Professional Documents
Culture Documents
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
SEC Citizen’s Charter 2017 Page 2
Table of Contents
TABLE OF CONTENTS
Annexes 328
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.
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:
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.
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
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,
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
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
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)
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.
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
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
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
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
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
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)
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
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
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.
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
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
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
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
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
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)
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
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
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
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
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
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.
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
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.
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
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
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
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.
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.
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
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
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
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
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
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
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
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.
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.
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
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
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
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Evaluates the request.
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
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
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
STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
(under normal circumstances)
3 Evaluates the request for
opinion.
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
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.
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
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.
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.
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
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:
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
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:
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
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
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
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
If COMPLETE, go to Step2.3.
If INCOMPLETE, go to Step 2.2
5.3 Go to Step 9.
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.
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
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
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.
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
9 Submits Affidavit of Publi- Receives affidavit and wait for 15 business days
cation complaints. Go to Step 5.2
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
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
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
Table of Contents
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
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
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
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
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
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
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
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
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
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.
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
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
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
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.
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)
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
Table of Contents
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
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
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.
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.
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.
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.
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.
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.
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
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.
Filing Fee:
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
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
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
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
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.
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.
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
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.
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
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.
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
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
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).
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:
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.
If COMPLETE, go to Step
2.3.
If INCOMPLETE, go to Step
2.2
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:
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
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 :
Duration : Twenty-Two (22) business days upon receipt of complete documentary requirements
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 :
Duration : Twenty-Two (22) business days upon receipt of complete documentary requirements
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;
If DENIED/DEFERRED
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 :
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;
If DENIED/DEFERRED
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.
* (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
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
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.
END OF TRANSACTION
** Accountant, Examiner, Specialist, or Support Clerk
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
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
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.
END OF TRANSACTION
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.
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
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
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)
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.
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 :
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 :
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 :
PAYMENT OF PENALTIES
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-
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)
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 :
*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
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
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
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.
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;
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 :
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);
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
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.
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).
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.
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 :
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
Table of Contents
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
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.
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 :
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)
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
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
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
Withdrawal of License of
Foreign Corporations and
Multinational corpora-
tions – P3,000.00 plus Le-
gal Research 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.
END OF TRANSACTION
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)
Stock Representative Office, Non-Stock Branch Office & Non-Stock Representative Office
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
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
RHQ:
P5,000
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
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
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
C. Partnership
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.
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
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
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.
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
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
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.
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
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)
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.
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.
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
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.
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;
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
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 :
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)
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
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
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
Withdrawal of License of
Foreign Corporations and
Multinational corpora-
tions – P3,000.00 plus Le-
gal Research 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.
CRMD Director reviews and 10-15 minutes CRMD Director Printed License
approves the application
END OF TRANSACTION
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)
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
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
RHQ:
P5,000
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
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
6 Complaint/petition official-
ly filed with the CRMD
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
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
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 :
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
15 Claims the Certificate of Reviews and signs the Certifi- 10 minutes Director
Authority cate of Authority
END OF TRANSACTION
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 :
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
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
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 :
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
END OF TRANSACTION
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
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
9 Claims the Certificate of Reviews and signs the Certificate of 10 minutes Director
Authority Authority
END OF TRANSACTION
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 :
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.
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.
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
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)
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)
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
Table of Contents
END OF TRANSACTION
END OF TRANSACTION
3 Reviews the request if it will qualify for re- 15 mins. Assigned Monitor/
duction or installment payment. Specialist
8 Prepares the draft letter Informing the ap- 10 mins. Assigned Monitor/
plicant about the decision of the En banc Specialist
or Supervising Commissioner.
12 Pays the reduced fines or payment of Steps 7 to 11 of the regular monitoring will Monitor
the first installment. be followed.
END OF TRANSACTION
Company Registration and Monitoring Department P a g e 259
Table of Contents
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.
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
END OF TRANSACTION
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
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
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
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
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
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
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
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
END OF TRANSACTION
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
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
END OF TRANSACTION
END OF TRANSACTION
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.
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.
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
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
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 :
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
END OF TRANSACTION
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.
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
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
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.
1.2.2 Pays assessed penalties at the Processes payment and Issues Official 5 minutes Cashier
Cashier Receipt
2 Pays filing fee at the Cashier Processes payment and Issues Official 5 minutes Cashier Please see
Receipt Annex E
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
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.
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
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
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
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.)
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
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
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
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)
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
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
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
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.
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
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
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
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
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
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
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
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
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.
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
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.
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
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.
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
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
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
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
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
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
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.
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
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
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
ANNEXES
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
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
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
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
ANNEX C
INVESTMENT HOUSE/INVESTMENT HOUSE engaged in dealing Government Securities / UNDERWRITER OF SECURITIES engaged in
dealing Government Securities (continuation)
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
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
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
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
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
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
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)
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.
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:
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
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
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
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
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.
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
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