
Cashier)

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Handling of Complaints Filed Against Covered Institutions

Schedule of availability of service : Monday to Friday, 7:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Any Person Complaining against Public Companies, Mutual Fund Companies, Financing Companies,
Lending Companies, Micro-Finance Companies, Resorts, Clubs, Timeshare Issuers and Foundation
What are the requirements : Complaint Letter/Form and Supporting documents and any additional documents that the Commission
may require
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Registers with the Guard Gives the Client a Request Slip 5 minutes Guard on Duty Request Slip
and get Request Slip
2 Accomplishes Request Slip Records request and forwards to 5 minutes* Clerk Request Slip
and submits to Support assigned Staff
Staff
3 With Complaint letter With Complaint Letter 5 minutes Processor** Complaint Letter
with relevant/ sup-
a) Submits together with a) Receives and photocopies sup- porting documents
supporting documents porting documents and
and b) Gives complainant’s copy and
b) Get s receiving copy of advise complainant to wait for
Complaint Letter/Form company’s reply

Without complaint letter Without complaint letter 10 minutes Complaint Form


with relevant/
a) Gets Complaint Form a) Gives Complaint Form supporting docu-
b) Accomplishes Com- b) Waits for accomplished com- ments
plaint Form plaint form. Assist complainant,
c) Submits together with if needed
supporting documents, c) Receives complaint form and
and photocopy supporting docu-
d) Gets received copy of ments, and
Complaint Letter/Form d) Gives complainant’s copy and
advises complainant to wait for
company’s reply
** Accountant, Examiner, Specialist, or Support Clerk

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
4 Waits for Answer/ Com- Evaluates complaint if within the Accountant II Complaint Letter/
ment from the company or jurisdiction of the department Examiner II Form
the Commission Examiner I
Within the CGFD’s jurisdiction 15 minutes* Specialist II
a) Prepares and issues advisement Specialist I Advisement Letter
letter to the company to answer Records Spe-
complaint cialist
b) Monitors answer of the compa- Clerk
ny Monitoring Ana-
With answer, waits for reply/ lyst
comment of complainant to
the answer of the company Examiner II
then proceed to step c Specialist II
Without answer, resolve the com-
plaint or proceeds to step 5
c) Monitors reply of complainant Director
With reply, resolves the complaint Assistant Direc-
or proceeds to step 5 tor
Without reply, resolves the com- Division Head
plaint or proceed to step 5.

Outside CGFD’s jurisdiction Within 5 days* `


a) Indorses to the proper depart-
ment of the Commission or oth-
er government office/agency
that has jurisdiction over the
complaint and/or advises com-
plainant of lack of jurisdiction of
SEC. END OF TRANSACTION

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 Attends Scheduled Hear- a) Prepares and Issues Notice of 15 minutes* Processor**
ing Hearing Chief Counsel,
b) Conducts Hearing/Mediation 30 minutes* Counsel III
c) Prepares Minutes, resolution of 10 minutes* Asst. Director,
complaint to be included in the Director
minutes or proceed to step d
d) Issues a written resolution of the 30 days*
case.
END OF TRANSACTION

*Depending on circumstances beyond the control of the Division, such as the volume of walk-in clients handled and nature of complaint
** Accountant, Examiner, Specialist or Support Clerk

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Company Registration and Monitoring Department


1) Registers domestic corporations and partnerships;
2) Processes applications for amendment of articles of incorporation/articles of partnership, by-laws, mergers, and other corporate reorgani-
zations that require the prior approval of the Commission;
3) Licenses foreign corporations doing business in the Philippines and multinational companies;
4) Licenses lending, financial companies, and capital market participants;
5) Monitors compliance by registered domestic/licensed foreign corporations with their reportorial responsibilities under the Corporation Code
and other existing laws;
6) Maintains custody over registration documents and documents that it has acted upon or directly filed with it;
7) Verifies and reserves proposed company names and issues certification on corporate filings and information;
8) Revokes certificates of incorporation/license to do business for non-compliance with reportorial requirements and other pertinent laws im-
plemented by the Commission;
9) Attends court hearings and processes as witness and as resource person in inter-agency meetings and provides corporate records to other
government agencies;
10) Hears/decides administrative cases within the Department jurisdiction;
11) Acts on Petition for Change of Corporate Name;
12) Undertakes special studies on corporate problems relating to registration and monitoring of corporations submitted to the Commission by
the public and government agencies and instrumentalities and develops, recommends policies on registration and monitoring of corpora-
tions and licensed foreign corporations;
13) Attends to public queries; and
14) Performs such other functions as may be directed by the Chair and Commissioners.

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LIST OF FRONTLINE SERVICES:

PUBLIC ASSISTANCE CENTER (Under the Office of the Director)

1) Walk-in Query, Complaint, etc.

SATELLITE OFFICE:
1) Name Verification Services
2) Processing of Applications for Primary Registration of Stock and Non-Stock Corporations
3) Processing of Applications for Partnerships
4) Processing of Applications for Amendment of Stock and Non-Stock Domestic Corporations
5) Processing of Applications for Amendment of Partnerships
6) Processing of Applications for Increase/Decrease of Authorized Capital Stock, Reclassification/Conversion/Change of Par Value of Shares
7) Processing of Conversion of Branch Office to Representative Office (Vice Versa), Regional Area Headquarters (RHQ) to Regional Operating
Headquarters (ROHQ) (Vice Versa), Change/Substitution of Resident Agent, Withdrawal of License and Other Amendments of Foreign Cor-
porations
8) Processing of Applications of Foreign Corporations

GREENLANE UNIT:
1) Registration of Stock and Non-Stock, Non-Profit Corporations and Partnerships

CORPORATE AND PARTNERSHIP REGISTRATION DIVISION (CPRD):


1) Application for Amendment of Stock and Non-Stock Domestic Corporations
2) Application for Amendment of Partnerships
3) Conversion of Branch Office to Representative Office (Vice Versa), Regional Area Headquarters (RHQ) to Regional Operating Headquar-
ters (ROHQ) (Vice Versa), Change/Substitution of Resident Agent, Withdrawal of License and Other Amendments of Foreign Corporations
4) Applications of Foreign Corporations
5) Processing Services for Voting Trust Agreements
6) Actions (Two [2] Party Complaints/Petitions)
7) Petitions for Correction

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LIST OF FRONTLINE SERVICES:

LICENSING UNIT:
1) Application for Licensing of Financing Companies
2) Application for Licensing of Lending Companies
3) Application for Registration of Capital Market Institutions
4) Application for Registration of Capital Market Professionals

COMPLIANCE MONITORING DIVISION (CMD):


1) Request for Regular Monitoring of:
 Domestic Corporations (Ordinary Stock and Non-stock)
 Foreign Corporations (Branch Offices, Representative Offices, Regional Area Headquarters and Regional Operating Headquarters)
2) Process Compliance with Securities Deposit
3) Petition to Lift Order of Revocation/Suspension
4) Request for Payment in Installment or Reduction of Fines
5) Monitoring of Corporations where there is more than one set of General Information Sheet (GIS) filed with the Commission
6) Compliance with SEC Memorandum Circular No. 14, series of 2013 (Guidelines Covering the Use of Properties that Require Ownership Regis-
tration as Paid-Up Capital)
7) Petition for Cancellation or Substitution of Payment in relation to the use of properties that require Ownership Registration as Paid-Up Capi-
tal (SEC Memorandum Circular No. 14, series of 2013)

CORPORATE FILING AND RECORDS DIVISION (CFRD)


1) Name Verification Services
2) Issuance of Certificates of No Derogatory Records/Affirmative/Negative
3) Registration of Stock and Transfer/Membership Book
4) Receiving of Applications for New Registration (Domestic/Foreign)/Articles of Partnership
5) Receiving of Applications for Amendment of Articles of Incorporation/By-Laws/Articles of Partnership/Articles of Merger and Consolidation
6) Releasing of Approved Primary Registration/Amendments/Articles of Merger and Consolidation
7) Data Entry of Applications for Amendment/Articles of Merger and Consolidation and Retrieval of Records
8) Issuance of Authenticated Copies for Government Agencies

FINANCIAL ANALYSIS AND AUDIT DIVISION (FAAD):


1) Amendment of Article VII of Articles of Incorporation and Other Applications (Confirmation of Valuation or Exempt Transaction [Other Than
Cash Payment on Subscription], Property Dividend Declaration, Quasi-Reorganization, Equity Restructuring, Creation of Additional Paid-in
Capital, and Dissolution of Domestic Corporation)
2) Merger/Consolidation
3) Cash or Stock Dividend Declaration
4) Certification of Capital Structure/Percentage of Ownership

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Public Assistance Center (Walk-in Query, Complaint, etc.)


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break); Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements : None
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Proceeds to the Public As- Calls client on a first come, SEC Complaints Spe- None
sistance Office first served basis cialist

2 a) Presents concern/s, a) Renders advice depend- Variable, depending on the SEC Complaints Spe-
query or complaint; or ing on the kind of concern kind or complexity of the con- cialist
or query; or cern or query
b) Gives the appropriate Checklist of require-
checklist of requirements, ments or guidelines on
SEC applications under
guidelines and sample the jurisdiction of vari-
forms; or ous SEC Operating
Departments.
Pro-forma samples of
applications, affidavits,
certificates and forms
required for various
transactions to be filed
with the SEC.

c) Refers to the appropriate Referral slip to the


division or unit of the CRMD appropriate CRMD
or another SEC Department division/unit or SEC
Department
b) Presents written com- Endorses written complaint Written complaint
plaint to the appropriate CRMD received by CRMD
division/unit or another SEC division/unit or
Department concerned SEC De-
partment, for ap-
propriate action
END OF TRANSACTION

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Satellite Office: Name Verification Services


Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Applicant corporations and partnerships thru their representatives
What are the requirements : Name Verification Form
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Fills up Name Verification Inputs proposed company 5 minutes per company name Satellite Office None Name Verification
Form and submits it to the name in the system Support Staff / Verifi- Form
verification officer together cation Officer
with the request form with
money stamp
2 If proposed name is allowed -do- P100 Confirmation Reser-
by the system, the reserva- (reservation vation Notice
tion and confirmation notice for 30 days)
is printed and given to the
applicant;

In case the proposed com-


pany name is disallowed,
the verification officer veri-
fies the other preferences of
the applicant. (maximum of
three (3) proposed names
per number)
END OF TRANSACTION

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Satellite Office: Processing of Applications for Primary Registration of Stock and Non-Stock
Corporations
Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Applicant corporations thru their representatives
What are the requirements :
1) Cover Sheet
2) Reservation Payment Confirmation
3) Articles of Incorporation (AI)
4) By-laws (BL)
5) Treasurer’s Affidavit (for stock)
6) Joint Undertaking to Change Name
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Verifies or reserves pro- If proposed name is allowed 10 minutes Satellite Office P40.00- reservation for 30 Confirmation Reser-
posed name by the system, the reserva- Name Verifica- days; vation Notice
tion and confirmation notice tion Officer P80.00 – reservation for 60
is printed and given to the days;
applicant. 120.00 – reservation for 90
days

2 Presents Articles of Incor- Checks the documents pre- 10-20 minutes Satellite Office Filing fee for stock corporation Payment Assess-
poration and By-Laws at sented. If complete, pre- Securities Spe- (with par value): 1/5 of 1% of ment Form
the SEC Satellite Office pares Payment Assessment cialist the authorized capital stock
Form (PAF) then advises the but not less than P2,000.00
registrant to pay the filing plus 1% Legal Research Fee
fee. If not, advises applicant (LRF);
to comply with the require-
Stock corporation (with no par
ments.
value): 1/5 of 1% of the au-
thorized capital stock com-
puted at P100.00 per share or
the subscription capital stock
whichever is higher but not
less than P2,000.00 plus 1%
Legal Research Fee (LRF);

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
Registration fee for By-Laws
of stock corporation is
P1,000.00 plus 1% Legal Re-
search Fee (LRF)

Registration fee for Articles


of Incorporation and By-
Laws of a non-stock corpo-
ration is P2,100.00
3 Pays filing fee thru cashier’s After receipt of application, 5 minutes CPRD staff Generated Certifi-
or manager’s check at SEC Satellite office staff gener- cate of Incorpora-
Cashier or designated ates the Certificate of Incor- tion and By-laws
banking institutions i.e. poration bearing applicant’s from the i-register
LandBank, or other pay- SEC Registration No. and system
ment facilities corporate Tax Identification
No.
4 Physical transfer of the Cer- Within 8 working hours
tificate of Incorporation to-
gether all the documentary
requirements to the CRMD
Director

5 CRMD Director reviews and CRMD Director


approves the application

6 Presents Official Receipt to Sorts articles of incorporation 5 minutes Satellite Office None Signed
the SEC Satellite Office to and by-laws with certificate Support Staff/ Certificate of Incor-
get the Certificate of Incor- of incorporation for release CPRD Staff poration and By-
poration to applicant Laws
END OF TRANSACTION

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Satellite Office: Processing of Applications for Partnership


Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Applicant partnerships thru their representatives
What are the requirements :
1) Cover Sheet
2) Reservation Payment Confirmation
3) Articles of Partnership (AP)
4) Joint Undertaking to Change Name
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Verifies or reserves pro- If proposed name is allowed 10 minutes Satellite Office P100 (reservation for 30 Confirmation Reser-
posed name by the system, the reserva- Name Verifica- days) vation Notice
tion and confirmation notice tion Officer
is printed and given to the
applicant
2 Presents Articles of Partner- Checks the documents pre- 10-15 minutes Satellite Office PAF
ship at the SEC Satellite sented. If complete, pre- Securities Spe-
Office pares PAF, then advises the cialist
registrant to pay the filing
fee. If not, advises applicant
to comply with require-
ments .
3 Pays filing fee thru cashier’s Accepts Payment Assess- 5 minutes/activity SEC Cashier/ Filing fee: 1/5 of 1% of the Official Receipt
or manager’s check at SEC ment Form and generates Designated Partnership’s capital but not (OR)
Cashier or designated official receipt Banks and other less than P2,000.00 plus 1% of
banking institutions i.e. payment facili- the amount as legal re-
LandBank, or other pay- ties search fee
ment facilities

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
4 After receipt of the applica- CPRD staff Generated Certifi-
tion, Satellite Office staff cate of Recording
generates the Certificate of of the Articles of
Recording of the Articles of Partnership from
Partnership bearing appli- the i-Register sys-
cant’s SEC Registration No. tem
and corporate Tax Identifi-
cation No.
5 Physical transfer of the appli- Within 8 working hours
cation and its attachments
to the CRMD Director
6 CRMD Director reviews and CRMD Director
approves the application
7 Presents Official Receipt to Sorts articles of partnership 5 minutes CFRD Staff/ Signed Certificate
SEC Satellite Office to get with Certificate of Recording Satellite Office of Recording of the
the Certificate of Record- of the Articles of Partnership Support Staff Articles of Partner-
ing of the Articles of Part- for release to applicant ship
nership
END OF TRANSACTION

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Satellite Office: Processing of Applications for Amendment of Stock and Non-Stock Domestic
Corporations
Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Applicant corporations thru their representatives
What are the requirements :
A. AMENDED ARTICLES OF INCORPORATION
1) Cover Sheet
2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors (in case of stock corporations) or trustees (in case of non
-stock corporations) and the corporate secretary, certifying (i) the amendment of the Articles of Incorporation or By-laws and indicating the amended
provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date and place of the stockholders’ or members’ meeting; and
(iv) the tax identification number of the signatories which shall be placed below their names.
3) Amended Articles of Incorporation/Amended By-laws—All amendments/changes made shall be indicated by underscoring the same followed by the
date of the meeting approving the same (i.e. As amended on_____).
4) Notarized Secretary’s Certificate on no pending case of intra-corporate dispute
5) Monitoring clearance at the SEC Satellite Office
6) Secure and attach endorsement/clearance from other government agencies or other SEC Departments, if applicable.
7) If the provision to be amended is the corporate name, secure Name Verification Slip from the Name Verification and Reservation Unit, SEC Satellite
Office
8) Amendment of the Articles of Incorporation may be made on the following:
a.) Corporate name
b.) Purpose (Primary/Secondary)
c.) Address
d.) Number of directors/trustees
e.) Authorized capital stock

B. AMENDED BY-LAWS
1) Amended By-laws
2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors or trustees and the corporate secretary, certifying to (i)
the amendment of the By-laws, indicating the amended provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date
and place of the stockholders’ or members’ meeting, and (iv) the tax identification number of the signatories which shall be placed below their
names
3) Notarized Secretary’s Certificate on no pending case of intra-corporate dispute
4) Monitoring Compliance

Note: The following cannot be amended: names, citizenship and residences of the incorporators and/or directors/trustees; names, citizenship and original
subscription of the subscribers; names and contribution of each member; name of the designated Treasurer.

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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Prepares Directors’ or Trus- As stated in the
tees’ Certificate and basic requirements
Amended Articles of Incor- for amendments
poration and/or Amended
By-laws
2 Secures Monitoring Clear- Checks compliance with Within 5 days from Satellite Office Payment of penalties Payment Assess-
ance at the SEC Satellite reportorial requirements; date of presentation Securities Spe- ment Form/ Moni-
Office Checks for any double sub- of complete require- cialist toring Sheet
mission of the General Infor- ments
mation Sheet; and
Determines existence of in-
tra-corporate disputes as
provided under the
“Guidelines on Double Sub-
mission of GIS.”

Note:
For Financing and Lending
companies, issuers of propri-
etary or non-proprietary
membership (i.e. golf clubs)
listed and public companies
and foundations, monitoring
shall be with the Corporate
Governance and Finance
Department (CGFD).

For capital market partici-


pants such as brokers, deal-
ers and investment houses,
monitoring is with the Mar-
kets Securities and Regula-
tion Department (MSRD).

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
3 Submits the (i) Directors’/ Checks documents if com- 15-30 minutes depend- Satellite Office As stated in the
Trustees’ Certificate; (ii) pliant with the provisions of ing on the complexity Securities Spe- basic requirements
Amended Articles of Incor- the Corporation Code of the of amendments cialist for amendments
poration and/or Amended Philippines and other existing
By-laws; and the (iii) Moni- laws. If complete, advises
toring Clearance to SEC registrant to pay filing fee. If
Satellite Office for pre- not, advises applicant to
processing comply with requirements
4 Pays filing fee thru cashier’s Accepts Payment Assess- 5 minutes SEC Cashier/ Registration fee for the Official Receipt
or manager’s check at SEC ment Form and generates Designated Amended Articles of Incor-
Cashier or designated official receipt Bank and other poration is P1,000.00 plus 1%
payment facili- Legal Research Fee (LRF) of
banking institutions i.e.
ties not less than P50.00.
LandBank, or other pay-
ment facilities Registration fee for the
Amended Articles of Incor-
poration where amendment
consists of extending the
term of corporate existence
is 1/5 of 1% of the authorized
capital stock but not less
than P2,000.00 plus 1% of
Legal Research Fee (LRF).

Registration fee for the


Amended Articles of Incor-
poration where there is con-
version or reclassification of
shares is P2,000.00 plus 1%
Legal Research Fee (LRF).

Registration fee for the


Amended By-laws is
P1,000.00 plus 1% Legal Re-
search Fee (LRF) of not less
than P50.00

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 Physical transfer of the appli- Within 8 working hours CRMD Staff
cation and its attachments
to the Main Office

6 Files the application to the After receipt of the applica- 5-10 minutes Satellite Office
SEC Satellite Office tion, the same shall be for- Staff/
warded to the Corporate CPRD Staff
Filings and Records Division
(CFRD) for the verification
and production of appli-
cant’s corporate records on
file with the Commission. For
corporations registered from
1996 onwards whose records
are available in the Commis-
sion’s database, production
of documents may take 1 to
2 days. However, for corpo-
rations whose records are
not available in the data-
base, production of docu-
ments may take longer as
the same shall be secured
from the SEC offsite ware-
house.

Thereafter, the application Printed Certificate


with the attached records of Filing of Amend-
shall be transmitted to CPRD ed Articles of Incor-
for the generation of the poration and/or By-
Certificate of Filing of laws.
Amended Articles of Incor-
poration and/or By-laws.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
7 The Assistant Director will re- Asst. Director
view the application and
forward it to the CRMD Di- CRMD Director
rector for approval
8 Presents Official Receipt to Sorts articles of incorporation Certificates may be Satellite Office Signed Certificate
SEC Satellite Office to get and/or by-laws with Certifi- claimed within five (5) Staff/ of Filing of the
the Certificate of Approval cate of Filing of Amended days from filing of ap- Amended Articles
Articles of Incorporation CFRD Staff of Incorporation
of Amendment plication from the SEC
and/or Certificate of Filing of and/or By-laws
Amended By-laws for re- Satellite Office Releas-
lease to applicant ing Unit. However, for
corporate records not
available in the data-
base, the release of
the Certificate of Filing
may vary.
END OF TRANSACTION

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Satellite Office: Processing of Applications for Amendment of Partnerships


Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Applicant partnerships thru their representatives
What are the requirements :
1) Cover Sheet
2) The Amended Articles of Partnership signed by all partners and duly notarized

If the amendment pertains to the transfer or assignment of interest(s), or the withdrawal, resignation or death of any partner, the document
evidencing said fact shall be submitted in support of the application.
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
1 Prepares the Amended As stated in the
Articles of Partnership basic requirements
for amendments

2 Submits the Amended Arti- Checks the documents if 5 minutes Satellite Office
cles of Partnership at the compliant with the Civil Securities Spe-
SEC Satellite Office for pre- Code provisions on partner- cialist
processing. ship and other existing laws.
If complete, advises regis-
trant to pay filing fee. If not,
advises applicant to comply
with requirements.
3 Pays filing fee thru cashier’s Prepares Payment Assess- 1 minute Designated Registration fee P2,000.00 Payment Assess-
or manager’s check at SEC ment Form Banking Institu- plus 1% of Legal Research ment Form/
Cashier or designated tions and other Fee (LRF) Official Receipt
banking institutions i.e. payment facili-
LandBank, or other pay- ties For increase of capital: 1/5
ment facilities of 1% of the increase in cap-
ital but not less than
P2,000.00 plus 1% Legal Re-
search Fee
4 Physical transfer of the appli- Within 8 working hours CRMD Staff
cation and its attachments
the Main Office
Company Registration and Monitoring Department P a g e 185
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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 Files the application to the After receipt of the applica- 10-15 minutes Satellite Support Printed Certificate
SEC Satellite Office tion by CFRD, the records on Staff of Recording of
file shall be attached and Amended Articles
transmitted to CPRD for the CPRD Staff of Partnership
generation of the Certificate
of Recording of Amended
Articles of Partnership.

The Asst. Director will review Asst. Director


the application and forward
it to the CRMD Director for
approval. CRMD Director
6 Presents Official Receipt to Sorts articles of partnership Certificate may be Satellite Office Signed Certificate
SEC Satellite Office to get with Certificate of Recording claimed within 5 days Staff/ of Recording of
the Certificate of Record- of the Amended Articles of from the filing of appli- Amended Articles
CFRD Staff of Partnership.
ing of Amended Articles of Partnership for release to cation with the SEC
Partnership. applicant Satellite Office Receiv-
ing Unit
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 186


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Satellite Office: Processing of Applications for Increase/Decrease of Authorized Capital Stock,


Reclassification/Conversion/Change of Par Value Sales
Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :
Amendment of Article VII of Articles of Incorporation:
1) Increase of Authorized Capital Stock
2) Decrease of Authorized Capital Stock
 Thru Return of Capital
 All Others
3) Reclassification / Conversion / Change of Par Value of Shares

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1 Presents application and Pre-screening of Applications 5 minutes Support None
supporting documents, Staff
together with monitoring Note: Documents must be complete
clearance, for pre- in accordance with checklist of re-
processing quirements herein provided. Other-
wise the same shall be rejected.

Pre-process application and support- 30 minutes to 1 Specialist


ing documents Hour None
a) If compliant, the assigned Proces-
sor prepares final checklist and
forwards the same to the FAAD
Assistant Director for review
b) If non-compliant, prepares check-
list of deficiencies

Physical transfer of the application Within 8 working CRMD Staff


and its attachments to the Main Of- hours
fice

Company Registration and Monitoring Department P a g e 187


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
2 Prepares Payment Assess- Upon approval of the prepared re- 5-10 minutes Specialist Increase of Capital Stock
ment Form (PAF) port (corporation with par value) -
1/5 of 1% of the increase
stock or the subscription price
of the subscribed capital
stock whichever is higher but
not less than P3,000.00 plus
1% Legal Research Fee (LRF)
Increase of Capital Stock
( corporation with no par val-
ue) - 1/5 of 1% of the in-
crease stock computed at
P100.00 or the subscription
price of the subscribed capi-
tal stock whichever is higher
but not less than P3,000.00
plus 1% Legal Research Fee
(LRF)
Decrease of Authorized Cap-
ital stock-
Return of capital: P5,000.00
plus 1% LRF
All others: P3,000.00 plus 1%
LRF
Amended Articles of Incorpo-
ration re: conversion/
reclassification of shares –
P2,000.00 plus 1% LRF

3 File the application to the After receipt of the application by 10-15 minutes Satellite Printed Certifi-
cate of Increase/
SEC Satellite Office CFRD, the records on file shall be at- Support
Decrease of Au-
tached and transmitted to CPRD for Staff thorized Capital
the generation of the Certificate of Stock and
Increase/Decrease of Authorized CPRD Staff Amended Articles
of Incorporation
Capital Stock and Amended Articles
of Incorporation
Company Registration and Monitoring Department P a g e 188
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
- Please Proceed to Step 2 -
1 Presents application and Pre-screening of Applications 5 minutes Support None
supporting documents, Staff
together without monitor- Note: Documents must be complete
ing clearance, for pre- in accordance with checklist of re-
processing quirements herein provided. Other-
wise the same shall be rejected

Pre-process application and sup- 1 hour to 3 hours Specialist


porting documents
a) If compliant, the assigned Proces-
sor forwards the application to the
FAAD Assistant Director
b) If non-compliant, prepares check-
list of deficiencies

Monitors compliance with reporto- 1-2 Hours Specialist


rial requirements and rules and
regulations of SEC

c) If assessed without PENALTY, the


assigned Processor forwards the
application to the FAAD Assistant
Director provided the application
documents are compliant (item
no. 2)
d) If assessed with PENALTY, Prepares
and issues Payment Assessment
Form (PAF)

Physical transfer of the application Within 8 working CRMD Staff


and its attachments to the Main Of- hours
fice

Company Registration and Monitoring Department P a g e 189


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Review applications and supporting 30 minutes to 1 CPRD/
documents Hour FAAD Assis-
tant Direc-
tor(s)

2 Pays assessed penalties at Processes payment and Issues Official 5 minutes Cashier
the designated payment Receipt
utilities

3 Submits the machine- 1) Receives the PAF and application 5 minutes Support
validated PAF and the ap- documents Staff
plication documents, if 2) Prepares Confirmation of Payment 10 to 15 minutes
compliant (item 2 of 1.2.1), of Penalties Specialist
to the Assigned Processor 3) Attaches the same to the applica- 1 minute
thru the Counter Officer tion documents
4) Prepares and submits final check- 15 to 20 minutes
list for review

4 Submits the machine- 1) Secures and attaches the PAF to 3 minutes Support None
validated PAF to Satellite the application Staff
Office together with the 2) Stamps receive Four (4) sets the 1 minute (Receiving
Four (4) sets of application application documents Officer)
documents 3) Returns one (1) copy of the appli- 1 minute
cation to the client
4) Forwards the application to CFRD End of the day Support
10 to 15 minutes Staff
5) Verifies and produces applicant’s
(CFRD)
record which shall be attached to
the application
5 minutes Support
6) Forwards the application to CPRD
Staff
for the generation of Certificate 30 Minutes (CPRD)
7) Generates Certificate
8) Approves and signs application 5 to 10 minutes Director
documents and certificate, re-
spectively.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
9) Forwards to CRMD Releasing Unit Support None
Staff
(Office of
the Direc-
tor)

5 Presents Official Receipt to Sorts/Releases the Certificate of In- 5 minutes Support


Satellite Office to claim the crease/Decrease of Authorized Capi- Staff
approved Certificate of tal Stock and Certificate of Filing of (Releasing)
Increase, Decrease, Amended Articles of Incorporation
Amended Articles of Incor- and/or By-laws with all pertinent doc-
poration uments
END OF TRANSACTION

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Satellite Office: Processing of Conversion of Branch Office to Representative Office (Vice Versa),
Regional Area Headquarters (RHQ) to Regional Operating Headquarters (ROHQ) (Vice Versa),
Change/Substitution of Resident Agent, Withdrawal of License and other Amendments of Foreign
Corporations
Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :

Petition for Amendment/Conversion of License


1) Authenticated copy of the Board Resolution approving the amendment/conversion
2) Monitoring Clearance
3) Endorsement from the Board of Investments (for RHQ and ROHQ)

Additional Requirements for Amendment for Corporate Name


1) Name Verification Slip
2) Affidavit of a Director/Resident Agent/Local Agent undertaking to change the new corporate name
3) Authenticated copy of Amended Articles of Incorporation/Association/By-laws with an English translation if a foreign language other than English

Additional requirement for Conversion of License to Stock Branch Office (DME) and ROHQ
 Proof of compliance with the minimum assigned capital/remittance
 Application form (not required if Petition contains all the items in the prescribed Application Form)

Change of Resident Agent


1) Petition for Change of Resident Agent (RA)
2) Authenticated copy of the Board Resolution approving the change/appointment of RA
3) Acceptance by the new RA (not required if RA is the signatory to the Petition)
4) Monitoring Clearance

Withdrawal of License
1) Petition for withdrawal of License;
2) Authenticated copy of the Board Resolution authorizing the withdrawal of license
3) Audited Financial Statements (AFS)
a) as of the last fiscal year
b) stamped received by the BIR and SEC
4) List of creditors, if any, and their consent, OR notarized certification as to non-existence of creditors (Note: to be verified against the AFS)
5) Original license issued by SEC
6) Publisher's affidavit evidencing the publication of the notice of withdrawal ( once a week for three [3] consecutive weeks )
7) Endorsement/Clearance from the Board of Investments (for RHQ and ROHQ)
8) Endorsement/Clearance from appropriate government agencies
9) BIR Tax Clearance

Company Registration and Monitoring Department P a g e 192


Table of Contents

How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Prepares Petition for conver- As stated in the
sion/withdrawal of license and basic requirements
other documentary require- for conversion/
ments Withdrawal

2 Secures Monitoring Clearance Checks compliance with Within 5 days Securities Spe- Payment of penalties Payment Assess-
reportorial requirements from date of cialist ment Form/ Monitor-
presentation of ing Sheet
complete re-
quirements

3 Submits the Petition for conver- Checks documents if com- 15-30 minutes Securities Spe- None As stated in the
sion/withdrawal of license, pliant with the provisions of cialist basic requirements
Monitoring Clearance and oth- the Corporation Code of for amendments
er documentary requirements the Philippines and other
existing laws. If complete,
advises registrant to pay
filing fee. If not, advises ap-
plicant to comply with re-
quirements

4 Review of CPRD and/or 30 minutes CPRD and/or


FAAD Asst. Director(s) FAAD Asst. Di-
rector(s)

Company Registration and Monitoring Department P a g e 193


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
5 Pays filing fee thru cashier’s or Accepts payment assess- 5 minutes SEC Cashier Conversion of Repre- Official Receipt
manager’s check at SEC Cash- ment form and generates sentative Office to
ier official receipt Branch Office vice versa-
1% of the actual inward
remittance converted
into Philippine currency
but not less than
P5,000.00 plus 1% Legal
Research Fee (LRF)

Conversion of ROHQ to
RHQ vice versa – 1% of
the actual remittance
but not less than 1% of
peso equivalent of
US$200,000 at the time of
remittance

Petition for Amendment


of License of Foreign Cor-
porations and multina-
tional companies –
P3,000.00 plus 1% Legal
Research Fee

Withdrawal of License of
Foreign Corporations and
Multinational corpora-
tions – P3,000.00 plus Le-
gal Research Fee

Petition for appointment/


substitution/revocation of
resident agent - P3,000.00
plus Legal Research Fee

Company Registration and Monitoring Department P a g e 194


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
5 Amended Articles of In- Official Receipt
corporation and By-laws
of foreign corporations -
P2,000.00 plus Legal Re-
search Fee

6 Files the application to the Re- After receipt of the applica- 5-10 minutes Support Staff/ None
ceiving Unit, Corporate Filings tion, the same shall be for- CPRD Staff
and Records Division (CFRD) warded to the Corporate Fil-
ings and Records Division
(CFRD) for the verification and
production of applicant’s cor-
porate records on file with the
Commission. For corporations
registered from 1996 onwards
whose records are available
in the Commission’s data-
base, production of docu-
ments may take 1 to 2 days.
However, for corporations
whose records are not availa-
ble in the database, produc-
tion of documents may take
longer as the same shall be
secured from the SEC offsite
warehouse.

Thereafter, the application


with the attached records
shall be transmitted to CPRD
for the generation of the Cer-
tificate of Filing of Amended
Articles of Incorporation and/
or By-laws.

CRMD Director reviews and CRMD Director Printed License


approves the application

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Presents Official Receipt to Re- Sorts petition and other License may be Support Staff/ None Signed License
leasing Unit, CFRD to get the documentary requirements claimed within CFRD Staff
License of Approval of Amend- together with the license five (5) days
ment from filing of ap-
plication. How-
ever, for corpo-
rate records not
available in the
database, the
release of the
Certificate of
Filing may vary.

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 196


Table of Contents

Satellite Office: Processing of Applications of Foreign Corporations


Schedule of availability of service : Monday to Friday, 10:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Registrant foreign corporation thru their representatives
What are the requirements :
1) Cover Sheet
2) Name Verification Slip
3) Application Form (AF)
a) F-103 – Stock Branch Office (SBO)
b) F-104 – Stock Representative Office (SRO)
c) F-108 – Non-Stock Branch and Representative Office, including Foundations (NBO & NRO)
4) Authenticated copy of the Board Resolution
i) authorizing the establishment of the Branch/Representative Office in the Philippines
ii) designating the Resident Agent to whom summons and other legal processes may be served in behalf of the foreign corporation
iii) stipulating that in the absence of such Agent or upon cessation of its business in the Philippines, any summons or legal processes may be served to
SEC as if the same is made upon the corporation at its home office
5) Authenticated copy of the Articles of Incorporation/ Partnership / Establishment with an English translation thereof if in a foreign language other than
English
6) Financial Statements (per MC 11 of 2013)
a) For those whose home country requires audited financial statements, the applicant shall submit financial statements:
 for the immediately preceding year at the time of filing of the application
 audited by an independent Certified Public Accountant of the home country
 authenticated before the Philippine Consulate/Embassy

If the date of the AFS exceeds the one-year requirement, the applicant shall submit:
 Authenticated Audited Financial Statements that are available as of date of filing of the application; and
 Authenticated Unaudited Financial Statements (AUFS) as of date not exceeding one (1) year immediately prior to the filing of the applica-
tion signed by an officer of the foreign corporation.

b) For those whose home country does not require audited financial statements, the applicant shall submit:
 Authenticated Unaudited Financial Statements as of a date not exceeding one (1) year immediately prior to the filing of the application; and
 Authenticated Certification signed under oath by an officer of a responsible regulatory institution or by the applicant’s legal counsel that the ap-
plicant is not required to prepare and submit audited financial statements, with citation of the law or regulation on which it is based. (attach the
print out of the law for verification purposes)

Company Registration and Monitoring Department P a g e 197


Table of Contents

7) Compliance with Financial Ratios


Stock Branch Office

Ratio Formula Benchmark Value


Solvency Total Assets/Total Liabilities 1:1
Liquidity Current Assets/Current Liabilities 1:1
Debt to Equity Total Liabilities/Equity 3:1

Stock Representative Office, Non-Stock Branch Office & Non-Stock Representative Office

Ratio Formula Benchmark Value


Solvency Total Assets/Total Liabilities 1:1

Notes:
(If Solvency Ratio is not within the Benchmark Value: application is rejected)
If Liquidity Ratio and/or Debt to Equity Ratio is/are not within the Benchmark Value/s: Submit PhP1M Surety Bond

8) Notarized proof of inward remittance such as bank certificate of inward remittance or credit advices
9) Affidavit of undertaking to change corporate name (not required if already stated in the AF)
10) Residents Agent’s acceptance of appointment (not required if RA is the signatory to the AF)
11) Indorsement/Clearance from appropriate government agencies
12) Additional Requirements for Foundations
 Notarized Certificate of Bank Deposit of the amount of not less than PhP1M
 Statement of willingness to allow the Commission to conduct an audit

Regional Area Headquarters (RHQ) and Regional Operating Headquarters (ROHQ)


1) Name Verification Slip
2) Application Form
3) Certification from the Philippine Consulate/Embassy or the Philippine Commercial Office or from the equivalent office of the Philippine DTI in the appli-
cant's home country that said foreign firm is an entity engaged in international trade with affiliates, subsidiaries or branch offices in the Asia Pacific Re-
gion and other foreign markets; in case the Certification is issued by the equivalent office of the DTI, the same shall be authenticated by the Philippine
Consulate/Embassy
4) Authenticated Certification from principal officer of the foreign entity to the effect that the said foreign entity has been authorized by its board of di-
rectors or governing body to establish its RHQ/ROHQ
5) Affidavit of undertaking to change corporate name (not required if already stated in the AF)
6) Endorsement of the Board of Investments (BOI)
7) Endorsement/Clearance from appropriate government agencies, if applicable

Company Registration and Monitoring Department P a g e 198


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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Applicant presents ALL ac- Assigns the application to 5 minutes Support Staff FIA Form 103 –
complished documentary processor SBO
requirements for pre-
processing at the Satellite FIA Form 104 –
Office SRO

FIA Form 108 -


NBO/NRO

RHQ

ROHQ
2 Applicant waits to be Specialist pre-processes/ 30 minutes Securities Spe- All documentary
called by the Specialist evaluates the application cialist requirements

3 Specialist issues Payment 5 minutes Securities Spe- Filing Fees (FF): Payment Assess-
Assessment Form (PAF) cialist SBO: ment Form
1% of the actual inward re-
mittance converted into
Philippine currency but not
less than P3,000

SRO:
1/10 of 1% of the actual in-
ward remittance converted
into Philippine currency but
not less than P2,000

NBO & NRO:


P3,000

RHQ:
P5,000

Company Registration and Monitoring Department P a g e 199


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

3 ROHQ:
1% of the actual inward re-
mittance but not less than
1% of peso equivalent of
US$200,000 at the time of
remittance

Legal Research Fee:


For ALL Applications:
1% of the License Fee but
not less than P50.00 shall be
paid at the time of filing
4 Applicant pays license fees Cashier
to cashier and files appli-
cation with Receiving Unit, CFRD Support
Corporate Filing and Rec- Staff
ords Division
5 Upon receipt of application 15 minutes Securities Spe- License Checklist
from the CFRD, CPRD Sup- cialist
port prepares the License,
and the Securities Specialist
prepares the Checklist of
Requirements , which con-
tains the financial report for
SBO (Checklist)

6 FAAD and/or CPRD Assistant 1 hour FAAD and/or License Checklist


Director(s) evaluates/ CPRD Assistant
reviews the License and oth- Director(s)
er attached documentary
requirements and initials the
same.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)

7 CRMD Director reviews/signs 30 minutes CRMD Director License


the License.

8 Applicant claims the Li- CFRD Support License


cense from CFRD Staff
(Official Receipt must be
presented)
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 201


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Greenlane Unit: Registration of Stock and Non-Stock, Non-Profit Corporations and Partnerships
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break); Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements :

A. Stock Corporation

1) Reservation Payment Confirmation


2) Articles of Incorporation (AI), with cover sheet
3) Treasurer’s Affidavit
4) By-laws (BL)
5) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Incorporation
6) Affidavit of Relinquishment (in case Treasurer-in-Trust is a foreigner for a corporation with a 60% Filipino-40% foreign equity)
7) Proof of Residency in the Philippines, in case all or majority of the incorporators are resident aliens
8) Authenticated Articles of Incorporation and By-Laws and supporting documents, in case any of the incorporator/s or authorized signatories signed the
AI-BL or other documents in a foreign country
9) Endorsement/Clearance from other government agencies, if applicable
10) Endorsement/Clearance from other Department/s of the SEC, if applicable
11) Endorsement/Clearance from a) Philippine Economic Zone Authority (PEZA); b) Subic Bay Metropolitan Authority (SBMA) or Clark Development Corpo-
ration (CDC) and c) Cagayan Economic Zone Authority, if applicable
12) Tax Identification Numbers (TIN) for Filipino incorporators, directors, officers and stockholders, including corporate subscribers
13) Tax Identification Numbers (TIN) or Passport Numbers for foreign incorporators, directors, officers and domestic foreign subscribers
14) Proof of Existence of foreign corporate subscribers
15) Filing Fees:

a) Stock corporation with par value – 1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock, whichever is
higher but not less than P2,000
b) Stock corporation without par value – 1/5 of 1% of the authorized capital stock computed at P100 per share of the subscription price of the sub-
scribed capital stock, whichever is higher but not less than P2,000

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What are the requirements :

B. Non-Stock, Non-Profit Corporation

1) Reservation Payment Confirmation


2) Articles of Incorporation (AI) and By-Laws (BL), with cover sheet
3) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Incorporation
4) List of names of contributors or donors and the amounts contributed or donated, certified by the Treasurer (not required if this is already stated in the
Articles of Incorporation). There is no fixed amount of contribution required but only such amount as the incorporators and trustees may deem suffi-
cient to enable the corporation to start operation, except in the case of a Foundation which must have a minimum contribution of at least One Million
Pesos (P1,000,000.00)
5) Endorsement/clearance from other government agencies, if applicable
6) For a Foundation: a) Notarized Certificate of Bank Deposit of the contribution which shall not be less than One Million (P1,000,000,00) Pesos; and
b) Statement of Willingness to allow the Commission to conduct an audit
7) For a Religious Corporation: a) Refer to Sections 109-116 of the Corporation Code; b) An affidavit of Affirmation or Verification by the chief priest,
rabbi, minister or presiding elder (not required if this is already part of the Articles of Incorporation)
8) For a Federation: List of Member-Associations, certified by the Corporate Secretary
9) For a Condominium corporation/association: a) Master Deed with primary entry of the Register of Deeds; b) Certification that there is no other existing
similar condominium association within the condominium project
10) Tax Identification Numbers (TIN) for Filipino incorporators, trustees/directors, officers and members
11) Tax Identification Numbers (TIN) or Passport Numbers for foreign incorporators, trustees/directors, officers and members
12) Filing Fee: P1,000.00

C. Partnership

1) Reservation Payment Confirmation


2) Articles of Partnership
3) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Partnership
4) Endorsement/Clearance from other government agencies, if applicable
5) Endorsement/Clearance from other Department/s of the SEC, if applicable
6) Tax Identification Numbers (TIN) for Filipino partners
7) Tax Identification Numbers (TIN) or Passport Numbers for foreign partners
8) Filing fee: 1/5 of 1% of the partnership’s capital but not less than P2,000
*Legal Research Fees: 1% of the Registration/Filing Fee but not less than Fifty Pesos (P50.00) shall be paid at the time of filing.

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How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
1 Presents application and 1) Receives, encodes and 5 minutes per application Officer of the day Articles of Incorpo-
supporting documents assigns application to ration and By-Laws
processor for pre- (stock or non-stock
processing based on a corporation)
first-come, first served
basis in accordance with
the number queuing. Articles of Partner-
Signs the request form/ ship
transaction slip with the
name of the assigned
processor and gives
back to applicant. How-
ever, in case the name
reservation notice is ex-
pired, applicant is ad-
vised to proceed to the
Name Verification Unit
for extension of name. If
the documents are not
arranged in proper se-
quence, applicant is ad-
vised to arrange in the
proper order.

2) Evaluates/pre-processes 5-15 minutes for pro-forma AI- Processor


application and support- BL; 20-30 minutes for complex
ing documents AI-BL.

a) If application and sup-


porting documents
are incomplete, the
processor returns
them to applicant
with list of deficiencies
and requirements not
complied with.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
b) If application and sup-
porting documents are
complete, processor
endorses the same to
the Officer-in-Charge
or Assigned Reviewer

3) Reviews applications 5-10 minutes for pro-forma AI- Officer-in-Charge


BL; 30-40 minutes for complex (OIC) or Securities
AI-BL Specialist

a) Stamps OK for PAF Officer-in-Charge Stock Corp.: I/5 Cover sheet of the
(Payment Assessment (OIC) or Securities of 1% of the AI-BL duly initialed
Form) the cover sheet Specialist authorized by the OIC or Secu-
of the application if capital stock or rities Specialist to
the same is compliant the subscrip- show that it has
b) If deficient, returns to tion price of been reviewed and
processor or directly the subscribed cleared for issu-
advises the client, with capital stock, ance of the PAF
checklist of the defi- whichever is
ciencies. higher but not
less than
4) Prepares Payment Assess- Officer of the day P2,000.00 PAF
ment Form (PAF).
Non-stock
corp.:
P1,050.00

Partnership:
1/5 of 1% of
the partner-
ship’s capital
but not less
than P2,000.00

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
5) Initials the PAF and calls Processor, Securities PAF duly initialed by
the name of the corpora- Specialist or OIC the processor, Se-
tion to instruct the repre- curities Specialist or
sentative to pay at the OIC
Cashier and proceed to
the receiving section after
payment
2 Presents the PAF and pays Receives payment and is- Varies Cashier PAF/OR
at the Cashier sues OR
3 6. a) Receives the paid ap- a) and b) 5 minutes per appli- Support Staff Certificate of Incor-
plications, performs teller- cation poration
ing by inputting the Reser- with SEC Reg. No.
vation Reference Number and TIN of Regis-
(RRN) in the i-Register sys- trant
tem to generate SEC Reg-
istration Number and BIR
Tax Identification Number
(TIN)
b) Inputs Corporate Name
and SEC Reg. No. in the
Masterlist and prints Certif-
icate of Incorporation via
SEC i-register

7. Certificates of Incorpora-
tion and applications for-
warded to the Office of the
CRMD Director for review
and approval
Certificates of In-
a) Reviews and signs Certifi- 30 minutes per application CRMD Director
corporation duly
cates of Incorporation
signed by the
and URR transmittal letters
CRMD Director
b) Returns to the processor
or OIC of the GLU in case
of deficiencies.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
8.a) Generates Employer’s a) and b) 1 minute per applica- Support Staff Unified Registration
Registration Numbers (ERNs) tion Records (URRs)
from the three (3) social bearing the Em-
agencies (i.e., SSS, Pag-IBIG ployer’s Registra-
and PhilHealth) and print tion Numbers
Unified Registration Records (ERNs) issued by the
(URRs) through the Integrat- SSS, Pag-IBIG and
ed Business Registration Sys- PhilHealth and URR
tem (IBRS) and print-out pro Transmittal
forma transmittal letters
Letters
b) Encodes work assignment
status via SEC –iRegister

9. Records and forwards 10 seconds per application Executive Assistant or


Certificates of Incorporation Clerk assigned at the
and applications to the Re- Office of the Director
leasing Unit, Corporate Filing
and Records Division (CFRD)

10. Document Identification 30 seconds per application Approved applica-


(Doc ID) of the approved tions sorted by
certificates of incorporation batch to be for-
and applications. warded to the Mi-
crofilm Unit of the
Commission
END OF TRANSACTION

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Application for Amendment of Stock and Non-Stock Domestic Corporations


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break); Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements :

I. Amended Articles of Incorporation

1) Cover Sheet
2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors (in case of stock corporations) or trustees (in case of non
-stock corporations) and the corporate secretary, certifying (i) the amendment of the Articles of Incorporation or By-laws and indicating the amended
provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date and place of the stockholders’ or members’ meeting;
and (iv) the tax identification number of the signatories which shall be placed below their names.
3) Amended Articles of Incorporation/Amended By-laws—All amendments/changes made shall be indicated by underscoring the same followed by the
date of the meeting approving the same (i.e. As amended on_____).
4) Notarized Secretary’s Certificate on no pending case of intra-corporate dispute
5) Monitoring clearance at the Corporate and Partnership Registration Division
6) Secure and attach endorsement/clearance from other government agencies or other SEC Departments, if applicable.
7) If the provision to be amended is the corporate name, secure Name Verification Slip from the Name Verification and Reservation Unit, 2nd Floor, SEC
Bldg.
8) Amendment of the Articles of Incorporation may be made on the following:
a.) Corporate name
b.) Purpose (Primary/Secondary)
c.) Address
d.) Number of directors/trustees
e.) Authorized Capital Stock

II. Amended By-Laws

1) Amended By-laws
2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors or trustees and the corporate secretary, certifying to (i)
the amendment of the By-laws, indicating the amended provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date
and place of the stockholders’ or members’ meeting, and (iv) the tax identification number of the signatories which shall be placed below their
names
3) Notarized Secretary’s Certificate on no pending case of intra-corporate dispute
4) Monitoring Clearance at the Corporate and Partnership Registration Division

Note: The following cannot be amended: names, citizenship and residences of the incorporators and/or directors/trustees; names, citizenship and original
subscription of the subscribers; names and contribution of each member; name of the designated Treasurer.

Company Registration and Monitoring Department P a g e 208


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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(UNDER NORMAL CIR- CHARGE
CUMSTANCES)
1 Prepares Directors’ or As stated in the
Trustees’ Certificate basic requirements
and Amended Articles for amendments
of Incorporation and/
or Amended By-laws

2 Secures Monitoring Checks compliance with re- Within 5 days from date Securities Specialist Payment of penalties Payment Assess-
Clearance portorial requirements; of presentation of com- ment Form/ Moni-
plete requirements toring Sheet
Checks for any double sub-
mission of the General Infor-
mation Sheet; and

Determines existence of intra-


corporate disputes as provid-
ed under the “Guidelines on
Double Submission of GIS.

Note:
For Financing and Lending
companies, issuers of proprie-
tary or non-proprietary mem-
bership (i.e. golf clubs) listed
and public companies and
foundations, monitoring shall
be with the Corporate Gov-
ernance and Finance Depart-
ment (CGFD)

For capital market partici-


pants such as brokers, dealers
and investment houses, moni-
toring is with the Markets Se-
curities and Regulation De-
partment (MSRD)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(UNDER NORMAL CIR- CHARGE
CUMSTANCES)
3 Submits the (i) Direc- Checks documents if com- 15-30 minutes Securities Specialist None As stated in the
tors’/Trustees’ Certifi- pliant with the provisions of basic requirements
cate; (ii) Amended the Corporation Code of for amendments
Articles of Incorpora- the Philippines and other
tion and/or Amended existing laws. If complete,
By-laws; and the (iii) advises registrant to pay fil-
Monitoring Clearance ing fee. If not, advises appli-
for pre-processing cant to comply with require-
ments.

4 Pays filing fee thru Accepts payment assess- 5 minutes SEC Cashier Registration fee for the Official Receipt
cashier’s or man- ment form and generates Amended Articles of
ager’s check at SEC official receipt Incorporation is
Cashier P1,000.00.

Registration fee for the


Amended Articles of
Incorporation where
amendment consists of
extending the term of
corporate existence is
1/5 of 1% of the author-
ized capital stock but
not less than P2,000.00
plus 1% of such amount
as legal research fee.

Registration fee for the


Amended Articles of
Incorporation where
there is conversion or
reclassification of shares
is P2,000.00 plus Legal
Research Fee (LRF) of
not less than P50.00.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(UNDER NORMAL CIR- CHARGE
CUMSTANCES)
4 Registration fee for the Official Receipt
Amended By-laws is
P1,000.00 plus Legal Re-
search Fee (LRF) of not
less than P50.

5 Files the application to After receipt of the applica- 5-10 minutes Support Staff/ None
the Receiving Unit, tion, the same shall be for- CPRD Staff
Corporate Filings and warded to the Corporate
Records Division Filings and Records Division
(CFRD) (CFRD) for the verification
and production of appli-
cant’s corporate records on
file with the Commission. For
corporations registered from
1996 onwards whose rec-
ords are available in the
Commission’s database,
production of documents
may take 1 to 2 days. How-
ever, for corporations whose
records are not available in
the database, production of
documents may take longer
as the same shall be se-
cured from the SEC offsite
warehouse.

6 Thereafter, the application Printed Certificate


with the attached records of Filing of Amend-
shall be transmitted to CPRD ed Articles of Incor-
for the generation of the poration and/or By-
Certificate of Filing of laws
Amended Articles of Incor-
poration and/or By-laws.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(UNDER NORMAL CIR- CHARGE
CUMSTANCES)
7 Assistant Director will review 20-30 minutes Asst. Director Printed Certificate
the application of Filing of Amend-
ed Articles of Incor-
poration and/or By-
laws

8 CRMD Director signs the CRMD Director Printed Certificate


Certificate of Filing of Amend-
ed Articles of Incor-
poration and/or By-
laws

9 Presents Official Re- Sorts articles of incorpora- Certificates may be Support Staff/ None Signed Certificate
ceipt to Releasing tion and/or by-laws with claimed within five (5) CFRD Staff of Filing of the
Unit, CFRD to get the Certificate of Filing of days from filing of appli- Amended Articles
Certificate of Approv- Amended Articles of Incor- cation from the Releas- of Incorporation
al of Amendment poration and/or Certificate ing Unit. However, for and/or By-laws
of Filing of Amended By- corporate records not
laws for release to appli- available in the data-
cant base, the release of the
Certificate of Filing may
vary.
END OF TRANSACTION

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Application for Amendment of Partnerships


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break); Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :

1) Cover Sheet
2) The Amended Articles of Partnership shall be signed by all partners and duly notarized.

If the amendment pertains to the transfer or assignment of interest(s), or the withdrawal, resignation or death of any partner, the document evidencing
said fact shall be submitted in support of the application.

How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Prepares the Amended Arti- As stated in the
cles of Partnership basic requirements
for amendments
2 Submits the Amended Articles Checks the documents if com- 5 minutes Securities
of Partnership for pre- pliant with the Civil Code provi- Specialist
processing. sions on partnership and other
existing laws. If complete, ad-
vises registrant to pay filing fee.
If not, advises applicant to
comply with requirements.

3 Pays filing fee thru cashier’s or Prepares Payment Assessment 1 minute SEC Cashier Registration fee P2,000.00 Payment Assessment
manager’s check SEC Cashier Form plus Legal Research Fee Form/
(LRF) of not less than Official Receipt
P50.00;

For increase of capital:


1/5 of 1% of the increase
in capital but not less
than P2,000.00 plus Legal
Research (LRF) of not less
than P50.00

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STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
4 Files the application to Receiv- After receipt of the application 10-15 minutes CPRD Staff Printed Certificate of
ing Unit, Corporate Filings and by CFRD, the records on file Recording of
Records Division (CFRD) shall be attached and transmit- Amended Articles of
ted to CPRD for the generation Partnership
of the Certificate of Recording
of Amended Articles of Partner-
ship.

5 Asst. Director will review the ap- 5-15 minutes Assistant Di- Certificate of Re-
plication rector cording of Amended
Articles of Partner-
ship.

6 CRMD Director signs the Certifi- 5-15 minutes CRMD Direc- Certificate of Re-
cate tor cording of Amended
Articles of Partner-
ship.

7 Presents Official Receipt to Sorts articles of partnership with Certificate may CFRD Staff None Signed Certificate of
Releasing Unit, CFRD to get Certificate of Recording of the be claimed Recording of
the Certificate of Recording of Amended Articles of Partner- within 2 days Amended Articles of
Amended Articles of Partner- ship for release to applicant from the filing Partnership.
ship. of application
with the Receiv-
ing Unit
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 214


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Conversion of Branch Office to Representative Office (Vice Versa), Regional Area Headquarters
(RHQ) to Regional Operating Headquarters (ROHQ) (Vice Versa), Change/Substitution of Resident
Agent, Withdrawal of License and other Amendments of Foreign Corporations
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :

Petition for Amendment/Conversion of License


1) Authenticated copy of the Board Resolution approving the amendment/conversion
2) Monitoring Clearance
3) Endorsement from the Board of Investments (for RHQ and ROHQ)

Additional Requirements for Amendment for Corporate Name


1) Name Verification Slip
2) Affidavit of a Director/Resident Agent/Local Agent undertaking to change the new corporate name
3) Authenticated copy of Amended Articles of Incorporation/Association/By-laws with an English translation if a foreign language other than English

Additional requirement for Conversion of License to Stock Branch Office (DME) and ROHQ
1) Proof of compliance with the minimum assigned capital/remittance
2) Application form (not required if Petition contains all the items in the prescribed Application Form)

Change of Resident Agent


1) Petition for Change of Resident Agent (RA)
2) Authenticated copy of the Board Resolution approving the change/appointment of RA
3) Acceptance by the new RA (not required if RA is the signatory to the Petition)
4) Monitoring Clearance

Withdrawal of License
1) Petition for withdrawal of License;
2) Authenticated copy of the Board Resolution authorizing the withdrawal of license
3) Audited Financial Statements (AFS)
 as of the last fiscal year
 stamped received by the BIR and SEC
4) List of creditors, if any, and their consent, OR notarized certification as to non-existence of creditors (Note: to be verified against the AFS)
5) Original license issued by SEC
6) Publisher's affidavit evidencing the publication of the notice of withdrawal ( once a week for three [3] consecutive weeks )
7) Endorsement/Clearance from the Board of Investments (for RHQ and ROHQ)
8) Endorsement/Clearance from appropriate government agencies
9) BIR Tax Clearance

Company Registration and Monitoring Department P a g e 215


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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Prepares Petition for conver- As stated in the
sion/withdrawal of license and basic requirements
other documentary require- for conversion/
ments Withdrawal

2 Secures Monitoring Clearance Checks compliance with Within 5 days Securities Spe- Payment of penalties Payment Assess-
reportorial requirements from date of cialist ment Form/ Monitor-
presentation of ing Sheet
complete re-
quirements

3 Submits the Petition for conver- Checks documents if com- 15-30 minutes Securities Spe- None As stated in the
sion/withdrawal of license, pliant with the provisions of cialist basic requirements
Monitoring Clearance and oth- the Corporation Code of for amendments
er documentary requirements the Philippines and other
existing laws. If complete,
advises registrant to pay
filing fee. If not, advises ap-
plicant to comply with re-
quirements

4 Review of CPRD and/or 30 minutes CPRD and/or


FAAD Asst. Director(s) FAAD Asst. Di-
rector(s)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
5 Pays filing fee thru cashier’s or Accepts payment assess- 5 minutes SEC Cashier Conversion of Repre- Official Receipt
manager’s check at SEC Cash- ment form and generates sentative Office to
ier official receipt Branch Office vice versa-
1% of the actual inward
remittance converted
into Philippine currency
but not less than
P5,000.00 plus 1% Legal
Research Fee (LRF)

Conversion of ROHQ to
RHQ vice versa – 1% of
the actual remittance
but not less than 1% of
peso equivalent of
US$200,000 at the time of
remittance

Petition for Amendment


of License of Foreign Cor-
porations and multina-
tional companies –
P3,000.00 plus 1% Legal
Research Fee

Withdrawal of License of
Foreign Corporations and
Multinational corpora-
tions – P3,000.00 plus Le-
gal Research Fee

Petition for appointment/


substitution/revocation of
resident agent - P3,000.00
plus Legal Research Fee

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Amended Articles of In- Official Receipt
corporation and By-laws
of foreign corporations -
P2,000.00 plus Legal Re-
search Fee

6 Files the application to the Re- After receipt of the applica- 5-10 minutes Support Staff/ None
ceiving Unit, Corporate Filings tion, the same shall be for- CPRD Staff
and Records Division (CFRD) warded to the Corporate Fil-
ings and Records Division
(CFRD) for the verification and
production of applicant’s cor-
porate records on file with the
Commission. For corporations
registered from 1996 onwards
whose records are available
in the Commission’s data-
base, production of docu-
ments may take 1 to 2 days.
However, for corporations
whose records are not availa-
ble in the database, produc-
tion of documents may take
longer as the same shall be
secured from the SEC offsite
warehouse.

Thereafter, the application


with the attached records
shall be transmitted to CPRD
for the generation of the Cer-
tificate of Filing of Amended
Articles of Incorporation and/
or By-laws.

CRMD Director reviews and 10-15 minutes CRMD Director Printed License
approves the application

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Presents Official Receipt to Re- Sorts petition and other License may be Support Staff/ None Signed License
leasing Unit, CFRD to get the documentary requirements claimed within CFRD Staff
License of Approval of Amend- together with the license five (5) days
ment from filing of ap-
plication. How-
ever, for corpo-
rate records not
available in the
database, the
release of the
Certificate of
Filing may vary.

END OF TRANSACTION

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Application of Foreign Corporations


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registrant foreign corporation thru their representatives
What are the requirements :
1) Cover Sheet
2) Name Verification Slip
3) Application Form (AF)
a) F-103 – Stock Branch Office (SBO)
b) F-104 – Stock Representative Office (SRO)
c) F-108 – Non-Stock Branch and Representative Office, including Foundations (NBO & NRO)
4) Authenticated copy of the Board Resolution
a) authorizing the establishment of the Branch/Representative Office in the Philippines
b) designating the Resident Agent to whom summons and other legal processes may be served in behalf of the foreign corporation
c) stipulating that in the absence of such Agent or upon cessation of its business in the Philippines, any summons or legal processes may be served to
SEC as if the same is made upon the corporation at its home office
5) Authenticated copy of the Articles of Incorporation/ Partnership / Establishment with an English translation thereof if in a foreign language other than
English
6) Financial Statements (per MC 11 of 2013)
a) For those whose home country requires audited financial statements, the applicant shall submit financial statements:
 for the immediately preceding year at the time of filing of the application
 audited by an independent Certified Public Accountant of the home country
 authenticated before the Philippine Consulate/Embassy

If the date of the AFS exceeds the one-year requirement, the applicant shall submit:
 Authenticated Audited Financial Statements that are available as of date of filing of the application; and
 Authenticated Unaudited Financial Statements (AUFS) as of date not exceeding one (1) year immediately prior to the filing of the applica-
tion signed by an officer of the foreign corporation.

b) For those whose home country does not require audited financial statements, the applicant shall submit:
 Authenticated Unaudited Financial Statements as of a date not exceeding one (1) year immediately prior to the filing of the application; and
 Authenticated Certification signed under oath by an officer of a responsible regulatory institution or by the applicant’s legal counsel that the ap-
plicant is not required to prepare and submit audited financial statements, with citation of the law or regulation on which it is based. (attach the
print out of the law for verification purposes)

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7) Compliance with Financial Ratios


Stock Branch Office
Ratio Formula Benchmark Value
Solvency Total Assets/Total Liabilities 1:1
Liquidity Current Assets/Current Liabilities 1:1
Debt to Equity Total Liabilities/Equity 3:1

Stock Representative Office, Non-Stock Branch Office & Non-Stock Representative Office
Ratio Formula Benchmark Value
Solvency Total Assets/Total Liabilities 1:1

Notes:
(If Solvency Ratio is not within the Benchmark Value: application is rejected)
If Liquidity Ratio and/or Debt to Equity Ratio is/are not within the Benchmark Value/s: Submit PhP1M Surety Bond

8) Notarized proof of inward remittance such as bank certificate of inward remittance or credit advices
9) Affidavit of undertaking to change corporate name (not required if already stated in the AF)
10) Residents Agent’s acceptance of appointment (not required if RA is the signatory to the AF)
11) Indorsement/Clearance from appropriate government agencies
12) Additional Requirements for Foundations
a) Notarized Certificate of Bank Deposit of the amount of not less than PhP1M
b) Statement of willingness to allow the Commission to conduct an audit

Regional Area Headquarters (RHQ) and Regional Operating Headquarters (ROHQ)


1) Name Verification Slip
2) Application Form
3) Certification from the Philippine Consulate/Embassy or the Philippine Commercial Office or from the equivalent office of the Philippine DTI in the appli-
cant's home country that said foreign firm is an entity engaged in international trade with affiliates, subsidiaries or branch offices in the Asia Pacific Re-
gion and other foreign markets; in case the Certification is issued by the equivalent office of the DTI, the same shall be authenticated by the Philippine
Consulate/Embassy
4) Authenticated Certification from principal officer of the foreign entity to the effect that the said foreign entity has been authorized by its board of di-
rectors or governing body to establish its RHQ/ROHQ
5) Affidavit of undertaking to change corporate name (not required if already stated in the AF)
6) Endorsement of the Board of Investments (BOI)
7) Endorsement/Clearance from appropriate government agencies, if applicable

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How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Applicant presents ALL ac- Assigns the application to 5 minutes Support Staff FIA Form 103 –
complished documentary processor SBO
requirements for pre-
processing FIA Form 104 –
SRO

FIA Form 108 -


NBO/NRO

RHQ

ROHQ
2 Applicant waits to be Specialist pre-processes/ 30 minutes Specialist All documentary
called by the Specialist evaluates the application Securities requirements
3 Specialist issues Payment 5 minutes Securities Spe- Filing Fees (FF): Payment Assess-
Assessment Form (PAF) cialist SBO: ment Form
1% of the actual inward re-
mittance converted into
Philippine currency but not
less than P3,000

SRO:
1/10 of 1% of the actual in-
ward remittance converted
into Philippine currency but
not less than P2,000

NBO & NRO:


P3,000

RHQ:
P5,000

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
3 ROHQ:
1% of the actual inward re-
mittance but not less than
1% of peso equivalent of
US$200,000 at the time of
remittance

Legal Research Fee:


For ALL Applications:
1% of the License Fee but
not less than P50.00 shall be
paid at the time of filing
4 Applicant pays license fees Cashier
at the Cashier and files ap-
plication to Receiving Unit, CFRD Support
Corporate Filing and Rec- Staff
ords Division (CFRD)
5 Upon receipt of application 15 minutes Securities Spe- License
from the CFRD, CPRD Sup- cialist Checklist
port prepares the License,
and the Securities Specialist
prepares the Checklist of
Requirements , which con-
tains the financial report for
SBO (Checklist)

6 FAAD and/or CPRD Assistant 1 hour FAAD and/or License


Director(s) evaluates/ CPRD Assistant Checklist
reviews the License and oth- Director(s)
er attached documentary
requirements and initials the
same.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
7 CRMD Director reviews/signs 30 minutes CRMD Director License
the License
8 Applicant claims the Li- CFRD Support License
cense from CFRD Staff
(Official Receipt must be
presented)
END OF TRANSACTION

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Processing Services for Voting Trust Agreements


Schedule of availability of service : Monday, 8:30 AM to 6:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 6:00 PM (no noon break)
Who may avail of the service : Filipino citizen, resident and non-resident aliens, at least 18 years of age
What are the requirements :
1) Voting Trust Agreement
2) Secretary’s Certificate reflecting the list of stockholders and their respective assigned trustee
3) Secretary’s Certificate on no intra corporate dispute
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Prepares Voting Trust As stated in the basic re-
Agreements quirements

2 Submits the Voting Trust Checks the documents if 5 minutes Securities


Agreements for pre- compliant with the Civil Code Specialist
processing. provisions on partnership and
other existing laws. If com-
plete, advises registrant to
pay filing fee. If not, advises
applicant to comply with re-
quirements.

3 Pays filing fee thru Prepares Payment Assessment 1 minute SEC Cashier Voting Trust Agreement Payment Assessment Form/
cashier’s or manager’s Form fee P500.00/agreement; Official Receipt
check SEC Cashier
Plus 1% Legal Research
Fee of not less than
P50.00
4 Files the application to After receipt of the applica- 10-15 minutes CPRD Staff Printed Certificate of Record-
Receiving Unit, Corpo- tion by CFRD, the records on ing of Voting Trust Agree-
rate Filings and Records file shall be attached and ments
Division (CFRD) transmitted to CPRD for the
generation of the Certificate
of Recording of the Voting
Trust Agreements

Company Registration and Monitoring Department P a g e 225


Table of Contents

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
5 The Asst. Director will review 15-30 minutes Asst. Director Printed Certificate of Record-
the application and forward it ing of Voting Trust Agree-
to the CRMD Director for ap- ments and the Voting Trust
proval. CRMD Direc- Agreements
tor

Presents Official Re- Sorts Voting Trust Agreements Certificate CFRD Staff None Signed Certificate of Record-
6 ceipt to Releasing Unit, with Certificate of Recording may be ing of Voting Trust Agree-
CFRD to get the Certifi- of Voting Trust Agreements for claimed within ments
cate of Recording of release to applicant 2 days from the
Voting Trust Agree- filing of appli-
ments cation with the
Releasing Unit
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 226


Table of Contents

Actions (Two [2] Party Complaints/Petitions)


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Natural or juridical persons or entities authorized by law or a party in interest acting through an attorney-in-fact
(SEC Rules of Procedure, Rule 2-2)
What are the requirements :
1) Verified Complaint/Petition (SEC Rules of Procedure, Rule 3-4 and 3-9)
2) Certificate of Non-Forum Shopping (SEC Rules of Procedure, Rule 3-5)
3) Affidavits, Documents, and Other Supporting Documents (SEC Rules of Procedure, Rule 3-14)
4) Monitoring Clearance
5) Docket Fee of Three Thousand Thirty (Php3,030.00) Pesos inclusive of Legal Research Fee (SEC Rules of Procedure, Rule 3-15 in accordance with the
Schedule of Fees forming part of the SEC Rules)
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
Pre-processing
1 Presents complaint/ Receives complaint/ 5 minutes Support staff Verified Complaint/Petition
petition petition for evaluation and supporting documents

2 Assignment for pre- 1 minute CFRD Officer-in-


processing Charge

3 Pre-processing of the com- 1 hour Securities Coun-


plaint / petition / evalua- sel of the CRMD
tion of the formal require-
ments
 if the complaint/ 5 minutes Executive Assis- Payment Assessment Form
petition is complete tant (PAF)
and sufficient in form,
the petition is forward-
ed to the Office of the
Director for the issu-
ance of the Payment
Assessment Form
(PAF) and instructs the
client to pay the
Docket Fee

Company Registration and Monitoring Department P a g e 227


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Pre-processing
3  if the complaint/ 5 minutes Executive Assis- Payment Assessment Form
petition is incomplete tant (PAF)
and insufficient in
form, the complaint/
petition is returned to
the applicant with a
list of requirements not
complied with
4 Proceeds to the Cashier Receives payment and 15 minutes Cashier Php3,020.00 Official Receipt (OR)
for the payment of the issues Official Receipt
Docket Fee

5 Proceeds to the CRMD Receives the complaint/ 15 minutes CRMD Receiving


Receiving Unit petition and the supporting Unit
documents to be forward-
ed to the Office of the Di-
rector for assignment to
Securities Counsel of the
CRMD

6 Complaint/petition official-
ly filed with the CRMD

Complaint/petition is as- 10 minutes Executive Assis-


signed a docket number or tant
case number

Assignment of the com- 2 minutes Director


plaint/petition to a Hearing
Officer (Securities Counsel
of the CRMD)

Company Registration and Monitoring Department P a g e 228


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Proceedings Before the Hearing Officer
7 Summons to the respond- Within Ten (10) Securities Coun-
ent shall be issued ordering days from the sel
respondent to file answer date of the fil-
within fifteen (15) days ing of the com-
from service of summons plaint/petition
(SEC Rules of Procedure,
Rule 4-1)
 if the respondent fails within ten (10)
to answer the com- days from ser-
plaint/petition within vice of the an-
the days prescribed, swer
he shall be considered
in default (SEC Rules of
Procedure, Rule 3-12)
 the complainant may
file a reply (SEC Rules of
Procedure, Rule 3-13)*
 a rejoinder may be within five (5)
submitted (SEC Rules of days from re-
Procedure, Rule 3-13)* ceipt of the re-
ply
*The filing of a reply and
rejoinder may be disal-
lowed (SEC Rules of Proce-
dure, Rule 3-12)

8 The case shall be set for Within ten (10) Securities Coun-
conference (SEC Rules of days after the sel
Procedure, Rule 5-1) last pleading
has been filed,
or upon the ex-
piration of the
period within
which to file the
reply or rejoin-
der
Company Registration and Monitoring Department P a g e 229
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Proceedings Before the Hearing Officer
9 Decision rendered / Order within thirty (30) Securities Coun-
Issued (SEC Rules of Proce- days from sub- sel
dure, Rule 6-1) mission for reso-
lution
10 Finality of the Decision (SEC Within fifteen
Rules of Procedure, Rule 6- (15) days from
2) notice of the
decision
The Decision shall be en- Executive Assis-
tered in the Book of Entry tant
of Judgments (SEC Rules of
Procedure, Rule 6-2-)
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 230


Table of Contents

Petition for Correction


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Natural or juridical persons or entities authorized by law or a party in interest acting through an attorney-in-fact
(SEC Rules of Procedure, Rule 2-2)
What are the requirements :
1) Verified Petition (SEC Rules of Procedure, Rule 3-4 and 3-9)
2) Certificate of Non-Forum Shopping (SEC Rules of Procedure, Rule 3-5)
3) Affidavits, Documents, and Other Supporting Documents (SEC Rules of Procedure, Rule 3-14)
4) Corrected Articles of Incorporation
5) Monitoring Clearance
6) Docket Fee of Three Thousand Thirty (Php3,030.00) Pesos inclusive of Legal Research Fee (SEC Rules of Procedure, Rule 3-15 in accordance with the
Schedule of Fees forming part of the SEC Rules)
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
Pre-processing
1 Presents petition Receives petition for evaluation 5 minutes Support Staff Verified pe-
tition and
supporting
documents
2 Assignment for pre-processing 1 minute CFRD Officer-
in-Charge

3 Pre-processing of the petition/evaluation of the formal 1 hour Securities


requirements Counsel of
the CRMD
 if the petition is complete and sufficient in form, the 5 minutes Payment
petition is forwarded to the Office of the Director for Executive As- Assessment
the issuance of the Payment Assessment Form (PAF) sistant Form (PAF)
and instructs the client to pay the Docket Fee
 if the petition is incomplete and insufficient in form,
the petition is returned to the applicant with a list of
requirements not complied with

4 Proceeds to the Cashier Receives payment and issues Official Receipt 15 minutes Cashier Php3,020.00 Official Re-
for the payment of the ceipt (OR)
Docket Fee
Company Registration and Monitoring Department P a g e 231
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
Pre-processing
5 Proceeds to the CRMD Receives the petition and the supporting documents to 15 minutes CRMD Receiv-
Receiving Unit be forwarded to the Office of the Director for assign- ing Unit
ment to Securities Counsel of the CRMD

6 Petition officially filed with the CRMD

Petition is assigned a docket number or case number 10 minutes Executive As-


sistant

Assignment of the petition to a Hearing Officer 2 minutes Director


(Securities Counsel of the CRMD)

Proceedings Before the Hearing Officer


7 Order Issued (SEC Rules of Procedure, Rule 6-1) within thirty (30) Securities
days from sub- Counsel
mission for reso-
lution

8 Finality of the Decision (SEC Rules of Procedure, Rule 6- Within fifteen


2) (15) days from
notice of the
decision

The Decision shall be entered in the Book of Entry of Executive As-


Judgments (SEC Rules of Procedure, Rule 6-2) sistant
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 232


Table of Contents

Application for Licensing of Financing Companies


Head Office/Branch Office (Including replacement of Certificate of Authority due to amendment of corporate name and/or principal office address)

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations organized in accordance with the provisions of Republic Act No. 8556 The Financing
Company Act of 1998
What are the requirements :

1) All documents required for registration as a corporation


2) Cover Sheet
3) Application Form
4) Information sheet of registrant company
5) Personal Information Sheet of Directors and Officers
6) For Filipino Directors and Officers: Clearance from the National Bureau of Investigation (NBI)
7) For Foreign Directors and Officers:
a) Photocopy of Alien Certificate of Registration or Immigration Certificate of Registration;
b) Photocopy of passport showing valid visa or stay in the Philippines; and
c) Clearance from the Bureau of Immigration (BI)
8) Clearance from the Bangko Sentral ng Pilipinas, if the applicant is a subsidiary or affiliate of a bank and/or non-bank financial institution with quasi-
banking license
9) Manual on Corporate Governance:
a) If foreign participation in voting stock is more than 40%; or
b) If total assets is PhP50M or more; or
c) If commercial paper issuer, either exempt or registered
10) Manual on Anti-Money Laundering:
a) If foreign participation in voting stock is more than 40%; or
b) If total assets is PhP10M or more
11) Board Resolution on the adoption of the Manual/s
12) Format of Disclosure Statement on Loan/Credit Transactions
13) Notarized Bank Certificate of Deposit of the Paid-up Capital

Company Registration and Monitoring Department P a g e 233


Table of Contents

How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Presents documents for Checks completeness of the 5 minutes Officer of the  Articles of Incorporation
evaluation/processing documents and takes the Day and By-Laws
application to the Assistant  Cover Sheet
Director (AD)/Officer-in-  Application Form
Charge (OIC) for assignment  Company’s Information
Sheet
 Personal Information Sheet
of Directors and Officers
2 Assigns the application to a 1 minute AD/OIC
Specialist

3 Records assignment 1 minute Clerk

4 Waits to be called by Processes/evaluates the ap- 1 hour Specialist


the Specialist plication

(In case of deficiency, the


applicant is given a checklist
citing the deficiency; appli-
cation is returned to the ap-
plicant for compliance)

5 Prepares the Memorandum 1 hour Specialist


for the Commission En Banc

6 Reviews the application and 1 hour AD/OIC


the Memorandum

(In case of any finding, the


license and application are
returned to the processor for
appropriate action)

Company Registration and Monitoring Department P a g e 234


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Reviews and approves the 30 minutes Director
Memorandum and the issu-
ance of Payment Assess-
ment Form (PAF)

(In case of any finding, the


license and application are
returned to Licensing Unit for
appropriate action)
8 Pays the assessed fees Issues the PAF 5 minutes Specialist Primary License PAF
1/5 of 1% of the authorized
capital stock or the sub-
scription price of the sub-
scribed capital stock
whichever is higher but not
less than P2,000 + Legal Re-
search Fee (LRF)

Secondary License
Head Office: 1/10 of 1% of
the paid-up capital + LRF

Branch/Agency/ Extension/
Unit: 1/10 of 1% of the capi-
tal of the branch, satellite,
extension or unit + LRF

Amendment of Certificate
of Authority
Head Office: P500 + LRF
Branch Office: P500 + LRF

*LRF: 1% of the Registration/


Filing Fee but not less than
P50
Company Registration and Monitoring Department P a g e 235
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
9 Upon receipt of application 30 minutes Specialist
documents from the CRMD-
CFRD, re-evaluates the ap-
plication and finalizes the
Memorandum

(In case of deficiency, the


applicant is immediately in-
formed)

10 Reviews and initials the 15 minutes AD/OIC


Memorandum

(In case of any finding, the


license and application are
returned to the processor for
appropriate action)

11 Reviews, signs and forwards 15 minutes Director


the Memorandum to the En
Banc, through the Supervis-
ing Commissioner

(In case of any finding, the


license and application are
returned to Licensing Unit for
appropriate action)

12 Deliberates on/approves the 30 minutes Commission


application En Banc

(In case of any finding, the


Memorandum and applica-
tion is returned to CRMD for
appropriate action)

Company Registration and Monitoring Department P a g e 236


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
13 Upon receipt of the ap- 5 minutes Specialist
proved application from the
En Banc, prepares the Certif-
icate of Authority

14 Reviews and initials the Cer- 10 minutes AD/OIC


tificate of Authority

(In case of any finding, the


license and application are
returned to the processor for
appropriate action)

15 Claims the Certificate of Reviews and signs the Certifi- 10 minutes Director
Authority cate of Authority

(In case of any finding, the


license and application are
returned to Licensing Unit for
appropriate action)

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 237


Table of Contents

Application for Licensing of Lending Companies


Head Office/Branch Office (Including replacement of Certificate of Authority due to amendment of corporate name and/or principal office address)

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations organized in accordance with the provisions of Republic Act No. 9474 Lending Company
Regulation Act of 2007
What are the requirements :
1) All documents required for registration as a corporation
2) Cover Sheet
3) Application Form
4) Information sheet of registrant company
5) For Filipino Directors and Officers: Clearance from the National Bureau of Investigation (NBI)
6) For Foreign Directors and Officers:
a) Photocopy of Alien Certificate of Registration or Immigration Certificate of Registration;
b) Photocopy of passport showing valid visa or stay in the Philippines; and
c) Clearance from the Bureau of Immigration (BI)
7) Manual on Anti-Money Laundering:
a) If foreign participation in voting stock is more than 40%; or
b) If total assets is PhP10M or more
8) Board Resolution on the adoption of the Manual
9) Notarized Bank Certificate of Deposit of the Paid-up Capital
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1 Presents all documen- Checks completeness of the docu- 5 minutes Officer of  Registration docu-
tary requirements for ments and takes the application to the Day ments (i.e., Articles and
pre-processing/ the Assistant Director (AD)/Officer-in By-Laws, Treasurer’s
evaluation -Charge (OIC) for assignment Affidavit, Undertaking
to Change Name)
 Cover Sheet
 Application Form
 Information Sheet
2 Assigns the application to a Special- 1 minute AD/OIC
ist
Company Registration and Monitoring Department P a g e 238
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3 Records assignment 1 minute Clerk

4 Waits to be called by Processes/evaluates the application 30 minutes Specialist


the Specialist (In case of deficiency, the applicant
is given a checklist citing the defi-
ciency; application is returned to
the applicant for compliance)

5 Reviews the application and ap- 30 minutes AD/OIC


proves issuance of Payment Assess-
ment Form (PAF)
(In case of any finding, the license
and application are returned to the
processor for appropriate action)

6 Pays the assessed fees Issues the PAF 5 minutes Specialist Primary License PAF
1/5 of 1% of the authorized capital
stock or the subscription price of the
subscribed capital stock whichever
is higher but not less than P2,000 +
Legal Research Fee (LRF)

Secondary License
Head Office: 1/10 of 1% of the paid-
up capital + LRF

Branch/Satellite/ Extension/Unit: 1/10


of 1% of the capital of the branch,
satellite, extension or unit + LRF

Amendment of Certificate of Au-


thority
Head Office: P500 + LRF
Branch Office: P500 + LRF

*LRF: 1% of the Registration/Filing Fee


but not less than P50
Company Registration and Monitoring Department P a g e 239
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Upon receipt of application docu- 10 minutes Specialist
ments from the CRMD-CFRD, re-
evaluates the application and pre-
pares the Certificate of Authority
(In case of deficiency, the applicant
is immediately informed)

8 Reviews and initials the Certificate 10 minutes AD/OIC


of Authority
(In case of any finding, the license
and application are returned to the
processor for appropriate action)

9 Claims the Certificate of Reviews and signs the Certificate of 10 minutes Director
Authority Authority
(In case of any finding, the license
and application are returned to Li-
censing Unit for appropriate action)

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 240


Table of Contents

Application for Registration of Capital Market Institutions


Investment Houses/Underwriter of Securities/Broker Dealer/Broker Only/Dealer Only/Investment Company Advisers/Transfer Agents/Mutual Fund Distributors
(Including amendments)

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Companies intending to be registered as capital market institutions under Republic Act No. 8799
(Securities Regulation Code), Presidential Decree No. 129 (Investment Houses Law) and Republic Act
No. 2629 (Investment Company Act)
What are the requirements : Please refer to the attached Checklist of Requirements for each institution . The checklist may also be secured
from the website or from the Licensing Unit’s officer of the day.
Annex A – Mutual Fund Distributor
Annex B – Broker Dealer in Securities
Annex C – Investment Company Adviser
Annex D – Investment House/Underwriter of Securities
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1 Presents documents for Checks completeness of the docu- 5 minutes Officer of the  SEC Form MFD
evaluation/ ments and takes the application to Day  SEC Form 28-BD
processing the Assistant Director (AD)/Officer-in-  SEC Form 36-TA
Charge (OIC) for assignment  SEC Form ICA-IA
 SEC Form IHU-A
 SEC Form IH-BO
2 Assigns the application to a Counsel 1 minute AD/OIC

3 Records assignment 1 minute Clerk

4 Waits to be called by Evaluates the application 2 hours Counsel/


the Specialist Specialist
(In case of deficiency, the applicant is
given a checklist citing the deficien-
cy; application is returned to the ap-
plicant for compliance)

5 Prepares the Memorandum for the 1 hour Counsel/


Commission En Banc Specialist

Company Registration and Monitoring Department P a g e 241


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
6 Reviews the application and the 2 hours AD/OIC
Memorandum
(In case of any finding, the license
and application are returned to the
processor for appropriate action)

7 Reviews and approves the Memoran- 2 hours Director


dum and the issuance of Payment
Assessment Form (PAF)
(In case of any finding, the license
and application are returned to Li-
censing Unit for appropriate action)

8 Pays the assessed fees Issues the PAF 5 minutes Counsel/  Mutual Fund Distributor: PAF
Specialist P5,000 + LRF
 Brokers/Dealers (Main Office):
P75,000 + LRF
 Broker (Main Office): P40,000
+ LRF
 Dealer (Main Office): P40,000
+ LRF
 Broker/Dealer Branch Office:
P10,000 + LRF
 Investment House/ Underwrit-
er: P75,000 + LRF
 Investment House/Underwriter
with GSED: P75,000 + LRF
 Investment House Branch Of-
fice: P10,000 + LRF
 GSED: P75,000 + LRF
 Investment Company Adviser:
P15,000 + LRF
 Transfer Agents: P10,000 + LRF

 *LRF: 1% of the Registration/


Filing Fee but not less than
P50

Company Registration and Monitoring Department P a g e 242


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
9 Upon receipt of application docu- 1 hour Counsel/
ments from the CRMD-CFRD, re- Specialist
evaluates the application and finaliz-
es the Memorandum
(In case of deficiency, the applicant is
immediately informed)

10 Reviews and initials the Memorandum 1 hour AD/OIC


(In case of any finding, the license
and application are returned to the
processor for appropriate action)

11 Reviews, signs and forwards the 30 minutes Director


Memorandum to the En Banc,
through the Supervising Commissioner
(In case of any finding, the license
and application are returned to Li-
censing Unit for appropriate action)

12 Deliberates on/approves the applica- 30 minutes Commission


tion En Banc
(In case of any finding, the Memoran-
dum and application is returned to
CRMD-LU for appropriate action)

13 Upon receipt of the approved appli- 5 minutes Counsel/


cation from the En Banc, prepares the Specialist
Certificate of Registration

14 Reviews and initials the Certificate of 30 minutes AD/OIC


Registration
(In case of any finding, the license
and application are returned to the
processor for appropriate action)

Company Registration and Monitoring Department P a g e 243


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
15 Claims the Certificate of Reviews and signs the Certificate of 30 minutes Director
Registration Registration
(In case of any finding, the license
and application are returned to Li-
censing Unit for appropriate action)

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 244


Table of Contents

Application for Registration of Capital Market Professionals


Associated Persons/Compliance Officers/Salesmen/Certified Investment Solicitors (Including replacement of Certificate of Registration due to amendment of
corporate name of institution)

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Individuals intending to be registered as capital market professionals under Republic Act No. 8799
(Securities Regulation Code), Presidential Decree No. 129 (Investment Houses Law) and
Republic Act No. 2629 (Investment Company Act)
What are the requirements :

1) Cover Sheet
2) Application Forms (SEC Form 28-S, SEC Form 28-AP, SEC Form IHU/GSED-CO-AP, SEC Form ICA-CO, SEC Form ICA-CIS) verified under oath by the
employer
3) If an applicant is a foreigner, certified true copy of valid work permit duly issued by the Department of Labor and Employment (DOLE) or any ap-
propriate agency
4) Copies of identity cards/passports of applicant
5) Evidence, preferably a certified true copy, that such person has complied with applicable examination requirements and/or meets other educa-
tional, professional or technical qualifications
6) Written evidence that the employer has agreed to employ such person contingent upon such person’s registration as capital market professional

How to avail of the service :


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Presents documents for Checks completeness of the docu- 5 minutes Officer of  SEC Form 28-S
evaluation/processing ments and takes the application to the Day  SEC Form 28-AP
the Assistant Director (AD)/Officer-in-  SEC Form IHU/
Charge (OIC) for assignment GSED-CO-AP
 SEC Form ICA-CO
 SEC Form ICA-CIS
2 Assigns the application to a Specialist 1 minute AD/OIC

3 Records assignment 1 minute Clerk

Company Registration and Monitoring Department P a g e 245


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
4 Waits to be called by Evaluates the application 15 minutes Specialist
the Specialist
(In case of deficiency, the applicant
is given a checklist citing the deficien-
cy; application is returned to the ap-
plicant for compliance)

5 Reviews the application and ap- 15 minutes AD/OIC


proves issuance of Payment Assess-
ment Form (PAF)

(In case of any finding, the license


and application are returned to the
processor for appropriate action)

6 Pays the assessed fees Issues the PAF 5 minutes Specialist  Associated Person/ PAF
Compliance Officer:
P3,000 + Legal Research
Fee (LRF)
 Salesman: P2,000 + LRF
 Certified Investment So-
licitor: P2,500 + LRF
 Investment Company
Adviser/Compliance
Officer: P3,000 + LRF

*LRF: 1% of the Registra-


tion/Filing Fee but not less
than P50

Company Registration and Monitoring Department P a g e 246


Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Upon receipt of application docu- 5 minutes Specialist
ments from the CRMD-CFRD, re-
evaluates the application and pre-
pares the Certificate of Authority

(In case of deficiency, the applicant


is immediately informed)

8 Reviews and initials the Certificate of 10 minutes AD/OIC


Authority

(In case of any finding, the license


and application are returned to the
processor for appropriate action)

9 Claims the Certificate of Reviews and signs the Certificate of 10 minutes Director
Authority Authority

(In case of any finding, the license


and application are returned to Li-
censing Unit for appropriate action)

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 247


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Request for Regular Monitoring of Domestic Corporations (Ordinary Stock and Non-Stock)
*Except foundations, publicly listed corporations and corporations with secondary license

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General transacting public for:
a) Registered corporations;
b) Revoked corporations;
c) Corporations with Notice of Deficiencies and Hearing or Orders; and
d) Corporations with applications to be filed with the Corporate and Partnership Registration Division, Financial
Audit and Analysis Division and Corporate Filing and Records Division
What are the requirements :
1) Latest due Financial Statements and any amendments thereto (duly stamped received by BIR and SEC)
2) Latest due General Information Sheet and any amendments thereto (duly stamped received by BIR and SEC)
3) Copies of Certificate of Incorporation and latest Certificate of filing of Amended Articles or By-laws (if any) together with copies of the latest Arti-
cles of Incorporation and By-laws
4) Copy of Registration of Stock and Transfer Book/Membership Book
5) Other documents (per monitor’s instructions)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON FEES FORM


ACTIVITY IN
(under normal CHARGE
circumstances)
1 Provides request form with 2 mins. Officer of N/A Request Form with Checklist
checklist the Day

2 Submits filled-up “Request Pre-evaluates required docu- 10 mins. Officer of Request Form with Checklist
for Monitoring” and the ments. the Day and required documents.
required documents. a) If documents are not
complete, the same are
returned together with the
checklist of the require-
ments;
b) If documents are com-
plete the request is ac-
cepted and issues an
acknowledgement re-
ceipt with date of return
indicated therein.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON FEES FORM


ACTIVITY IN
(under normal CHARGE
circumstances)
3 Prints system generated Doc- 5 mins. Support Document Index List
ument Index List (DIL). Staff

4 Assigns DIL with attached 2 mins. Support


documents to a particular Staff
monitor/analyst .

5 Determines compliance, de- 30-45 mins. on Monitor Guidelines on the Imposition Monitoring Sheet
ficiencies and violations, average of fines or penalties for non-
and prepares the Monitoring compliance with reportorial
requirements; Memoran-
Sheet (MS).
dum Circular No. 8, series of
2009 (MC8-2009); Amended
rules governing the distribu-
tion of excess profits of cor-
poration; Memorandum
Circular No. 8, Series of 1998
(MC8-1998); and Office Or-
der No. 298, Series of 2010.
6 Returns on assigned day, Presents the findings to the 15 mins. Monitor
and if is agreeable to the applicant.
findings presented, signs
the MS . If there are no deficiencies,
the MS prepared by the Moni-
tor will indicate such finding
and will be directly submitted
to the Assistant Director/
Officer-in-Charge for review
and signing.

Note: If applicable, clarifica-


tions and further compliance
may be required by the moni-
tor prior to the release of the
MS.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON FEES FORM


ACTIVITY IN
(under normal CHARGE
circumstances)
7 Prepares and issues the Pay- 5 mins. Monitor Payment Assessment Form
ment Assessment Form (PAF).

8 Pays the assessed fines Applicant

Note: Applicant with re-


quest for reduction or pay-
ment in installment of fines,
the procedure for reduc-
tion of fines or payment in
installment will be followed.

9 Presents machine- Receives the PAF together 5 mins. Support PAF


validated PAF with the other documents Staff
and indicates date of the
release of the Confirmation
of Payment of Fines (COP)

10 Prepares the COP 5 mins. Support Confirmation of Payment of


Staff Fines

11 Review and signs the COP or 10 mins. Assistant


MS, if without penalty. Director/
Officer-in-
If upon review, there are de- Charge
termined deficiencies/
corrections, it will be returned
to the applicant until the
same has been complied
with.

12 Returns on assigned day Releases the COP and MS 2 mins. Support


Staff
END OF TRANSACTION

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Request for Regular Monitoring of Foreign Corporations (Branch Offices, Representative


Offices , Regional Area Headquarters and Regional Operating Headquarters)
*Except foundations

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Walk-in applicants for:
a) Licensed foreign corporations;
b) Revoked foreign corporations;
c) Foreign corporations with Notice of Deficiencies and Hearing or Orders; and
d) Foreign corporations with applications to be filed with the Corporate and Partnership Registration Division
What are the requirements :
1) Latest due Financial Statements and any amendments thereto (duly stamped received by BIR and SEC)
2) Latest due General Information Sheet and any amendments thereto (duly stamped received by BIR and SEC)
3) SEC License and Application
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Provides request form with checklist 2 mins. Officer of Request form with
the Day checklist
2 Presents filled –up Pre-evaluates required documents. 10 mins. Officer of
“Request for Monitor- a. If documents are not complete, the the Day
ing” and required docu- same are returned with the checklist of
ments. the requirements
b. If documents are complete the
“Officer of the Day” accepts the request
for monitoring

3 Prints system generated Document Index 5 mins. Support Document Index


List (DIL). Staff List

4 Determines compliance, deficiencies and 30 – 45 mins. Monitor Memorandum Circular Monitoring Sheet
violations, and prepares the Monitoring No. 15, series of 2006
Sheet (MS). (Including compliance with Se- (MC15-2006); and
curities Deposit* and Inward Remittance in MC8-2009
case of branch offices, and Regional Oper-
ating Headquarters (ROHQ) and Regional
headquarters (RHQ), respectively)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
5 Reviews findings of the Monitor. 15 mins. Specialist/
Counsel
6 If agreeable to the find- Presents the findings to the applicant. 10 mins. Monitor
ings presented, signs the
MS. Note: If there are no deficiencies, the MS
indicating such finding will be directly sub-
mitted to the Assistant Director/Officer-in-
Charge for review and signing.

7 Prepares the Payment Assessment Form 5 mins. Monitor Payment Assess-


(PAF). ment Form
8 Pays assessed fines Applicant

9 Presents the PAF with Receives the PAF together with the other 5 mins. Support
cashier’s validation documents and indicates date of the re- Staff
lease of the Confirmation of Payment of
Fines (COP)

10 Prepares the Confirmation of Payment of 5 mins. Monitor Confirmation of


Fines (COP) Payment of Fines

11 Reviews and signs the COP or MS, if with- 10 mins. Assistant


out penalty. Director/
Officer-in-
If upon review, there are determined defi- Charge
ciencies/corrections, it will be returned to
the applicant until the same has been
complied with.

12 Returns on assigned day Release of the COP and MS. 2 mins. Support
Note: In case of Securities Deposit, the Certifi- Staff
cate of the deposit of securities (Initial, Substi-
tution and Additional) is issued to the foreign
corporation upon compliance.

END OF TRANSACTION
Company Registration and Monitoring Department P a g e 252
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Process Compliance with Securities Deposit


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Foreign Branch Offices (stock corporations)
What are the requirements :
1) Copy of latest Certificate of Securities Deposit (if any); and
2) Four (4) sets of the following:
a) Cover Sheet
b) Notarized cover letter requesting for the acceptance of securities deposit signed by the Resident Agent or any authorized representative
c) Photocopy of Confirmation of Sale (in case of Treasury Bill) or original copy if Government Bonds
d) Original copy of Proof of Earmarking of Treasury Bills in favor of SEC
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN CHARGE FEES FORM
ACTIVITY
(under normal
circumstances)
1 Submits the documen- Checks the completeness of requirements 10 mins. Monitor
tary requirements
(If documents are incomplete or non-
compliant, the same are returned with the
checklist of the requirements)

2 Steps 3 to 6 of the monitoring of Foreign Corpo-


rations will be followed.

3 Computes for the required securities deposit 15 mins. Monitor Memorandum


based on its latest due AFS Circular No. 2,
series of 2012
Note: a) In case of foreign airline companies (MC2-2012)
the Corporation must submit a Modified Formu-
la Computation for the computation of the re-
quired securities deposit (Sec. 5, Memorandum
Circular #2, series of 2012);

b) Computation is done simultaneously with the


monitoring of the Foreign branch office.

4 Prepares and issues the Payment Assessment 5 mins. Monitor


Form

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN CHARGE FEES FORM


ACTIVITY
(under normal
circumstances)
5 Pays custodian/ Applicant
monitoring fee
6 Prepares report of the securities deposit 10 mins. Monitor

7 Reviews the report of the securities deposit 5 mins. Specialist/ Counsel

8 Prepares and generates Certificate of Securities 5 mins. Monitor


Deposit

9 Reviews the generated Certificate of Securities 10 mins. Assistant Director/


Deposit Officer-in-Charge

10 Transmits the Certificate of Securities of Deposit 2 mins. Support Staff


to the Office of the Director for signing

11 Transmits the following documents to the Finan-


cial Management Department for safekeeping:
 AR Bonds
 Stock Certificates
 Other non-scripless securities

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 254


Table of Contents

Petition to Lift Order of Revocation/Suspension


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations whose certificates of registration were revoked or suspended by the Commission for failure to
comply with the reportorial requirements and whose corporate term has not yet expired
What are the requirements : Pursuant to Memorandum Circular No. 5, series of 2016
1) Verified petition to set aside the Order of Revocation or Suspension
2) Director’s or Trustee’s Certificate
3) Latest due Audited Financial Statements
4) Latest due General Information Sheet
5) Copies of Certificate of Incorporation and latest Certificate of filing of Amended Articles or By-laws (if any) together with latest Articles of
Incorporation and By-laws
6) Copy of registration of stock and transfer book or membership book
7) Secretary’s Certificate of No Intra Corporate Controversy
8) Sworn Certifications by the auditor
9) Proofs of operation for each year, starting from the date of revocation or date of incorporation (for a suspension order) up to the time of the filing
of the petition
10) Payment of penalties/fines imposed after monitoring
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1 Presents the request form Checks the completeness of require- 10 mins. Request form
and documentary require- ments. Monitor with Checklist
ments and documen-
If documents are incomplete or non- tary require-
compliant, the same are returned with ments
the checklist of the requirements.

2 Assigns the Petition. 2 mins. Assistant Direc-


tor / Officer-in-
Charge
3 Steps 5 to 7 of the regular monitoring will
be followed

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
4 Pays the Petition Fee and Applicant P3,000 petition
Legal Research Fee together fee
with the fines/penalties im-
posed thereon plus

Note: Applicant with request Legal Research


for reduction or payment in Fee: 1% of Filing
installment of fines, the pro- Fee but not less
cedure for reduction of fines than Fifty Pesos
or payment in installment will (P50.00) shall be
be followed. paid at the time
of filing
5 Dockets the Case 2 mins. Staff

6 Reviews the Petition to lift Order of Rev- 30 mins. Specialist/


ocation and the attachments Counsel

7 Prepares the draft Order setting aside 15 mins. Specialist/


the Order of Revocation or Suspension Counsel

Note: if applicable, Summons and Clari-


ficatory Conferences may be issued/
held at any time and the process will be
held in abeyance until after the issues
have been settled or complied with.

8 Reviews the draft Order 15 mins. Assistant Direc- Draft Order


tor/ Officer-in-
Charge

9 Reviews and approves the draft order 5 mins. CRMD Director

10 Prepares the final Order 5 mins. Specialist/


Counsel

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
11 Routes the Order to the Commission En 5 mins. CRMD Director Final Order
Banc for signing.

12 The Chairperson and Commissioners varies Commission En


sign the Order Banc

13 Receives the Order 2 mins. Support Staff

14 Prepares the transmittal letter 5 mins. Specialist/


Counsel

15 Reviews the transmittal letter 5 mins. Assistant Direc- Transmittal letter


tor / Officer-in-
Charge

16 Signs the transmittal letter 5 mins. CRMD Director

17 Mails the Order 5 mins. Support Staff

END OF TRANSACTION

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Request for Payment in Installment or Reduction of Fines


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : a) Non-stock corporations for reduction of fines; and
b) Stock and Non-stock corporations for installment of fines
What are the requirements :
1) Written request for the reduction of fines or payment in installments
2) Copy of the Monitoring Sheet with the final assessment
3) Copy of the latest due Financial Statements
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1 Sends letter requesting for reduction or Applicant
instalment payment of fines together
with the attachments.

2 Assigns the letter-request. 2 mins. Assistant Director/


Officer-in-Charge

3 Reviews the request if it will qualify for re- 15 mins. Assigned Monitor/
duction or installment payment. Specialist

4 Prepares memorandum to the Commis- 5 mins. Assigned Monitor/


sion En Banc. Specialist

However, corporations with Petition to Lift


Order of Revocation/Suspension and re-
questing for payment in installment, the
memorandum will be addressed to the
Supervising Commissioner.

5 Reviews and signs the memorandum. 10 mins. CRMD Director

6 Presents the request to the Commission en Varies En Banc


banc or Supervising Commissioner as the
case may be, for approval.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7 Secures a copy of the resolution. Varies Support Staff

8 Prepares the draft letter Informing the ap- 10 mins. Assigned Monitor/
plicant about the decision of the En banc Specialist
or Supervising Commissioner.

9 Reviews the draft letter 10 mins. Assistant Director/


Officer-in-Charge
10 Approves and signs the letter 5 mins. CRMD Director

11 Mails the letter 5 mins. Support Staff

12 Pays the reduced fines or payment of Steps 7 to 11 of the regular monitoring will Monitor
the first installment. be followed.

Note: Assigned monitor will check Applicant


monthly compliance of the particular
corporation on their staggered pay-
ments.
13 Returns on assigned day Releases the COP 2 mins. Support Staff

Note: A) For corporations with installment,


Confirmation of Payment is issued only
upon full payment.

B) For corporations with petitions to set


aside the Order of Revocation or Suspen-
sion, the COP and the Order granting the
petition shall be withheld until full pay-
ment by of the total fines.

14 Reviews and signs the Confirmation of 5 mins. Assistant Director/


Payment. Officer-in-Charge

15 Releases the Confirmation of Payment. 2 mins. Support Staff

END OF TRANSACTION
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Monitoring of Corporations where there is more than one set of General Information Sheet (GIS)
filed with the Commission
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements : None
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Submits request for monitoring Determines and verifies that there is more 15 – 30 mins. Monitor N/A N/A
than one set of GIS filed with the Commis-
sion by two or more different groups.

Note: Monitoring will be deferred

2 Assigns the case 5 mins. Assistant Direc-


tor/Officer-in-
Charge

3 Prepares the Notice for a Clarficatory Con- 10 mins. Assigned Spe-


ference addressed to the different groups. cialist/ Counsel

4 Representatives from the different


groups answers or appears on the
scheduled conference
5 Determines that there is an existence of an 30 mins. Assigned Spe-
intra-corporate issue, prepares the draft or- cialist/ Counsel
der recommending that the GIS in question
be marked as disputed.

Note: monitoring shall continue to be de-


ferred until the dispute is resolved by appro-
priate courts.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
6 Reviews the draft order 15 - 30 mins. on Assistant Direc-
an average tor/Officer-in-
Charge

7 Further reviews, approves and/or signs the 30–45 mins. on CRMD Director
Order an average but
may vary on
the complexity
of the issue/s

8 Mails and transmits the Order to the parties, 10 mins. Support Staff
Corporate Filing and Records Division and
the Electronic Records Management Divi-
sion. The same shall also be entered in the
Certification Issuance System – Unified Ref-
erence Database

Note: Monitoring will be deferred

END OF TRANSACTION

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Process Compliance with SEC Memorandum Circular no. 14, series of 2013 (Guidelines Covering
the use of properties that require Ownership Registration as Paid-Up Capital)
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements :
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM
(under normal circum- CHARGE
stances)
1 Presents at the Compli- a) Examines certificate/s or Five (5) minutes per certifi- Securities
ance Monitoring Division new title/s in the name of cate or title Counsel/
(CMD) proof/s of transfer the transferee corporation, Securities
of certificate/s of owner- verifying against the original Specialist
ship in the name of the documents
transferee corporation b) Endorses to the SEC receiv-
ing section if the new titles
are valid and in accordance
with law

2 Transferee corporation Receives transmittal letter and Receiving Transmittal letter for the
presents new certificates the new titles and certificates of Clerk Certificates or new titles of
or titles to the SEC receiv- ownership and forwards to the property in the name of the
ing section, with transmit- CRMD Director. transferee corporation
tal letter stamped received by the
SEC.
3 Forwards certificates or new ti- Five (5) minute CRMD Direc-
tles to CMD for evaluation and tor
confirmation

4 Assigns certificates or new titles One (1) minute Assistant Di-


to Securities Counsel/ Securities rector/ Of-
Specialist ficer-in-
Charge

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN FEES FORM


(under normal circum- CHARGE
stances)
5 Prepares draft letter/s confirming Fifteen (15) to sixty (60) Securities Draft of Confirmation Letter.
that proof/s of transfer of owner- minutes or variable de- Counsel/
ship of the property in the name pending on the number of Securities
of the transferee corporation/s titles and volume of sup- Specialist
is/are compliant with SEC rules porting documents to be
and regulations. examined

6 Reviews draft of confirmation Ten (10) to thirty (30) Assistant Di- Final Draft of Confirmation
letter and if sufficient, forwards minutes or variable de- rector/ Letter
to the CRMD Director pending on the number of Officer-in-
titles and volume of sup- Charge
porting documents

7 Approves and signs confirmation Ten (10) to Twenty (20) CRMD Direc- Confirmation letter that cor-
letter minutes depending on the tor poration is compliant with
number of titles and vol- SEC MC No. 14, series of 2013
ume of supporting docu- duly signed by the CRMD
ments Director

END OF TRANSACTION

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Petition for Cancellation or Substitution of Payment in relation to the use of properties that require
Ownership Registration as Paid-Up Capital (SEC Memorandum Circular no. 14, series of 2013)
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Transacting Public
What are the requirements :
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1 Presents verified petition for Examines petition Ten (10) to fif- Securities Coun-
substitution of payment or teen (15) sel/ Securities
cancellation of the related Stamps OK for payment if Peti- minutes Specialist
application using property as tion is sufficient in form and
paid-up capital substance

2 Issues Payment Assessment Two (2) minutes Executive Assis- P2,000.00 PAF
Form (PAF). per petition tant or Clerk plus
under the Legal Research Fee:
CRMD Director 1% of Filing Fee but
not less than Fifty
Pesos (P50.00) shall
be paid at the time
of filing
3 Initials PAF Five (5) seconds Securities Coun- Initialed PAF
sel/ Securities
Specialist and
Executive Asst.
or Clerk

4 Pays the Petition Fee at the Issues Official Receipt and ma- Five (5) seconds SEC Cashier Official Receipt issued
Cashier chine validates the PAF with to petitioner-
the amount paid, date and corporation and PAF
time of payment machine validated

5 Receives Petition and forwards Five (5) minutes Receiving Clerk


to the CRMD Director

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
6 Assigns to Securities Counsel/ Ten (10) minutes CRMD Director
Securities Specialist for appro-
priate action

7 Reviews the Petition Twenty minutes Securities Coun-


or variable, de- sel/ Securities
pending on the Specialist
complexity of
the Petition

8 Endorses to Financial Analysis Thirty (30) Securities Coun- Memorandum to FAAD


and Audit Division (FAAD), if minutes sel/ Securities
necessary Specialist

9 Evaluates and Prepares Report One (1) to two FAAD Financial Report Recommending
on the Petition (2) hours, or var- Specialist Approval or Denial of
iable the Petition

10 Prepares draft Order on the Two (2) to four Securities Coun- Draft Order Approving
Petition based on the merits or (4) hours or vari- sel/ Securities or Denying the Petition
if applicable, per the FAAD able Specialist
Report

11 Reviews Draft Order and en- Thirty (30) Assistant Direc- Draft Order granting or
dorses to the CRMD Director minutes tor/Officer-in- denying the Petition,
Charge endorsed to the CRMD
Director
12 Reviews and approves the Twenty (20) CRMD Director
Draft Order minutes

13 Prepares the approved final Five (5) minutes Securities Coun- Final Draft Order grant-
Order together with the trans- sel/ Securities ing or denying the Peti-
mittal letter Specialist tion

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
14 Signs and Approves Final Order Five (5) minutes CRMD Director Order granting or deny-
and Transmittal letter ing the Petition, duly
signed by the CRMD
Director

15 Petitioner corporation re- Releases Order Five (5) minutes Executive Assis- Order granting or deny-
ceives Order* tant or Clerk ing the Petition, duly
under the signed by the CRMD
*May appeal, if not satisfied CRMD Director Director and officially
with the Order to the Com- received by Petitioner.
mission En Banc (CEB).
END OF TRANSACTION

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Name Verification Services


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : The general public thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Secures service number from Provides service number on 1 minute Guard on Duty None Name Verification Form
guard and fills up Name Veri- a first come, first serve basis
fication Form/Purchase Mon-
ey Stamp

2 Proceeds to waiting area Inputs proposed company 10-15 minutes/ Name Verification None Name Verification Slip
and wait for service number name in the i-register system company Officer
to be called name
3 For DTI registered

-Presents DTI Certificate of


Registration
-Letter stating the entity in-
tended to convert to a cor-
poration signed by DTI regis-
trant

For cancelled DTI Registra-


tion
-Presents Certificate of Can-
cellation from DTI

4 Purchases money stamp If proposed company name 5 Minutes Name Verification 40.00/ Month
is allowed by the system, Officer
Issues Reservation Confirma-
tion Form

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STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
5 Files letter-appeal with print- If the proposed name is dis- 10 minutes Records Assistant None
out of the denied name at allowed and applicant in-
the Central Receiving Unit tends to appeal
CRU transmits letter- appeal
to CFRD

6 Decides letter-appeal. En- 5 minutes Assistant Director None


dorses the approved name
to Name Verification Officer

7 Issues Reservation Payment 5 minutes Name Verification P100


Confirmation officer

8 Applicant revoked/dissolved For Revoked/Dissolved Cor- 5 minutes Records Assistant None


corporation to file Letter- porations
Appeal addressed to SEC En CRU transmits letter appeal
Banc at the Central Receiv- to CFRD
ing Unit (CRU) , with At-
tached
1) Board Resolution/Sec.
Cert. stating that appli-
cant intends to use the
name
2) latest General Infor-
mation Sheet
3) Affidavit of no-intra cor-
porate dispute, and
4) IF WITH PROPERTY, attach
Affidavit with list of prop-
erties; IF NO PROPERTY,
attach Affidavit of no
property.
9 Prepares Memorandum for 15 minutes Assistant Director None
approval of the Commission
En Banc

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STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
10 Commission En Banc ap- 15 minutes Commission En None
proves or denies the use of Banc
name

11 If name is approved by the 5 minutes Name Verification 40.00


Commission En Banc Officer
Issues Reservation Confirma-
tion Form

12 Files letter-appeal at the CRU For Expired term (re- 10 minutes Name Verification None
with attached incorporation) Officer
1) Board Resolution/Sec.
Cert. stating that appli- Receives letter-appeal and
cant intends to use the Endorses to the Assistant Di-
name rector
2) Latest General Infor-
mation Sheet, Affidavit of
no-intra corporate dis-
pute, and
3) IF WITH PROPERTY, attach
Affidavit with list of prop-
erties; IF NO PROPERTY,
attach Affidavit of no
property.
13 Reviews letter appeal and 10 minutes Assistant Director None
other attached documents.
Endorses the approved
name to Name Verification
Officer

14 Issues Reservation Confirma- 5 minutes Name Verification 40.00


tion Form Officer

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 269


Table of Contents

Issuance of Certificates of No Derogatory Records/Affirmative/Negative


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : The general public thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Secures service number from Provides service number on 1 minute Guard on Duty None Certification Form
guard and fill up Certification a first come, first serve basis
Form
2 Proceeds to waiting area Records Assistant
and wait for service number
to be called
3 For: Affirmative Certification Verifies application form 10 minutes Monitoring Ana-
Presents request for certifica- and refers applicant lyst
tion to CMD for issuance of veri-
fication report
4 CMD verifies status and 5 minutes Records Assistant
compliance of reports of the
corporation. Issues verifica-
tion report
5 Applicant returns to CFRD Issues Payment Assessment 15 minutes Records Assistant P300.00
and presents application Form
form with verification report
6 Prepares Certification on 15 minutes Records Specialist
Corporate Filing/Information
7 Reviews Certification 5 minutes Assistant Director
8 Signs Certification 5 minutes Assistant Director
9 Presents receipt of payment. Releases Certification on 5 minutes Records Assistant
Acknowledges receipt of Corporate Filing/Information
Certification
END OF TRANSACTION — FOR AFFIRMATIVE CERTIFICATION

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STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
3 For: Negative Certification Issues Payment Assessment 10 minutes Records Assistant
Presents request for certifica- Form
tion
4 Verifies record and 15 minutes Records Assistant
Prepares Negative Certifica-
tion
5 Reviews/Signs Certification 5 minutes Assistant Director
6 Presents receipt of payment. Releases Certification on 5 minutes Records Assistant
Acknowledges receipt of Corporate Filing/Information
Certification
END OF TRANSACTION — FOR NEGATIVE CERTIFICATION
3 For: Certification of No De- Receives documents/ 5 minutes Records Assistant
rogatory Information Endorses to Records Special-
ist for review
a) If with confirmation of Issues Payment Assessment 5 minutes Records Specialist P500.00
payment, pays the certifica- Form
tion fee
4 Prepares Certificate of No- 10 minutes Records Specialist
Derogatory Record
5 Reviews/Signs Certification 5 minutes Assistant Director
6 Presents OR/ Releases Certificate of No- 5 minutes Records Assistant
Acknowledges receipt of the Derogatory Record
Certification
-END OF TRANSACTION-
3 b) If no confirmation of pay- Applicant corporation shall 15 minutes Records Specialist
ment be monitored
Pays Certification Fee. Re- a) If no penalty, Issues Pay- 5 minutes Records Specialist P500.00
turns the documents to Rec- ment Assessment Form (then
ords Specialist (then see see steps 4, 5 & 6)
steps 4, 5 & 6)
Pays penalty and certifica- b) If with penalty, Issues Pay- Records Specialist Penalty variable
tion fee (then see steps 4, 5 & ment Assessment Form for
6) penalty and Payment As-
sessment Form for certifica-
tion fee (then see steps 4, 5
& 6)
END OF TRANSACTION — FOR CERTIFICATION OF NO DEROGATORY RECORD
Company Registration and Monitoring Department P a g e 271
Table of Contents

Registration of Stock and Transfer / Membership Book


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registrant corporations thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Secures service number from Gives service number on a 1 minute Guard on duty None
guard first come, first serve basis

2 Issues Payment Assessment 1-2 minutes Records Assistant


Form

 Stock Corporation P150.00


 Non-Stock Corporation P75.00

3 Returns registration form and Stamps and inputs name of 2-3 minutes Records Assistant
original receipt together with corporation, date of ap-
the book for stamping proval

4 Acknowledges receipt of the Releases Stock and Transfer/ 3 minutes Records Clerk None
stamped STB/Membership Membership Book duly
Book stamped by SEC

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 272


Table of Contents

Receiving of Applications for New Registration (Domestic/Foreign) / Articles of Partnership


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registrant corporations thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Applicant presents docu- Checks Payment Assess- 5 minutes Records Officer None
ments to the Receiving Of- ment Form, Machine Valida-
ficer tion for fees paid. Verifies
type of documents filed,
completeness of documents
and the number of copies
submitted
2 Stamps the first page of 1 minute Records Officer
each documents including
FIA Application filed with
“Received.” Affixes his signa-
ture and date. Retains 3 sets
of registration documents
3 Records in the receiving log- 1 minute Records Assistant
book the name of applicant
corporation and the type of
documents submitted
4 Transmits documents for 30 minutes Records Assistant
registration and other perti-
nent documents to CPRD
5 Acknowledges transfer of 5 minutes CPRD Clerk
documents after counter-
checking the documents
listed in the logbook
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 273


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Receiving of Applications for Amendment of Articles of Incorporation / By-Laws / Articles of


Partnership/ Articles of Merger and Consolidation
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service :
What are the requirements :
How to avail of the service :
STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Applicant presents docu- Checks Payment Assess- 5 minutes Records Officer None
ments to the Receiving Of- ment Form, Machine Valida-
ficer tion for fees paid. Verifies
type of documents filed,
completeness of documents
and the number of copies
submitted
2 Stamps the first page of 1 minute Records Officer
each set of amended docu-
ments and the Directors’
Certificate with “Received.”
Affixes his signature and
date. Retains 3 sets of
amended documents
3 Records in the receiving log- 1 minute Records Assistant
book the name of applicant
corporation and the type of
documents submitted
4 Transmits amended docu- 15 minutes Records Assistant
ments for retrieval of records
5 Acknowledges transfer of 5 minutes Computer Opera-
documents after counter- tor
checking the documents
listed in the logbook
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 274


Table of Contents

Releasing of Approved Primary Registration / Amendments / Articles of Merger and Consolidation


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registrant/Claimant corporations thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


CLIENT ACTIVITY CHARGE
(under normal
circumstances)
1 Secures service number from Provides service number on 1 minute Guard on Duty None None
guard a first come, first serve basis

2 Registrant/Claimant corpora- Retrieves from the shelves of 5 minutes Records Clerk


tion presents Official Receipt sorted documents and affix-
and service number to Rec- es SEC dry seal on claimed
ords Officer documents

3 Records claimant’s infor- 5 minutes Records Assistant


mation in logbook
Claimant’s Name, type of
document, date approved
and OR number

4 Registrant/Claimant affixes Stamps “RELEASED” in OR, 5 minutes Records Assistant


name and other information approval date of document
in the logbook and date of release. Hands
over to Claimant document
and OR
END OF TRANSACTION

Company Registration and Monitoring Department P a g e 275


Table of Contents

Data Entry of Applications for Amendment / Articles of Merger and Consolidation and
Retrieval of Records
Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Registrant/Claimant corporations thru their representatives
What are the requirements :
How to avail of the service :
STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN CHARGE FEES FORM
CLIENT ACTIVITY
(under normal
circumstances)
1 Receives pre-processed applications for
amendment of Articles of Incorporation
and By-laws/Articles of Merger and Consoli-
dation from the CRMD Receiving Unit

2 Checks payment information (Number of 5-10 minutes Computer Operator None


documents and documents paid for
against amended documents

3 Confirms machine validation for payment


of filing fee

4 Enters the following information in SEC I-


Register - SEC Reg. No./Name/Form Type
and Amount Paid

5 Writes the system-generated Document ID 5 minutes Computer Operator


on the lower portion of the PAF

6 Reproduces documents needed in the pro-


cessing of application for amendments/
merger and consolidation. Transmits to
CPRD/FAAD for preparation of Certificate
of Incorporation

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 276


Table of Contents

Issuance of Authenticated Copies for Government Agencies


Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Government agencies thru their representatives
What are the requirements :
How to avail of the service :

STEP APPLICANT/ SERVICE PROVIDER DURATION OF PERSON IN CHARGE FEES FORM


CLIENT ACTIVITY
(under normal
circumstances)
1 Government Forwards letter request to Assistant Director 5 minutes Director’s Secretary Executive None
agency Assistant
sends letter-
request
2 Assigns letter request to Records Specialist 3 minutes Assistant Director

3 Endorses to SEC Computer Operator for 3 minutes Records Specialist


verification, and printing of records

4 Prints requested documents/records and 15 minutes SEC Computer Operator


prepares rubber stamp for signature

5 Reviews and authenticates the requested 10 minutes Assistant Director


records

6 Prepares endorsement letter for signature 5 minutes SEC Clerk


of the Director

7 Signs the endorsement letter 5 minutes Director

8 Endorsement letter and authenticated 10 minutes Records Assistant


copies are forwarded to the government
agency

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 277


Table of Contents

Amendment of Article VII of Articles of Incorporation and Other Applications


1. Amendment of Article VII of Articles of Incorporation:
a) Increase of Authorized Capital Stock
b) Decrease of Authorized Capital Stock
i. Thru Return of Capital
ii. All Others
c) Reclassification / Conversion / Change of Par Value of Shares

2. Other Applications:
a) Confirmation of Valuation or Exempt Transaction (Other than Cash Payment on Subscription)
b) Property Dividend Declaration
c) Quasi-Reorganization
d) Equity Restructuring
e) Creation of Additional Paid-in Capital
f) Dissolution of Domestic Corporation

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations duly registered at SEC
What are the requirements : Please refer to Annex E (You may secure the checklist from the website or from the officer of the day.)
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1.1 Presents application and sup- 1) Pre-screens Applications and Assigns 5 minutes Support Staff None Transaction Slip
porting documents, together the Processor / Specialist (Available at the
with monitoring clearance, for Guard’s Post)
pre-processing Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
2) Pre-processes application and sup- 30 minutes to 1 Specialist None
porting documents Hour
a) If compliant, the assigned Proces-
sor prepares final checklist and
forwards the same to the Asst.
Director for review
b) If non-compliant, prepares
checklist of deficiencies

3) Reviews applications and supporting 3 to 5 Days Asst. Director None


documents

4) Prepares Payment Assessment Form 5 minutes Specialist


(PAF)

 Please Proceed to Step 2 -

1.2.1 Presents application and sup- 1) Pre-screens Applications and assigns 5 minutes Support Staff None Transaction Sli
porting documents, together to the Processor / Specialist (Available at the
without monitoring clearance, Guard’s Post)
for pre-processing Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

2) Pre-processes application and sup- 1 hour to 3 Specialist


porting documents hours
a) If compliant, the assigned Proces-
sor forwards the application to
the Asst. Director
b) If non-compliant, prepares
checklist of deficiencies

Company Registration and Monitoring Department P a g e 279


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3) Monitors compliance with reportorial 1-2 Hours Specialist
requirements and rules and regula-
tions of SEC
a) If assessed without PENALTY, the
assigned Processor forwards the
application to the Asst. Director
provided the application docu-
ments are compliant (item no. 2)
b) If assessed with PENALTY, Pre-
pares and issues Payment Assess-
ment Form (PAF)

1.2.2 Pays assessed penalties at the Processes payment and Issues Official 5 minutes Cashier
Cashier Receipt

1.2.3 Submits the machine-validated 1) Receives the PAF and application 5 minutes Support Staff
PAF and the application docu- documents
ments, if compliant (item 2 of 2) Prepares Confirmation of Payment of 10 to 15 Specialist
1.2.1), to the Assigned Processor Penalties minutes
thru the Counter Officer 3) Attaches the same to the application 1 minute
documents
4) Prepares and submits final checklist 15 to 20
for review minutes
5) Reviews applications and supporting Asst. Director
documents
6) Prepares Payment Assessment Form Specialist
(PAF)

2 Pays filing fee at the Cashier Processes payment and Issues Official 5 minutes Cashier Please refer to
Receipt Annex E

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3 Submits the machine-validated 1) Secures and attaches the PAF to the 3 minutes Support Staff None
PAF to CRMD Receiving Unit to- application (Receiving
gether with the Four (4) sets of 2) Stamps receive Four (4) sets the ap- 1 minute Officer)
application documents plication documents
3) Returns one(1) copy of the applica- 1 minute Support Staff
tion to the client (CFRD)
4) Forwards the application to CFRD End of the day
5) Verifies and produces applicant’s 10 to 15
record which shall be attached to minutes
the application
6) Forwards the application to CPRD for 5 minutes Support Staff
the generation of Certificate (CPRD)
7) Generates Certificate 30 Minutes
8) Reviews application 5 minutes Asst. Director
9) Approves and signs application doc- Director
uments and certificate, respectively.
10) Forwards to CRMD Releasing Unit Support Staff
(Office of the
Director)

4 Presents Official Receipt to Sorts/Releases the Certificate of In- 5 minutes Support Staff
CRMD Releasing Unit, to claim crease/Decrease of Authorized Capital (Releasing)
the approved Certificate of In- Stock and Certificate of Filing of Amend-
crease, Decrease, Amended Ar- ed Articles of Incorporation and/or By-
ticles of Incorporation laws with all pertinent documents

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 281


Table of Contents

Merger/Consolidation

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations duly registered at SEC
What are the requirements : Please refer to Annex E (You may secure the checklist from the website or from the officer of the day.)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
1.1 Presents application and support- 1) Pre-screens Applications and Assigns to 5 minutes Support Staff None Transaction Slip
ing documents, together with FAAD Processor / Specialist (Available at
monitoring clearance, for pre- Note: Documents must be complete in ac- the Guard’s Post)
processing cordance with checklist of requirements
herein provided. Otherwise the same shall
be rejected.

2) Pre-processes application and support- 2 – 3 Hours FAAD Spe- None


ing documents cialist
a) If compliant, the assigned Processor
prepares final checklist to be for-
warded to FAAD Asst. Director after
compliance with CPRD’s require-
ments.
b) If non-compliant, prepares checklist
of deficiencies
3) Forwards to CPRD 5 minutes Support Staff
4) Assigns application to CPRD Processor / 5 minutes Support Staff
Specialist
5) Pre-processes application and support- 30 minutes to 1 CPRD Spe-
ing documents hour cialist
a) If compliant, the assigned Processor
prepares final checklist and forwards
the same to FAAD
b) If non-compliant, prepares checklist
of deficiencies
6) Prepares and submits final checklist for 30 minutes FAAD Spe-
review cialist
Company Registration and Monitoring Department P a g e 282
Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
7) Reviews applications and supporting 1 to 2 hours Assistant Di- None
documents rector
8) Prepares Payment Assessment Form 5 minutes FAAD Spe-
(PAF) cialist
- Please Proceed to Step 2 -
1.2.1 Presents application and support- 1) Pre-screens Applications and Assigns to 5 minutes Support Staff
ing documents, together with FAAD Processor / Specialist
monitoring clearance, for pre-
processing Note: Documents must be complete in ac-
cordance with checklist of requirements
herein provided. Otherwise the same shall
be rejected.

2) Pre-processes application and support- 2 – 3 Hours FAAD Spe-


ing documents cialist
a) If compliant, the assigned Processor
prepares final checklist to be for-
warded to FAAD Asst. Director after
compliance with CPRD’s require-
ments.
b) If non-compliant, prepares checklist
of deficiencies
3) Forwards to CPRD 5 minutes Support Staff
4) Assigns application to CPRD Processor / 5 minutes Support Staff
Specialist
5) Pre-processes application and support- 30 minutes to 1 CPRD Spe-
ing documents hour cialist
a) If compliant, the assigned Processor
prepares final checklist and for-
wards the same to FAAD
b) If non-compliant, prepares checklist
of deficiencies

Company Registration and Monitoring Department P a g e 283


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
6) Monitors compliance with reportorial 1 to 2 hours FAAD Spe-
requirements and rules and regulations cialist
of SEC
a) If assessed without PENALTY, the
assigned Processor forwards the
application to the Asst. Director pro-
vided the application documents
are compliant (item no. 2)
b) If assessed with PENALTY, Prepares
and issues Payment Assessment
Form (PAF)

1.2.2 Pays assessed penalties at the Processes payment and Issues Official Re- 5 minutes Cashier
Cashier ceipt

1.2.3 Submits the machine-validated 1) Receives the PAF and application doc- 5 minutes Support Staff
PAF and the application docu- uments
ments, if compliant (item 2 of 2) Prepares Confirmation of Payment of 10 to 15 minutes FAAD Spe-
1.2.1), to the Assigned Processor Penalties cialist
thru the Counter Officer 3) Attaches the same to the application 1 minute
documents
4) Prepares and submits final checklist for 30 Minutes
review
5) Reviews applications and supporting 1 to 2 hours Assistant Di-
documents rector
(CPRD)
6) Prepares Payment Assessment Form 5 minutes FAAD Spe-
(PAF) cialist

2 Pays filing fee at the Cashier Processes payment and Issues Official Re- 5 minutes Cashier
ceipt

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3 Submits the machine-validated 1) Secures and attaches the PAF to the 3 minutes Support Staff None
PAF to CRMD Receiving Unit to- application (Receiving
gether with the Four (4) sets of 2) Stamps receive Four (4) sets the appli- 1 minute Officer)
application documents cation documents
3) Return one(1) copy of the application 1 minute
to the client
4) Forwards the application to CFRD End of the day
5) Verifies and produces applicant’s rec- 10 to 15 Support Staff
ord which shall be attached to the ap- minutes (CFRD)
plication
6) Forwards the application to CPRD for 5 minutes
the generation of Certificate
7) Generates Certificate 30 Minutes Support Staff
(CPRD)
8) Reviews application 5 minutes Asst. Director
9) Approves and signs application docu- 30 minutes Director
ments and certificate, respectively.
10) Forwards to CRMD Releasing Unit 10 minutes Support Staff
(Office of the
Director)
4 Presents Official Receipt to CRMD Sorts/Releases the Certificate of Increase/ 5 to 15 minutes Support Staff
Releasing Unit, to claim the ap- Decrease of Authorized Capital Stock and (Releasing)
proved Certificate of Increase, Certificate of Filing of Amended Articles of
Decrease, Amended Articles of Incorporation and/or By-laws with all perti-
Incorporation nent documents

END OF TRANSACTION

Company Registration and Monitoring Department P a g e 285


Table of Contents

Cash or Stock Dividend Declaration

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations duly registered at SEC
What are the requirements : Please refer to Annex E
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1.1 Presents application and supporting 1) Pre-screens Applications and As- 5 minutes Support None Transaction Slip
documents, together with monitoring signs of to the Processor / Specialist Staff (Available at the
clearance, for pre-processing Guard’s Post)
Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

2) Pre-processes application and sup- 30 Minutes to 1 Specialist None


porting documents Hour
a) If compliant, the assigned Pro-
cessor prepares final checklist
and forwards the same to the
Asst. Director for review
b) If non-compliant, prepares
checklist of deficiencies

3) Prepares Payment Assessment Form 5 minutes Specialist PAF


(PAF)
- Please Proceed to Step 2 -
1.2.1 Presents application and supporting 1) Pre-screens Applications and As- 5 minutes Support None Transaction Slip
documents, together without monitor- signs to the Processor / Specialist Staff (Available at the
ing clearance, for pre-processing Guard’s Post)
Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

Company Registration and Monitoring Department P a g e 286


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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
2) Pre-processes application and sup- 30 Minutes to 1 Specialist None
porting documents Hour
a) If compliant, the assigned Pro-
cessor forwards the application
to the Asst. Director
b) If non-compliant, prepares
checklist of deficiencies

3) Monitors compliance with reportori- 1 to 2 hours FAAD Spe-


al requirements and rules and regu- cialist
lations of SEC
a) If assessed without PENALTY, the
assigned Processor forwards the
application to the Asst. Director
provided the application docu-
ments are compliant (item no. 2)
b) If assessed with PENALTY, Pre-
pares and issues Payment As-
sessment Form (PAF)

1.2.2 Pays assessed penalties at the Cashier Processes payment and Issues Official 5 minutes Cashier
Receipt

1.2.3 Submits the machine-validated PAF 1) Prepares Confirmation of Payment 5 to 10 minutes PAF
of Penalties
2) Attaches the same to the applica- 1 minute
tion documents
3) Prepares Payment Assessment 15 to 20 minutes
Form (PAF) for filing fee, if compli-
ant
4) Returns the document application

2 Pays filing fee at the Cashier Processes payment and Issues Official 5 minutes Cashier
Receipt

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Table of Contents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3 Submits the machine-validated PAF 1) Secures and attaches the PAF to 1 to 3 Days None PAF
(Filing Fee) to CRMD Receiving Unit to- the application
gether with the Four (4) sets of applica- 2) Stamps receive Four (4) sets the
tion documents application documents
3) Returns one(1) copy of the appli-
cation to the client
4) Forwards the application to CFRD
5) Verifies and produces applicant’s
record which shall be attached to
the application
6) Forwards the application to FAAD
for the preparation of Acknowl-
edgement Letter
7) Reviews and signs Acknowledge-
ment Letter

4 Presents Official Receipt to the Counter 1) Receives official receipts 5 minutes Support
Officer Staff
2) Releases Acknowledgement Re- 5 Minutes (Counter
ceipt Officer)
Support
Staff
(CPRD)

END OF TRANSACTION

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Table of Contents

Certification of Capital Structure / Percentage of Ownership

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break), Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Corporations and Partnerships duly registered and recorded at SEC
What are the requirements : Please refer to Annex E
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM
ACTIVITY CHARGE
(under normal
circumstances)
1.1 Presents application and support- 1) Pre-screens Applications and Assigns 5 minutes Support Staff None Transaction Slip
ing documents, together with mon- to the Processor / Specialist (Available at the
itoring clearance, for pre- Guard’s Post)
processing Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

2) Pre-processes application and sup- 30 Minutes to 1 Specialist None


porting documents hour
a) If compliant, the assigned Proces-
sor prepares final checklist and
forwards the same to the Asst. Di-
rector for review
b) If non-compliant, prepares check-
list of deficiencies

3) Prepares Payment Assessment Form 5 minutes Specialist PAF


(PAF)
- Please Proceed to Step 2 -
1.2.1 Presents application and support- 1) Pre-screens Applications and Assigns 5 minutes Support Staff
ing documents, together without of to the Processor / Specialist
monitoring clearance, for pre-
processing Note: Documents must be complete in
accordance with checklist of require-
ments herein provided. Otherwise the
same shall be rejected.

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
2) Pre-processes application and sup- 30 Minutes to 1 Specialist
porting documents hour
a) If compliant, the assigned Pro-
cessor forwards the application
to the Asst. Director
b) If non-compliant, prepares
checklist of deficiencies

3) Monitors compliance with reportorial 3 to 4 Hours Specialist


requirements and rules and regula-
tions of SEC
a) If assessed without PENALTY, the
assigned Processor forwards the
application to the Asst. Director
provided the application docu-
ments are compliant (item no. 2)
b) If assessed with PENALTY, Pre-
pares and issues Payment Assess-
ment Form (PAF)

1.2.2 Pays assessed penalties at the Processes payment and Issues Official 5 minutes Cashier
Cashier Receipt

1.2.3 Submits the machine-validated PAF 1) Prepares Confirmation of Payment of 5 to 10 minutes


and the application documents, if Penalties
compliant (item 2 of 1.2.1), to the 2) Attaches the same to the applica- 1 minute
Assigned Processor tion documents
3) Prepares Payment Assessment Form 15 to 20 minutes
(PAF) for filing fee

2 Pays filing fee at the Cashier Processes payment and Issues Official 5 minutes Cashier Please see
Receipt Annex E

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF PERSON IN FEES FORM


ACTIVITY CHARGE
(under normal
circumstances)
3 Submits the machine-validated PAF 1) Secures and attaches the PAF to the 1 to 2 days None PAF
to CRMD Receiving Unit together application
with the application documents, if 2) Prepares final checklist, retrieves rec-
compliant (item 2 of 1.2.1), to the ords and generates certification
Assigned Processor thru the Coun- 3) Reviews application
ter Officer 4) Approves and signs certification

4 Presents Official Receipt to the 1) Receives official receipts 5 Minutes Support Staff
Counter Officer (Counter Of-
ficer)
2) Releases Certification 5 Minutes Support Staff
(CPRD)

END OF TRANSACTION

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Information and Communications Technology Department

1) Formulates the SEC Information Systems Strategic Plan (ISSP) and coordinates activities relative to the implementation thereof;
2) Undertakes procurement planning, acquisition, and deployment of the Commission’s Information and Communications Technology (ICT)
resources in accordance with the SEC-ISSP;
3) Leads and facilitates application systems development activities, including the administration, maintenance and promotions of the systems
developed and deployed application systems;
4) Performs capacity planning activities and administers the network and communications infrastructure of the Commission including estab-
lishment of linkages between the SEC Head Office and Extension Offices;
5) Ensures the proper maintenance of the computer and network facilities of the Commission;
6) Participates in inter-agency electronic linkages and data-sharing arrangements;
7) Preserves the integrity of SEC electronic data;
8) Updates the database entries relative to amendments to the capital structure/contributed capital of SEC registered companies
9) Receives reports and other written communications (mails and walk-in) and releases SEC documents, except applications processed and
approved by the Company Registration and Monitoring Department;
10) Maintains archives and manages electronic copies of documents submitted by registered companies;
11) Coordinates with other departments/offices in the disposal of records in accordance with Philippine law and SEC policy;
12) Provides information of registered companies to SEC internal and external users;
13) Authenticates corporate/partnership documents based on electronic records;
14) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Request for Listings


2) Request for copy/copies of documents
3) Receiving of documents
4) Releasing of documents/correspondence from operating departments

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Request for Listings


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :
1)
2)
3) Official Receipt (OR) to be issued by cashier upon payment

How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Fills-up request form and Evaluates request 30 minutes to fill-up the Support Staff Request for ICTD
submits to ICTD form Information services

2 Presents request form Assesses request, prepares 5 minutes to generate Support Staff  Listing of Top 5000 Payment Assess-
and prints Payment Assess- corporations (basic ment Form (PAF)
ment Form (PAF) indicators, i.e. prof-
it, sales, assets, lia-
bilities, equities) –
P1,000.00 per year
of data per listing
 Company Listings
and Statistics –
P1,000.00 per year
of data
 Hard copy of doc-
uments with list
containing various
information i.e. ad-
dress, industry clas-
sification, equity
structures, etc. –
P5.00 per page

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
3 Proceeds to Cashier to pay Accepts payment and issues 5 minutes Cashier
assessed fee Official Receipt
4 Presents request form and Transmits the request form Due 15 working days System Developer
the payment/receipt and PAF to System Develop- from receipt of request
er and PAF
5 Generates data requested
and assesses total payment
due
6 Returns to the ICTD to get Checks record of requested 5 minutes Support Staff
the document data if ready for releasing
and prepares PAF for addi-
tional payment
7 Proceeds to Cashier if ad- Accepts payment and issues 5 minutes Cashier
ditional payment is re- Official Receipt
quired
8 Presents payment/receipt Releases data requested 15 minutes Support Staff
and gets documents
END OF TRANSACTION

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Request for Copy/Copies of Document/s


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :

Option 1— For pick-up


1)
2)
3)

Option 2 — For delivery

How to avail of the service :

Option 1— For pick-up

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Calls SEC Express Hotline Call center agent receives Third Party Service N/A
no. 737-8888 OR goes call and gets required client Provider/Call center
online at information. agent
www.secexpress.ph
to schedule an appoint- Note: Maximum of 3 docu-
ment and prints Appoint- ments per appointment
ment Form received
through e-mail
2 Proceeds to SEC Public Verifies the client’s appoint- 2 minutes Service Provider Staff Printout of Appoint-
Reference Unit (PRU) on ment schedule and ID, then ment Form
the scheduled date and stamps the appointment
time and presents printout form with time of “in”
of appointment form to the
Appointment Verifier at the
entrance

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
3 Presents Appointment Verifies availability of the 5-8 minutes Front desk Staff Paper/Film Request
Form to Information Coun- requested document in Form
ter and fills out Paper Re- iView. If unavailable, refers
quest Form and/or Film Re- the client to Film counter.
quest Form
4 Views and assesses fee 2 minutes Retrieval Officer Plain
AI/AAI – 100.00
BL/ABL – 100.00
GIS – 25.00
ICS – 70.00
Resolution – 25.00
Sec. Cert – 25.00
Board Reso – 25.00
RDS – 35.00
Deed of Assign – 25.00
Borrowing fee – 50.00/
doc
Others – 10.00/page +
50.00 /corp
Authenticated
AI/AAI – 200.00
BL/ABL – 200.00
GIS – 100.00
ICS – 200.00
Resolution – 50.00
Sec. Cert – 50.00
Board Reso – 50.00
RDS – 50.00
Deed of Assign – 50.00
Others – 5.00 per page
+ 50.00 per doc
5 Prepares Payment Assess- 2 minutes SEC Support Staff PAF
ment Form (PAF)
6 Proceeds to Cashier to pay Receives payment and is- 5 minutes Cashier OR
corresponding fees sues Official Receipt (O.R.)

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
7 Returns to PRU and pre- Paper – prints documents 5 minutes Retrieval Officer
sents PAF with OR using pinmailer
Film – releases document to 1 minute
client
8 If authenticated – Pro- Checks, verifies complete- 3-8 minutes Authentication Of-
ceeds to designated Au- ness, stamps and signs docu- ficer
thentication Officer/s ments and releases docu-
ment to client
9 Surrenders Appointment Stamps the form with time of ` Guard on Duty
Form to Guard “out”
END OF TRANSACTION—Option 1

Option 2— For delivery

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Calls SEC Express Hotline Call center agent receives Third Party Service Fees and charges are
no. 737-8888 OR goes call and gets required client Provider the same with docu-
online at information; Service Provider ments for pick up, but
www.secexpress.ph receives online requests, as- with additional charge
to order for delivery sesses fee, and sends pay- for courier delivery
ment instructions to client
2 Checks email for payment Partner payment center re- -do-
instructions, then proceeds ceives payment; issues O.R./
to the nearest payment payment confirmation
center to pay the assessed
fee
3 Confirms payment with Prints manifest for all paid 3-10 minutes -do-
SEC Express requests and distributes
printing assignments to Re-
trieval Officers/Contract of
Service (COS) personnel

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STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
4 Views, verifies, prints and 3-5 minutes/doc Retrieval Officer/COS
tags assigned requested personnel
documents
5 Prepares PAF 2-5 minutes/request -do-
6 On behalf of the client, the Issues OR 5-15 minutes Cashier
third party service provider
proceeds to the Cashier
and pays the fees, then
presents OR to PRU
7 If authenticated, checks, 2-3 minutes/doc Authentication of-
verifies completeness, ficer
stamps and signs docu-
ments, then releases docu-
ments to the third party ser-
vice provider
8 Tags and transmits docu- 5-30 minutes Third Party Service
ments to courier for delivery Provider
9 Receives delivered docu- Delivers documents Within 24-36 working Third Party Service
ments hours (3-3.5 working Provider— Partner
days) Courier
END OF TRANSACTION—Option 2

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Receiving of Document/s (Reports/Reportorial Requirements — i.e. General Information Sheet and


Audited Financial Statement; documents other than reports — i.e. correspondences, etc.)
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements : If reports/reportorial requirements, bring 4 sets/copies. Otherwise, no other requirements needed.
How to avail of the service :

1. Walk-in submission of reports/reportorial requirements


2. Online submission of reports/reportorial requirements
3. Walk-in delivery of correspondences and other documents

Option 1— Walk-in submission of reports/reportorial requirements


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Client proceeds to the Calls on the client’s number Receiving Officer None None
Central Receiving and Re-
leasing Unit, Ground Floor,
SEC Bldg. or at any Satellite
Office; gets queue number
and waits to be called
2 Presents 4 sets/copies of Encodes document, prints 3 minutes/doc -do-
the documents barcode page, and at-
tached barcode page to
each copy
3 Claims 1 set for his file Retains 3 sets including origi- 1 minute -do-
copy, including the ac- nal and returns 1 set to client
knowledgment receipt
(barcode page)
END OF TRANSACTION

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Option 2 — Online submission of reports/reportorial requirements

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Goes online at
www.sens.secexpress.ph
and accomplishes SEC Ex-
press Nationwide Submis-
sion (SENS) Form
2 Proceeds to a SENS Air21 Assesses fees either for: 2 minutes/doc Partner Courier staff Fees and charges will
Partner Courier and pre- a) submission only; or vary depending on the
sents 4 sets/copies of the b) submission with a return type of submission, and
documents for submission copy on the area of delivery
address if a return
copy is needed.
3 Pays assessed fees Issues receipt 1 minute/doc -do-
4 Receives and checks track- 5 minutes Third Party Service
ing number against mani- Provider
fest; sorts documents ac-
cordingly, whether submis-
sion only or submission with a
return copy; then transmits
documents to SEC Head Of-
fice
END OF TRANSACTION—Option 2 (if submission only)
5 Waits for return copy Encodes, prints and attach- 2 minutes /doc Receiving Officer/
es barcode page, then re- COS personnel
turns client’s copy to SENS
representative/third party
service provider
6 Issues OR and processes 4-7 minutes Third Party Service
documents with return copy Provider
for dispatch, then transmits
to courier for delivery
7 Delivers to client Within 24-36 working hours Partner Courier
(3-3.5 working days)

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Option 3 — Walk-in delivery of correspondences and other documents

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Presents letters/ Receives and encodes doc- 2 minutes/doc Receiving Office/ None None
correspondence/ ument in iSubmit Module COS personnel
documents other than re- and prints 2 barcode pages;
portorial requirements returns receiving copy to
client
2 Checks physical copy 3-5 minutes -do-
against Batch List, then
transmits to Micrographics
Unit for scanning
3 Scans documents 3 minutes/doc Scanner Operator
4 Transmits to concerned de- Afternoon of the same
partment day/Morning of the
following day
END OF TRANSACTION

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Releasing of Documents
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : General Public
What are the requirements :
How to avail of the service :
1. Release through Post Office Mailing
2. Release through Courier Mailing

Release through Post Office Mailing


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Receives documents from operating 6 minutes Releasing Officer /
department/office Staff
2 Sorts and weighs mail documents, 4 minutes/doc -do-
places Registry Barcode number stick-
ers on the following: 1 sticker on enve-
lope, 1 sticker on Registry receipt, 2
stickers on dept. transmittal receipts
3 Transmits mail documents to Greenhills Approx. 40 mins -do-
Post Office
END OF TRANSACTION

Release through Post Office Mailing

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Receives documents from operating 1 minute Releasing Officer /
department/office Staff
2 Records documents in Courier logbook 5 minutes -do-
3 Transmits document to courier staff 2 minutes -do-
END OF TRANSACTION

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Economic Research and Training Department

1) Coordinates the formulation and monitoring of the agency’s strategic and operational plans;
2) Prepares the agency’s inputs to government plans and related reports/updates;
3) Prepares materials on the policies, plans, programs, and accomplishments of the SEC for reporting to government oversight agencies ( eg.
DBM, DOF, NEDA, Congress);
4) Publishes the SEC Annual Report;
5) Acts as the focal SEC department in implementing infomercials and conducting education programs for the external public;
6) Acts as the focal SEC department on matters pertaining to performance governance and quality management programs;
7) Coordinates with SEC department the formulation and implementation of the annual research agenda of the Commission;
8) Coordinates statistical compilation activities and represents the Commission in inter-agency activities on statistical concerns;
9) Provides technical support to inter-agency activities and coordination on matters relating to multi-lateral, regional and bilateral internation-
al trade and economic partnership agreements on financial services;
10) Coordinates the conduct of capacity building programs for capital market participants;
11) Administers certification examinations for capital market participants;
12) Coordinates with foreign donors on the implementation of SEC capacity building projects/activities as assigned by the Commission en
banc;
13) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Request for Copy of the SEC Publication of the Philippines’ Top Corporations
2) Request for Certification of Ranking in the Philippines’ Top Corporations
3) Registration for Certification Seminars
4) Registration for Regular and Special Examination
5) Releasing of Congratulatory Letter
6) Reprinting of Congratulatory Letter
7) Student Orientation/Educational Visit

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Request for Copy of the SEC Publication of the Philippines’ Top Corporation
Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Individual and Institutional researchers
What are the requirements : None
How to avail of the service :
1) Walk-In
2) Phone-in/Facsimile (Fax)
3) E-mail

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Files the request: Receives request and assess- 2-5 minutes Economic Research a) Main report; narra-
a) In person to the Eco- es its nature to determine and Statistics Division tive (in pdf form)
nomic Research and Train- which data is exactly need- (ERSD) Officer of the and 13 schedules
ing Department (ERTD) at ed: day (in Excel form)
the West Wing, G/F Secre- a) If the 2014 edition cover- a.1) in PDF format -
tariat Bldg, PICC Complex, ing FY 2013 financial op- P3,000.00
Pasay City, c/o Ms. Ma. erations is needed, ex- a.2) in pdf/Excel
Theresa M. Bersabal plains to the client the format -
b) Through a phone call at appropriate fees/ P5,000.00
telephone number 818- charges, then prepares b) Directory
6117 or thru facsimile num- and issues PAF b.1) In PDF format -
ber 818-5526. b) If old issues/publications, P5,000.00
c) Via email to mtmbersa- refers the client to the b.2) In MS Excel for-
bal@sec.gov.ph SEC Library mat -
P10,000.00
2 Pays the assessed fee at Receives payment and is- 20 minutes Cashier OR / PAF
the cashier sues OR
3 Returns to ERTD and pre- Releases the report in elec- Within 5 minutes ERSD officer of the
sents machine validated tronic copy contained in CD day
PAF and OR to claim the -ROM, then records transac-
report, then acknowledges tion in the ERSD logbook
receipt
END OF TRANSACTION

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Request for Certification of Ranking in the Philippines’ Top Corporation


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Individual and Institutional researchers
What are the requirements : None
How to avail of the service :
1) Walk-In
2) Phone-in/Facsimile (Fax)
3) E-mail

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Files the request: Validates/checks the list of Within 1 hour Economic Research P300.00 — certification PAF
a) In person to the Eco- Top Corporations, then noti- and Statistics Division fee
nomic Research and Train- fies the client whether or not (ERSD) Officer of the
ing Department (ERTD) at included in the list. If includ- day
the West Wing, G/F Secre- ed, issues the PAF for the
tariat Bldg, PICC Complex, Certification Fee
Pasay City, c/o Ms. Ma.
Theresa M. Bersabal
b) Through a phone call at
telephone number 818-
6117 or thru facsimile num-
ber 818-5526.
c) Via email to mtmbersa-
bal@sec.gov.ph
2 Pays the assessed fee at Receives payment and is- 20 minutes Cashier OR / PAF
the cashier sues OR
3 Returns to ERTD and pre- Records OR details, prepares Within 10 minutes ERSD officer of the Certification of
sents machine validated and releases the certifica- day Ranking
PAF and OR to claim the tion, then records transac-
certification, then acknowl- tion in the ERSD logbook
edges receipt
END OF TRANSACTION

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Registration for Certification Seminar


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Prospective Associated Person (AP) and Prospective Certified Securities Representatives (CSR)
What are the requirements : Fully accomplished registration form from the respective participants
How to avail of the service :

1) Download the appropriate form and accomplish the same. Please follow this link to view the form:
http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/
2) Submit the accomplished form together with your registration fee at the West Wing, Ground Floor, Secretariat Building, PICC Complex, Pasay

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Submits registration form Accepts registration form 5 minutes Training Staff Registration form
and issues Payment Assess- and PAF
ment Form (PAF)
2 Pays the registration fee at Receives payment and is- 20 minutes Cashier P7,500.00 (AP) PAF and Official
the SEC Cashier sues Official Receipt (OR) P5,500.00 (CSR) Receipt (OR)
*the fees include
P 500 examination fee.
3 Returns to ERTD and pre- Advises the participant 5 minutes Training Staff PAF/OR
sents validated PAF and about the schedule of semi-
OR nar
END OF TRANSACTION

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Registration for Regular and Special Examination


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Prospective Associated Person (AP) and Prospective Certified Securities Representatives (CSR) ,
Prospective Mutual Funds (MF) and Fixed Income (FI) Salesman
What are the requirements : Fully accomplished registration form from the respective participants
How to avail of the service :

1) Download the appropriate form and accomplish the same. Please follow this link to view the form:
http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/
2) Submit the accomplished form together with your registration fee at the West Wing, Ground Floor, Secretariat Building, PICC Complex, Pasay

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Submits registration form Accepts registration form 5 minutes Training Staff Registration form
and issues Payment Assess- and PAF
ment Form (PAF)
2 Pays the registration fee at Receives payment and is- 20 minutes Cashier P2,500.00 (FI first time PAF and Official
the SEC Cashier sues Official Receipt (OR) takers) Receipt (OR)
P500.00 (CSR and MF
first time takers)
P500.00 (per AP mod-
ule)
P500.00 (retake)
3 Returns to ERTD and pre- Informs the examinee of the 5 minutes Training Staff PAF/OR
sents validated PAF and schedule of examination
OR
END OF TRANSACTION

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Releasing of Congratulatory Letters


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Those who passed the Examination for Associated Person (AP), Certified Securities Representatives (CSR),
Mutual Funds (MF), and Fixed Income (FI) Salesman
What are the requirements : Authorization Letter if a representative will claim the congratulatory letter
How to avail of the service : Examinees can claim their congratulatory letter/s by way of personal appearance or through their authorized
representative.

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Proceeds to the ERTD Of- Locates and photocopies 3-5 minutes Training Staff None
fice for personal appear- the document/s
ance. Authorized repre-
sentative submits authori-
zation letter addressed to
ERTD Director.
2 Receives congratulatory Files the receiving copy 3 minutes -do- Congratulatory Let-
letter; signs the receiving signed by the examinee or ter
copy their authorized representa-
tive
END OF TRANSACTION

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Reprinting of Congratulatory Letters


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Those who passed the Examination for Associated Person (AP), Certified Securities Representatives (CSR),
Mutual Funds (MF), and Fixed Income (FI) Salesman
What are the requirements : Authorization Letter if a representative will claim the congratulatory letter

 For data correction: (1) Request letter addressed to ERTD Director; (2) Original Congratulatory letter
 For reprinting (in case of loss): (1) Request letter addressed to ERTD Director; (2) Photocopy of 2 valid IDs; (3) Affidavit of loss

How to avail of the service : Examinees can claim their congratulatory letter/s by way of personal appearance or through their authorized
representative, who shall present an endorsement/authorization letter signed by the examinee

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 For data correction, client Verifies the records and re- 3 minutes Training Staff None Congratulatory Let-
presents the requirements prints the letter. ter
stated above.

For reprinting (in case of Verifies the records, pre- 3 minutes P300.00 PAF
loss), client presents the pares the PAF, then prints
requirements stated the document and marks it
above. as “Certified True Copy”
2 Pays the required fee at Receives payment and is- 20 minutes Cashier PAF/OR
the SEC Cashier sues OR
3 Returns to ERTD and pre- Files the receiving copy 3 minutes Training Staff Congratulatory Let-
sents validated PAF and signed by the examinee or ter
OR, then signs the receiv- their authorized representa-
ing copy tive
END OF TRANSACTION

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Student Orientation/Educational Visit


Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Who may avail of the service : Universities/Colleges
What are the requirements : Request Letter addressed to the Chair signed by an authority of the university/college
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Submits request letter by Transmits the request letter 5 minutes Office of the Chair- None Request Letter
personal appearance or to the ERTD Director and person Staff
through phone call, fax, or Assistant Director of the
email. Training Division
2 Waits for advise from the Receives the request letter 3 minutes Office of the ERTD
Training Division from the Office of the Chair- Director
person, then checks the cal-
endar of activities to verify
when the request may be
accommodated
3 Confirms the request 10 minutes Training Staff
through phone call and via
e-mail, addressed to the
School Coordinator
4 Prepares a memo ad- 10 minutes -do-
dressed to the concerned
department for the request
of resource person/s and
preparation of appropriate
office order.
END OF TRANSACTION

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Human Resource and Administrative Department

1) Implements CSC law, rules and regulations, in matters of recruitment and selection, training and staff development, scholarship grants, per-
formance management, merit promotion, employee welfare, and administrative disciplinary actions;
2) Manages the activities of the Medical and Dental Unit in providing health care to SEC employees;
3) Conducts Human Resource (HR) policy research;
4) Implements internal and external communications system such as publication of newsletter, SEC Circulars, Vacant Positions and other publi-
cations as may be assigned from time to time;
5) Coordinates with the Office of the Commission Secretary on media relation matters;
6) Manages SEC Library;
7) Provides timely and effective administrative and general services support to the departments and offices of the Commission;
8) Provides administrative support and assistance in the procurement process of the SEC in accordance with Republic Act No. 9184 and its
Implementing Rules and Regulations (IRR) and other applicable laws and rules;
9) Reviews and submits SALN of employees to appropriate agencies;
10) Manages the Citizen’s Charter and monitors compliance with the Anti-Red Tape Act of 2007 (ARTA) (Republic Act No. 9485);
11) Plans and implements Gender and Development (GAD) programs;
12) Plans and implements Senior Citizen related concerns;
13) Administers the Internship Program;
14) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Library Services: Reference Queries (Phone-in, Walk-in, E-mail)


2) Access to Library Resources (Room Use Reading)
3) Photocopying/Printing Services
4) Circulation Services
5) Issuance of Bid Documents
6) Routine Queries Related to Procurement (Phone-in, Walk-in)
7) Issuance of Notice of Award
8) Issuance of Notice to Proceed
9) Posting of Performance Security (For Surety Bond and For Manager’s Check/Cash)
10) Release of Perfected Contracts/Purchase Orders/Work Orders

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Table of Contents

Library Services — Reference Queries


Schedule of availability of service : Monday to Friday, except holidays and during its periodic inventory, 8:00 AM to 5:00 PM
Who may avail of the service : General Public
What are the requirements : None
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Client phones-in through Proceeds with reference in- 1 minute Library Specialist / None Client Assistance
584-5994/584-0923 loc 253 terview and fills out Client Library Assistant Form
Assistance Form
Client e-mails in queries
through the
lrid@sec.gov.ph

Client walks-in and asks


library personnel for queries
2 Validates inquiry, availability 3 minutes -do- None
of information, and mode of
delivery, as per necessary.
3 Provides material or infor- 1 minute -do- None
mation, if available. Provides
alternatives and recommen-
dations.
END OF TRANSACTION

Human Resource and Administrative Department P a g e 312


Table of Contents

Library Services — Access to Library Resources (Room Use Reading)


Schedule of availability of service : Monday to Friday, except holidays and during its periodic inventory, 8:00 AM to 5:00 PM
Who may avail of the service : General Public
What are the requirements : None
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Proceeds to the catalog or Provides assistance in the 2 minutes Library Specialist / None
the computer database use of the catalog or the Library Assistant
for access to library collec- computer database, as
tion. necessary.

Asks assistance from the Proceeds with reference in- 1 minute


library personnel for materi- terview. Validates inquiry
al/s needed or other refer- and availability of infor-
ence inquiries mation.
2 Fills out Client Assistance Locates and provides need- 2 minutes -do- None Client Assistance
Form ed material/s; answers refer- Form
ence queries
3 Proceeds to reading area Provides follow-on assistorial 1 minute -do- None
service to the client, as nec-
essary
END OF TRANSACTION

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Library Services — Photocopying/Printing Services


Schedule of availability of service : Monday to Friday, except holidays and during its periodic inventory, 8:00 AM to 5:00 PM
Who may avail of the service : General Public
What are the requirements : None
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Locates material for print- Receives material for print- 2 minutes Library Specialist / Client Assistance
ing/photocopying ing/photocopying from cli- Library Assistant Form
ent

Asks assistance from the Proceeds with reference in- 1 minute


library personnel for materi- terview. Validates inquiry
al/s needed. and availability of material.
Locates and provides need-
ed material/s.
2 Fills out Photocopying Slip Validates photocopying/ 5 minutes -do- Payment Assess-
printing request is within ment Form (PAF)
copyright Fair Use Policy.
Issues Payment Assessment
Form (PAF).
Proceeds to prepare re-
quest.
3 Proceeds to Cashier Receives payment and is- 5 minutes Cashier P5.00 per page
sues OR
4 Upon payment, presents Fills out Client Assistance 1 minute Library Specialist / Client Assistance
proof of payment, and Form and turns over the re- Library Assistant Form
submits the validated PAF quested documents
END OF TRANSACTION

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Library Services — Circulation Services


Schedule of availability of service : Monday to Friday, except holidays and during its periodic inventory, 8:00 AM to 5:00 PM
Who may avail of the service : SEC Employees (regardless of employment status)
What are the requirements : SEC Employee ID, Note of Authorization if borrowing for someone else
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Proceeds to the catalog or Provides assistance in the 2 minutes Library Specialist / None
the computer database use of the catalog or the Library Assistant
for access to library collec- computer database, as per
tion. necessary.

Asks assistance from the Proceeds with reference in- 1 minute


library personnel for materi- terview. Validates inquiry
al/s needed or other refer- and availability of infor-
ence inquiries mation.
2 Locates and provides need- 2 minutes -do- Client Assistance
ed material/s; answers refer- Form
ence queries. Fills out Client
Assistance Form.
3 Fills out Book Card and re- Provides follow-on assistorial 1 minute -do- Respective materi-
ceives material service to the client, as nec- al’s book card
essary.
4 Stamps due date on book 2 minutes -do-
card. Record and files the
book card and records
transaction in the Borrower’s
Logbook
5 Returns or renews material 1 minute -do-
after two weeks
END OF TRANSACTION

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Issuance of Bid Documents


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : Prospective Bidders/Vendors/Suppliers
What are the requirements :
1) Payment for the Bidding Documents
2) Letter of Intent (for Consultancy projects)
3) Proof of Invitation/Letter of Intent (for projects to be undertaken thru Negotiated Procurement/Consultancy)
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Approaches anyone from Issues Order of Payment 1 minute PD Staff None Order of Payment
the Procurement Division Form
(PD)
2 Fills out Order of Payment Issues Payment Assessment 5 minutes Procurement Spe- Payment Assess-
Form and submits to the Form (PAF) cialist ment Form (PAF)
Procurement Specialist
3 Pays for the Bidding Docu- Receives payment and is- 10 minutes Cashier P500.00-P10,000.00
ments at the Cashier’s Of- sues OR
fice
4 Presents Official Receipt Photocopies the OR and 2 minutes Project Facilitator
(OR) to Project Facilitator issues the Bidding Docu-
ments
END OF TRANSACTION

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Table of Contents

Routine Queries (Phone-in, Walk-in)


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : General Public
What are the requirements : None
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Asks the Procurement Divi- Answers queries/refers the 5 minutes** PD Personnel/ None None
sion (thru phone/personal) queries to the facilitator/s of
Project Facilitator
the project*
END OF TRANSACTION

*Observing the restrictions/limitations of information provided by law (RA 9184 and its IRR/GPPB Policies & Resolutions)
**Depends on the channel used by the client

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Issuance of Notice of Award


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : Winning Bidder
What are the requirements : Identification Card/Any proof of authorization to receive the document
How to avail of the service : Visit the Procurement Division at HRAD, 4th Floor, SEC Bldg., EDSA Greenhills, Mandaluyong City

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Approaches anyone from Prepares the Notice of 1 minute PD Staff/ None None
the Procurement Division Award (NOA) for release
Project Facilitator
(PD)
2 Signs in the logbook and Releases NOA 3 minutes -do-
the receiving copy of NOA
END OF TRANSACTION

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Issuance of Notice to Proceed


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : Winning Bidder
What are the requirements : Identification Card/Any proof of authorization to receive the document
How to avail of the service : Visit the Procurement Division at HRAD, 4th Floor, SEC Bldg., EDSA Greenhills, Mandaluyong City

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Approaches anyone from Prepares the Notice to Pro- 1 minute PD Staff/ None None
the Procurement Division ceed (NTP) for release
Project Facilitator
(PD)
2 Signs in the logbook and Releases NTP 3 minutes -do-
the receiving copy of NTP
END OF TRANSACTION

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Table of Contents

Posting of Performance Security


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : Bidders/Vendors/Suppliers
What are the requirements : None
How to avail of the service : Visit the Procurement Division at HRAD, 4th Floor, SEC Bldg., EDSA Greenhills, Mandaluyong City

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
For Surety Bond
1 Approaches anyone from For Surety Bond: 2 minutes PD Staff/ None None
the Procurement Division
Receives the bond and files Project Facilitator
(PD)
with other pertinent docu-
ments of the project
END OF TRANSACTION
For Manager’s Check/Cash
1 Approaches the Procure- Issues Payment Assessment 1 minute Procurement Spe- None Payment Assess-
ment Specialist Form (PAF) cialist ment Form
2 Pays the bond/deposits the Receives payment and is- 10 minutes Cashier Depends on the Ap- OR
check in the Cashier Office sues OR proved Budget of the
Contract (ABC)
3 Presents the Official Re- Photocopies the Official Re- 1 minute PD Staff/ None None
ceipt to PD ceipt for documentation
Project Facilitator
END OF TRANSACTION

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Release of Perfected Contracts/Purchase Orders/Work Orders


Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM
Who may avail of the service : Winning Bidder
What are the requirements : Identification Card/Any proof of authorization to receive the document
How to avail of the service : Visit the Procurement Division at HRAD, 4th Floor, SEC Bldg., EDSA Greenhills, Mandaluyong City

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Approaches anyone from Prepares the perfected con- 1 minute PD Staff/ None None
the Procurement Division tract/purchase order (PO)/
Project Facilitator
(PD) work order (WO)
2 Signs in the logbook and Releases the contract/PO/ 1 minute -do-
the receiving copy WO
END OF TRANSACTION

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Table of Contents

Financial Management Department

1) Prepares and submits the Commission’s budget documents and financial reports to oversight agencies;
2) Allocates, processes, and releases SEC funds to different programs, projects and activities (PAPs);
3) Processes and releases payments and claims to, and remittances for all SEC employees and creditors;
4) Collects all SEC income from its clientele and deposits the same to the National Treasury on the following working day;
5) Serves as custodian of promissory notes of registered commercial paper issuers and deposit substitutes of multinationals and other foreign
corporations doing business in the Philippines;
6) Pre-audits all disbursements as to accuracy and compliance with rules and regulations on disbursements;
7) Confirms GSIS loan applications;
8) Reconciles subsidiary ledgers against the general ledger;
9) Manages and operates the Provident Fund;
10) Processes requests for refunds of filing fees, and application/utilization and transfer of payments of the same corporation as recommended
by the operating departments;
11) Processes requests for authentication of official receipts;
12) Performs such other functions as may be directed by the Chair and Commissioners.

LIST OF FRONTLINE SERVICES:

1) Purchase of PIN Mailer


2) Purchase of Service Stamps
3) Payment of Fees for Registration Transaction
4) Payment of Fees for Non-Registration Transaction

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Purchase of PIN Mailer


Schedule of availability of service : Monday to Friday, 7:30 AM to 5:00 PM (no noon break)
Who may avail of the service : Walk-in public clients/customers
What are the requirements : Fully accomplished Purchase Order Slip (POS) and payment
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Gets priority service num- 5 seconds Guard on duty Purchase Order Slip
ber and fills-up completely (cashier area) (POS)
the Purchase Order Slip
(POS)
2 Waits for the queuing num- No definite time for it
ber to be served depends on the num-
ber of transactions of
the clients being
served
3 Pays to the cashier with Processes payment and is- 8 minutes Cashier P100.00 each
completely filled-up POS sues official receipt (OR) to-
gether with the PIN Mailer
END OF TRANSACTION

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Purchase of Service Stamp


Schedule of availability of service : Monday to Friday, 7:30 AM to 5:00 PM (no noon break)
Who may avail of the service : Walk-in public clients/customers
What are the requirements : Payment
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Pays directly to the cashier Processes payment and is- 2 seconds Cashier P100.00 each service
without need of priority ser- sues service stamp stamp
vice number and POS
END OF TRANSACTION

Payment of Fees for Registration Transaction


Schedule of availability of service : Monday to Friday, 7:30 AM to 5:00 PM (no noon break)
Who may avail of the service : Filer/s or company representative/s
What are the requirements : Payment Assessment Form (PAF) and payment
How to avail of the service :
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Gets priority service num- 5 seconds Guard on duty None
ber (cashier area)
2 Waits for the queuing num- Processes payment by en- 5 minutes Cashier Depends on type of PAF
ber to be served coding the PAF number in transaction
the SEC i-Report Cashiering
Module. If in order, issues
official receipt, and returns
the machine-validated PAF
to the client
3 Returns to the concerned
department
END OF TRANSACTION

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Table of Contents

Payment of Fees for Non-Registration Transaction


Schedule of availability of service : Monday to Friday, 7:30 AM to 5:00 PM (no noon break)
Who may avail of the service : Company representative/Payer
What are the requirements : Payment Assessment Form (PAF) and payment
How to avail of the service :

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circum-
stances)
1 Gets priority service num- 5 seconds Guard on duty None
ber (cashier area)
2 Waits for the queuing num- No definite time for it Cashier
ber to be served depends on the num-
ber of transactions of
the clients being
served
3 Pays to the Cashier with Processes payment by en- 5 minutes -do- Depends on type of PAF
PAF form issued by the coding the PAF number in transaction
concerned operating de- the SEC i-Report Cashiering
partment Module. If in order, issues
official receipt, and returns
the machine-validated PAF
to the client
4 Returns to the concerned
department
END OF TRANSACTION

Financial Management Department P a g e 325


Table of Contents

ANNEXES

SEC Citizen’s Charter 2017 P a g e 326


Table of Contents

ANNEX A
MUTUAL FUND DISTRIBUTOR

CHECKLIST OF REQUIREMENTS

1) Cover Sheet
2) Application Form
3) Application (and supporting documents) for:
a) at least 1 Compliance Officer/Associated Person; and
b) at least 1 Certified Investment Solicitor
4) Cover letter, signed by the President, identifying the:
 Names
 Certificate of Registration Numbers
 Tax Identification Numbers of the applicant’s CIS
5) Photocopy of the current Distribution Agreement
 between the ICA/MFD and the applicant
 certified by the AP/CO
 valid for the whole licensing year
6) Written undertaking
 containing the conditions set by the SEC (with format)
 signed by an authorized officer of the applicant
 under oath
7) Amended Written Supervisory Procedures
 to include procedures under the Distribution Agreement
8) Monitoring Clearance from appropriate Department/Division, if applicable
9) Others

Notes:
 Submit original + 3 copies
 Use size A4 bond paper
 All documents executed abroad should be authenticated by the Philippine Embassy or Consular Office
 Only applications which are complete and compliant in form and substance shall be issued the Payment Assessment Form

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Table of Contents

ANNEX B
BROKER DEALER IN SECURITIES

CHECKLIST OF REQUIREMENTS

1) Cover Sheet
2) Application Form (SEC Form 28-BD/28-BDA)
3) Application (and supporting documents) for:
a) at least 1 Associated Person; and
b) at least 1 Salesman
4) Continuing authorization for the Commission’s duly authorized representative to verify all of the applicant’s bank accounts
5) Proof of compliance with paid up capital requirements pursuant to SRC Rule 28.1.2.5.2
6) Certified True Copy of valid work permit of foreigners who are employees or officers of the applicant corporation duly issued by the Department of Labor and Em-
ployment (DOLE) or any appropriate agency
7) Copies of identity cards/passports of:
a) Individual applicants
 Associated Person
 Salesman
b) Officers
c) Directors
d) Persons who control more than 10% of a class of voting securities of applicant
1) Written Supervision and Control Procedures, including procedures for establishing and maintaining a “Chinese Wall” in accordance with SRC Rule 34.1 par. 2; tak-
ing into consideration the applicable requirements under the Anti-Money Laundering Act of 2001 (RA 9160 AA) and the Revised Code of Corporate Governance
(SEC MC 6, S 2009)
2) Schedule of minimum commission charges as required by SRC Rule 30.2 par.5
3) Calculation of net capital requirements in accordance with SRC Rule 28.1.2.5.2 and SRC Rule 49.1.1.5 OR any other financial ratio/measure which the Commission
may mandate in the future
4) Certified True Copy of educational, professional/technical or other academic qualification (SEC Form-Bio Data) of:
a) Directors
b) Officers
c) Associated Person/s
d) Salesman/men
with 2 pcs. 2x2 current ID picture
 attached to the original & a copy of the Bio Data
 stapled at the top edge dorsal side of each picture must contain the printed name & signature of the Director/Officer/ Associated Person/
Salesman
12) Latest Audited Financial Statements
13) Where applicant has been in existence for more than one year, certified copies of Income Tax Returns for the 2 years preceding date of application
Detailed description of Organizational and Functional charts, the names and designations of the officers, including branch offices

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Table of Contents

ANNEX B
BROKER DEALER IN SECURITIES (continuation)

12) Detailed description of Organizational and Functional charts, the names and designations of the officers, including branch offices
13) If applicant is a corporation, certified copy of the following documents:
 signed by the Corporate Secretary
 under oath
a) With respect to a foreign corporation, certificate that the Board of Directors has authorized, in a resolution, the President and Corporate Secretary to sign
an irrevocable consent to service of process upon the Commission as service to the corporation
b) Articles of Incorporation indicating that the purpose of the applicant is to engage in the business of a Broker Dealer
c) Board Resolution attesting to particulars contained in the application
16) Business Plan regarding proposed and/or current operations, including projected volume of business; should reflect applicant’s ability & plans to engage in profit-
able level of business
17) A yearly schedule/timetable on the implementation of the training program for the staff, which specifies, among others,
 the description of the training program
 date of implementation
 name of participants
in accordance with SRC Rule 30.2 D
18) If the applicant is not a member of or participant in an SRO, or has not applied for such membership or participation therein, a written undertaking that he will be-
come a member or participant in an SRO in the near future
19) List of the
 Board of Directors,
 Officers, &
 Employees
 identifying respective positions
 signed by the applicant’s President
20) Manual on Corporate Governance
21) Manual on Anti Money Laundering
22) Risk Management Manual and Internal Control Procedures
23) Business Continuity and Disaster Recovery Plan
24) Comprehensive Information Technology Plan
25) Board Resolution on the Adoption of the Manuals
26) Copies of proposed contract of any activities or services that are being outsourced
27) All documents required for incorporation/ Filing of Amended Articles of Incorporation/Certificate of Increase in Capital Stock
28) Monitoring Clearance from appropriate Department/Division, if applicable

Notes:
 Submit original + 3 copies
 Use size A4 bond paper
 All documents executed abroad should be authenticated by the Philippine Embassy or Consular Office
 Only applications which are complete and compliant in form and substance shall be issued the Payment Assessment Form

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Table of Contents

ANNEX C
INVESTMENT HOUSE/INVESTMENT HOUSE engaged in dealing Government Securities / UNDERWRITER OF SECURITIES engaged in
dealing Government Securities

CHECKLIST OF REQUIREMENTS

1) Cover Sheet
2) Application Form (IHU/IHU-A)
3) Application (and supporting documents) for:
a) at least 1 Compliance Officer; and
b) at least 1 Certified Investment Solicitor
4) Continuing authorization for the Commission’s duly authorized representative to verify applicant’s bank accounts. The authorization shall be for all banks
wherein accounts are maintained by the applicant, its subsidiaries and affiliates and persons under common control with or by the applicant
5) Proof of compliance with minimum capital requirements
6) Bio-data of current Directors and Officers
 using the prescribed format
 notarized
 with 2x2 ID picture
7) Registration approval from the BI of resident foreign Directors and Officers, if any
8) Valid Work Permit from the DOLE of all foreign Stockholders, Officers and other foreigners connected in any capacity with the applicant
9) Written Supervision and Control Procedures, including procedures to ensure compliance with PD 129 (IH Law), its IRR and other applicable rules pertaining
to IH, and the SRC, including procedures for establishing and maintaining a “Chinese Wall” in accordance with SRC Rule 34.1-3
10) Latest Audited Financial Statements AND Latest Interim Financial Statements as of the end of the month prior to filing the application
11) Statement justifying its operations, signed by the President
12) Organization Chart, including Branch Offices
13) Certified copy of the Board Resolution attesting to particulars contained in the application
14) Business Plan regarding proposed and/or current operations, including investment direction and volume
15) Where more than 40% of the voting stock of the applicant is owned by foreigners:
 a copy of the Certification from the Embassy of the country of which the applicant is a national attesting to the fact that the laws of that country/
state of the applicant allow Filipino citizens and corporations the same or similar rights
OR
 an authenticated Certification by the authorized official of the appropriate foreign government of that country, attesting to the fact that the laws
of that country/state of the applicant allow Filipino citizens and corporations the same or similar rights

SEC Citizen’s Charter 2017 P a g e 330


Table of Contents

ANNEX C
INVESTMENT HOUSE/INVESTMENT HOUSE engaged in dealing Government Securities / UNDERWRITER OF SECURITIES engaged in
dealing Government Securities (continuation)

16) For foreign applicants:


 Verification that the applicant has an EKB license from the BSP
 A copy the favorable 2nd endorsement from the BSP if the applicant has an EKB license, trust investment management & quasi banking functions
& is a subsidiary of a bank
17) NBI Clearance of Directors and Officers
18) Manual on Corporate Governance
19) Manual on Anti Money Laundering
20) Board Resolution on the Adoption of the Manuals
21) All documents required for incorporation/ Filing of Amended Articles of Incorporation/Certificate of Increase in Capital Stock
22) Monitoring Clearance from appropriate Department/Division, if applicable
23) Others

Notes:
 Submit original + 3 copies
 Use size A4 bond paper
 All documents executed abroad should be authenticated by the Philippine Embassy or Consular Office
 Only applications which are complete and compliant in form and substance shall be issued the Payment Assessment Form

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Table of Contents

ANNEX D
INVESTMENT COMPANY ADVISER

CHECKLIST OF REQUIREMENTS

1) Cover Sheet
2) Application Form (ICA-IA)
3) Application (and supporting documents) for:
a) at least 1 Compliance Officer; and
b) at least 1 Certified Investment Solicitor
4) Continuing authorization for the Commission’s duly authorized representative to verify applicant’s bank accounts
5) Proof of compliance with minimum capital requirements
6) Valid work permit of foreigners connected in any capacity with the applicant
7) Copies of identity cards/passports of:
 Directors
 Officers
 Persons who control more than 10% of a class of voting securities of applicant
8) Written Supervision and Control Procedures, including procedures for establishing and maintaining a “Chinese Wall”
9) Schedule of minimum commission charges
10) Latest Audited Financial Statements
11) Where applicant has been in existence for more than one year, certified copies of Income Tax Returns for the two years preced ing date of application, Organization Chart, including
Branch Offices
12) Certified copy of the following documents, under oath, by the Corporate Secretary
a) With respect to a foreign applicant, Certificate that the Board of Directors has authorized, in resolution, the President and Corporate Secretary to sign an irrevocable con-
sent to service of process upon the Commission as service to the corporation
b) Articles of Incorporation
c) Board Resolution attesting to particulars contained in the application
13) Business Plan regarding proposed and/or current operations, including projected volume of business
14) If the applicant is not a member of or participant in an SRO, or has not applied for such membership or participation therein, a written undertaking that he will become a member or
participant in an SRO in the near future
15) Management and Distribution Agreement/s
16) Manual on Corporate Governance
17) Manual on Anti Money Laundering
18) Board Resolution on the Adoption of the Manuals
19) Proof of financial capacity of stockholders
20) All documents required for incorporation/ Filing of Amended Articles of Incorporation/Certificate of Increase in Capital Stock
21) Monitoring Clearance from appropriate Department/Division, if applicable
22) Others

Notes:
 Submit original + 3 copies
 Use size A4 bond paper
 All documents executed abroad should be authenticated by the Philippine Embassy or Consular Office
 Only applications which are complete and compliant in form and substance shall be issued the Payment Assessment Form

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock Basic Requirement: A. Corporation with Par Value

1) Cover Sheet Filing fee for Increase of Capital Stock -


2) Certificate of Increase of Capital Stock
3) Treasurer’s Affidavit 1/5 of 1% of the increase in capital stock or the sub-
4) Amended Articles of Incorporation scription price of the subscribed capital stock
5) Director’s Certificate whichever is higher but not less than P3,000; plus
6) Notarized List of Stockholders of record as of date of meeting approv-
ing the increase certified by the Corporate Secretary Legal research fee – 1% of the amount of filing fee;
7) Notarized Secretary’s Certificate on no pending case of intra- plus
corporate dispute
8) Notarized Secretary’s Certificate on waiver of non-subscribing stock- Amended Articles of Incorporation – P1,000 plus LRF
holders
b. Corporation without Par Value
Additional Requirements depending on the Mode of Payment:
Filing fee for Increase of Capital Stock -
A. Cash Payment:
1/5 of 1% of the increase in capital stock comput-
1) Subscription Contract. Except: ed at P100 per share or the subscription price of
a) listed companies the subscribed capital stock whichever is higher
b) Public companies defined in the Securities Regulation Code but not less than P3,000; plus
c) companies that offer or sell securities to the public
d) where the payment to the subscription to the increase is more than Legal research fee – 1% of the amount of filing fee
FIFTY MILLION PESOS (P50,000,000.00)
Amended Articles of Incorporation – P1,000 plus LRF
Otherwise:

2) Special Audit Report in accordance with Memorandum Circular No.


6 Series of 2008: Guidelines on On-site Verification; or
3) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC if cash payments on subscription to the in-
crease were reflected therein

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock B. Conversion of Liabilities / Advances into Equity A. Corporation with Par Value

1) Special Audit Report in accordance with Memorandum Circular No. Filing fee for Increase of Capital Stock -
6 Series of 2008: Guidelines on On-site Verification
2) Deed of Assignment of Advances 1/5 of 1% of the increase in capital stock or the sub-
scription price of the subscribed capital stock
C. Stock Dividend whichever is higher but not less than P3,000; plus

1) List of stockholders as of record date, if date is other than the date of Legal research fee – 1% of the amount of filing fee;
stockholders meeting plus
2) Notarized Secretary’s Certificate certifying that on the basis of the
computation of the Finance Officer, the allocation of stock dividend Amended Articles of Incorporation – P1,000 plus LRF
as indicated in the list of stockholders of record is in proportion to the
shareholdings of stockholders as of date of declaration / record date b. Corporation without Par Value
and the treatment of resulting fractional shares (if any) are true and
correct Filing fee for Increase of Capital Stock -
3) Reconciliation of Retained Earnings in accordance with Memoran-
dum Circular No. 11 of 2009 1/5 of 1% of the increase in capital stock comput-
4) Notarized Secretary’s Certificate of the Board Resolution as to the re- ed at P100 per share or the subscription price of
versal of appropriated retained earnings to unappropriated, if appli- the subscribed capital stock whichever is higher
cable but not less than P3,000; plus

D. Real Property in the form of Land/ Building / Condominium Legal research fee – 1% of the amount of filing fee

1) Detailed schedule of real property showing its registered owner, loca- Amended Articles of Incorporation – P1,000 plus LRF
tion, area, TCT/CCT No., Tax Declaration No. and the basis of transfer
value
2) Certified true copy/ies of TCT/CCT and Tax Declaration Sheets
3) Latest zonal valuation certified by BIR, if transfer value is based on
zonal value
4) Appraisal report by a licensed real estate appraiser (not more than 6
months old), if transfer value is based on appraised value
5) Deed of Assignment of Property

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock 6) Mortgagee/creditor’s certification on the outstanding loan balance A. Corporation with Par Value
and creditor’s written consent to the transfer of the property to the
Corporation (if property is mortgaged) Filing fee for Increase of Capital Stock -
7) Lease Contract on the land and consent of the land owner to the
transfer (for assignment of buildings where the assignor is not the own- 1/5 of 1% of the increase in capital stock or the sub-
er of the land) scription price of the subscribed capital stock
8) Affidavit of undertaking by an officer of the corporation to submit whichever is higher but not less than P3,000; plus
proof of transfer within the prescribed period
Legal research fee – 1% of the amount of filing fee;
E. Untitled Lands plus

Amended Articles of Incorporation – P1,000 plus LRF


F. Shares of Stock
b. Corporation without Par Value
1) Detailed Schedule of the shares of stock indicating the stockholder,
stock certificate number, number of shares held and the basis of the Filing fee for Increase of Capital Stock -
transfer value (Market or Book Value)
2) Audited Financial Statements of the investee company as of the last 1/5 of 1% of the increase in capital stock comput-
fiscal year duly stamped received by BIR and SEC ed at P100 per share or the subscription price of
3) Deed of Assignment of shares of stock to the corporation the subscribed capital stock whichever is higher
4) Certification by the Corporate Secretary of the investee company but not less than P3,000; plus
that the shares are outstanding in the name of the assignor
5) Photocopy(ies) of the stock certificate (present original for verifica- Legal research fee – 1% of the amount of filing fee
tion)
6) Latest market quotation in the newspaper or certification from the Amended Articles of Incorporation – P1,000 plus LRF
stock exchange / broker as to the latest market price of the shares of
stock (if same are listed in the stock exchange)
7) Affidavit of undertaking to submit the required proof of transfer within
the prescribed period

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock G. Inventories / Furniture / Personal Properties A. Corporation with Par Value

1) Detailed schedule of property showing its description and the basis of Filing fee for Increase of Capital Stock -
transfer value (market value or value)
2) Special audit report by an independent CPA on the verification and 1/5 of 1% of the increase in capital stock or the sub-
valuation or property, if transfer value is based on book value scription price of the subscribed capital stock
3) Appraisal report by a licensed appraiser, if transfer value is based on whichever is higher but not less than P3,000; plus
market value (not more than 6 months old)
4) Deed of Assignment of property to the corporation Legal research fee – 1% of the amount of filing fee;
5) Affidavit by transferor that the property is existing and in good condi- plus
tion
Amended Articles of Incorporation – P1,000 plus LRF
H. Motor Vehicles
b. Corporation without Par Value
1) Detailed schedule of the motor vehicles showing the registered own-
er, make/model, plate number, chassis number, motor number, Filing fee for Increase of Capital Stock -
certificate of registration number and market value
2) Photocopy(ies) of certificate of registration and official receipt of an- 1/5 of 1% of the increase in capital stock comput-
nual registration fee (present original for verification) ed at P100 per share or the subscription price of
3) Appraisal report by a licensed mechanical engineer (not than 6 the subscribed capital stock whichever is higher
months old) but not less than P3,000; plus
4) Deed of Assignment of motor vehicles to the corporation
5) Affidavit of undertaking by an officer of the corporation to submit the Legal research fee – 1% of the amount of filing fee
required proof of transfer within the prescribed period
Amended Articles of Incorporation – P1,000 plus LRF
I. Heavy Equipment and Machineries

1) Detailed schedule of the property showing its description and the


transfer value
2) Appraisal report by a licensed mechanical engineer (not more than 6
months old). If the property is imported, valuation report by the
Bangko Sentral ng Pilipinas should be submitted instead
3) Deed of Assignment of Property to the Corporation

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock J. Sea Vessel/Aircraft A. Corporation with Par Value
1) Detailed schedule of vessel/aircraft showing registered owner, registry
number, technical description and appraised value certified by the Filing fee for Increase of Capital Stock -
company accountant.
2) Certified true copy of the certificate of ownership 1/5 of 1% of the increase in capital stock or the sub-
3) Appraisal report by authorized appraiser (not more than 6 month old) scription price of the subscribed capital stock
4) Certificate of seaworthiness / airworthiness issued by appropriate whichever is higher but not less than P3,000; plus
government agency
5) Deed of Assignment Legal research fee – 1% of the amount of filing fee;
6) Affidavit of undertaking by an officer of the corporation to submit the plus
required proof of transfer within the prescribed period.
Amended Articles of Incorporation – P1,000 plus LRF
K. Intangibles
b. Corporation without Par Value
1) Photocopy of System Purchase Agreement or any proof of ownership
(for software) Filing fee for Increase of Capital Stock -
2) Copy of Certificate of Registration of Intellectual Property Rights and
mining permit for mining claims / rights 1/5 of 1% of the increase in capital stock comput-
3) Appraisal report by an accredited appraisal company or by a li- ed at P100 per share or the subscription price of
censed Filipino mining engineer for mining claims / rights (not more the subscribed capital stock whichever is higher
than 6 months old) but not less than P3,000; plus
4) Deed of Assignment
5) Affidavit of undertaking by an officer of the company to submit proof Legal research fee – 1% of the amount of filing fee
of transfer of ownership within the prescribed period
Amended Articles of Incorporation – P1,000 plus LRF
L. Net Assets (by way of conversion of single proprietorship / partnership
into corporation or by spin off)

1) Audited Financial statements (AFS ) of the applicant corporation as


of the last fiscal year stamped received by BIR and SEC
2) Audited Financial statements of single proprietorship / partnership /
division of corporation (for spin-off) as of the last fiscal year
3) Long-form audit report of item no. 2
4) Deed of Assignment of the assets and liabilities

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
I. Amended Articles of Incorporation (Art. VII)
Increase of Capital Stock 5) List of creditors with the amount due to each creditor as of date of
the AFS certified by the auditor or certified under oath by the compa-
ny accountant and written consent of creditors
6) Detailed schedule of properties with certificate of registration/titles
and their respective book values certified by the company account-
ant
7) Photocopy of the certificate of registration of the motor vehicles
(present original for verification)
8) Copy of TCT/CCT and tax declaration sheets certified by the Register
of Deeds and Assessor’s Office, respectively
9) Photocopy of stock certificates (present original for verification)
10) DTI Certificate of Registration (for single proprietorship)
11) Affidavit of undertaking by an officer of the corporation to submit the
required proof of transfer within the prescribed period.

Decrease of Authorized 1) Cover sheet A. Return of Capital – P5,000


Capital Stock 2) Certificate of Decrease of Capital Stock B. All Others – P3,000
3) Director’s Certificate
4) Amended Articles of Incorporation Plus Legal research fee – 1% of the amount of filing
5) List of stockholders of record before and after the decrease certified fee
under oath by the Corporate Secretary
6) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC
7) Long-form audit report of item no. 5 (if it involves return of capital)
8) Publisher’s affidavit (once in a newspaper of general circulation)
9) Notarized Secretary’s Certificate on pending intra-corporate dispute

Reclassification / Conver- 1) Director’s Certificate P2,000


sion / Change of Par Value 2) Amended Articles of Incorporation
3) List of stockholders before and after the reclassification / conversion / Plus Legal research fee – 1% of the amount of filing
change in par value fee
4) Notarized Secretary’s Certificate on pending intra-corporate dispute
5) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
2. Other Applications
a) Confirmation of Valua- Basic Requirements: 1/5 of 1% of the value of shares of stock to be is-
tion or Exempt Transaction sued but not less than P3,000
Note: for additional issu- 1) SEC Form 10.1 or Letter requesting for valuation
ance of shares with Pay- 2) Secretary’s Certificate on BOD’s resolution re: approval of additional Plus Legal research fee – 1% of the amount of filing
ment on Subscription is issuance of shares fee
other than Cash) 3) List of stockholders with their nationalities, amount subscribed and
paid-up and subscribers to the new shares certified under oath by
the Corporate Secretary

Additional Requirements:

Please refer to the list of additional requirements for Increase in Au-


thorized Capital Stock depending on the mode of payment.

b) Property Dividend Dec- 1) Cover Sheet 1/5 of 1% of the amount declared but not less than
laration 2) Certification under oath by the Corporate Secretary on the board of P5,000
directors resolution’ declaring the property dividend
3) Audited Financial Statements as of the last fiscal year stamped re- Plus Legal research fee – 1% of the amount of filing
ceived by BIR and SEC fee
4) List of stockholders with their respective subscribed capital stock as of
the date meeting approving the declaration of property dividend
together with the allocation of dividend certified under oath by the
Corporate Secretary
5) Detailed schedule of the property account appearing in the audited
financial statements
6) Certification by the President that the property is no Longer needed
in the operation of the company
7) Reconciliation of RE available for dividend declaration
8) Notarized Secretary’s Certificate on no pending case involving intra-
corporate dispute

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
2. Other Applications
c) Quasi Re-organization 1) Cover Sheet
2) Letter requesting approval to undergo quasi- reorganization
3) Certification under oath by the Corporate Secretary on the board of
directors resolution approving the quasi-reorganization
4) Appraisal report of the fixed assets (real properties, permanently in-
stalled fixed assets and machineries and equipment directly needed
and actually used in the business), if appraisal increment not yet re-
flected in the audited financial statements
5) Audited financial statements as of the last fiscal year stamped re-
ceived by BIR and SEC
6) Schedule showing the details of the appraised properties certified by
the company accountant
7) Analysis of the revaluation increment certified by the company ac-
countant
8) Projective financial statements for the next five (5) years certified by
the company accountant
9) Certification by the President that the appraised properties are di-
rectly needed and actually used in business
10) Notarized Secretary’s Certificate on no pending case involving intra-
corporate dispute

d) Equity Restructuring 1) Cover Sheet A. To wipe out existing deficit


2) Letter requesting approval for the creation of additional paid-in capi-
tal P5,000
3) Certification under oath by the Corporate Secretary on the Board of
Directors resolution approving the creation of additional paid-in capi-
tal (APIC) Plus Legal research fee – 1% of the amount of filing
4) List of stockholders of record as of date of Board of Directors meeting fee
approving the creation of APIC, indicating their nationalities and their
respective subscribed and paid-up certified under oath by the Cor-
porate Secretary
5) Notarized Secretary’s Certificate on no pending case of intra-
corporate dispute
6) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
2. Other Applications
e) Creation of Additional 1) Cover Sheet 1/5 of 1% of the amount infused but not less than
Paid-in Capital 2) Letter requesting approval for the creation of additional paid-in capi- P5,000
tal
3) Certification under oath by the Corporate Secretary on the Board of Plus Legal research fee – 1% of the amount of filing
Directors resolution approving the creation of additional paid-in capi- fee
tal (APIC)
4) List of stockholders of record as of date of Board of Directors meeting
approving the creation of APIC, indicating their nationalities and their
respective subscribed and paid-up certified under oath by the Cor-
porate Secretary
5) Notarized Secretary’s Certificate on no pending case of intra-
corporate dispute
6) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC

f) Dissolution 1) Cover Sheet A. Stock Corporations


2) Director’s Certificate
3) Amended Articles of Incorporation P1,000
4) Audited financial statements (AFS) as of last fiscal year, except –
i. Where the applicant has ceased operations for at least one B. Non-Stock Corporations
(1) year, it shall submit:
a) Audited Financial Statements as of last fiscal year P500
of operation; and
b) Affidavit of non-operation certified under oath by Plus Legal research fee – 1% of the amount of filing
the President and Treasurer fee
ii. Where the applicant has no operation since incorporation,
it shall submit:
a) Balance Sheet certified under oath by the Treas-
urer and President
b) Affidavit of non-operation certified under oath by
the President and Treasurer
c) Certificate of non-registration issued by the BIR

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
2. Other Applications
f) Dissolution iii. Where the applicant is a stock corporation with paid-up of A. Stock Corporations
less than P50,000, it shall submit its Balance Sheet as of last
preceding fiscal year certified under oath by the Presi- P1,000
dent and Treasurer.
iv. Where the applicant is a non-stock corporation with gross B. Non-Stock Corporations
receipts of less than P100,000 or a total assets of less than
P500,000, it shall submit its Balance Sheet as of last pre- P500
ceding fiscal year certified under oath by the President
and Treasurer Plus Legal research fee – 1% of the amount of filing
5) Certification executed under oath by the President and Treasurer cer- fee
tifying that:
a) The dissolution is not prejudicial to the interest of the credi-
tors
b) There is no opposition from any creditors from the time of
the last publication of the notice of dissolution up to the
filing of the application for dissolution with the Commis-
sion.
6) BIR tax clearance certificate
7) Publisher’s Affidavit of publication of notice of dissolution (once a
week for three [3] consecutive weeks)
8) Endorsement/Clearance from other departments or other govern-
ment agencies
9) Notarized Secretary’s Certificate on no pending case involving intra-
corporate dispute

SEC Citizen’s Charter 2017 P a g e 342


Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
III. Merger and Consolidation
Merger of Consolidation 1) Cover Sheet A. In merger, in case of simultaneous filing of appli-
2) Articles of Merger/Consolidation cation for increase of authorized capital stock of the
3) Plan of Merger surviving corporation
4) List of stockholders of record of the constituent corporations indicat-
ing their nationalities and respective subscribed and paid-up capital 1/5 of 1% of the equity of the absorbed corporation/
as of date of meeting approving the merger/consolidation certified s but not less than P3,000
under oath by the Corporate Secretary
5) Certification by the Corporate Secretary on the meeting of the Direc- Filing fee for increase in capital stock or the filing fee
tors and stockholders of the constituent corporations approving the for merger whichever is higher but not less than
merger/consolidation P3,000
6) Audited financial statements of the constituent corporations as of a
date not earlier than 120 days prior to the date of filing of the appli- B. In consolidation where the total equity of corpo-
cation in accordance with PFRS 3 (Accounting Standard on Business rations is different from authorized capital stock of
Combination) the consolidated corporation
7) Long-form audit report of item no. 6 (for absorbed corporation)
8) Certification under oath by any of the President, Chief Finance Officer 1/5 of 1% of total equity of the constituent corpora-
or Treasurer of the constituent corporations stating that all the credi- tions or the filing fee for Articles of Incorporation
tors as of cut-off date were informed whichever is higher
9) Publisher’s Affidavit of the merger or consolidation, if one or more of
the constituent corporation(s) is/are insolvent Plus Legal research fee – 1% of the amount of filing
10)Notarized Secretary’s Certificate on no pending case involving intra- fee
corporate dispute
11)List of stockholders of record of the surviving corporation after the
merger

Note:
a) If the surviving company will not issue shares of stock or create addi-
tional paid-in capital disregard item no. 7.
b) If the merger will be effected via increase of capital stock, submit also
the basic requirements for Increase of Capital Stock.
c) For consolidation, submit also the basic requirements for registration of
Stock Corporation.

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
IV. Cash or Stock Dividend Declaration
Cash Dividend 1) Cover Sheet Cash / Stock Dividend Declaration up to P50,000
2) Certification under oath by the Corporate Secretary on the board of declared by the corporation whose securi-
directors resolution declaring cash dividend ties are not listed
3) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC P500.00
4) Audited financial used as the basis for such declaration (to be sub-
mitted also if the basis other than item no. 3) Cash / Stock Dividend Declaration over P50,000
5) Projected income statement for the remaining period (if basis is item declared by the corporation whose securi-
no. 4) ties are not listed
6) Reconciliation of RE available for dividend declaration
7) Secretary’s Certificate re: no intra-corporate dispute P1,000

Stock Dividend 1) Cover Sheet Plus Legal research fee – 1% of the amount of filing
2) Certification under oath by the Corporate Secretary on the declara- fee
tion stock dividends by majority of the directors and the stockholders
representing 2/3 of the outstanding capital stock.
3) Audited Financial Statements as of the last fiscal year stamped re-
ceived by BIR and SEC
4) Audited financial used as the basis for such declaration (to be sub-
mitted also if the basis other than item no. 3)
5) Projected income statement for the remaining period (if basis is item
no. 4)
6) List of stockholders with their respective subscribed capital stock as of
the date meeting approving the declaration of stock dividend to-
gether with the allocation of stock dividend certified under oath by
the Corporate Secretary
7) Analysis of Capital Structure certified under oath by the Treasurer
8) Reconciliation of RE available for dividend declaration
9) Secretary’s Certificate re: no intra-corporate dispute

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Table of Contents

ANNEX E
APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE
V. Certification of Paid-up Capital / Capital Structure / Percentage of Foreign Equity
Certification of Paid-up 1) Request for Certification P1,000
Capital / Capital Struc- 2) Audited financial statements as of the last fiscal year Stamped re-
ture / Percentage of For- ceived by BIR and SEC
eign Equity 3) List of stockholders with their respective subscribed and paid-up certi-
fied under oath by the Corporate Secretary
4) Notarized Secretary’s Certificate on no pending case of intra-
corporate dispute
5) Interim Audited Financial Statements stamped received by SEC, if the
additional cash infusion came in after the Balance Sheet date

SEC Citizen’s Charter 2017 P a g e 345

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