List of SEC Frontline Services 11 · 2017-05-18 · tions with the BIR, SSS, PhilHealth, and Pag-ibig, the SEC is launching the Company Registration System (CRS) by the end of this

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SEC Citizen’s Charter 2017 P a g e 2

Office of the Commission Secretary

PRESS RELEASE

SEC: ONLY GOVERNMENT AGENCY WITH A TOP RATING OF VERY GOOD Still Most Sincere in Anti-Corruption

SEC has ranked best again in the net sincerity ratings of 35 institutions in fighting corruption during the latest 2016 Survey of Enterprises, conducted from 2

February to 6 May 2016. From a range of +69 to -69 points, the SEC is at 55 points, earning a Very Good rating. Others like the DTI is at 43 points, the Office of

the President is at 37 points, and the SSS is at 30 points, all three earning only a Good rating, with a range of +30 to +49 points.

The said survey was conducted by Social Weather Stations (SWS) with support from the Integrity for Investments Initiative (i3) and funding from the United

States Agency for International Development (USAID), and in partnership with the National Competitiveness Council and The Asia Foundation. Random sam-

pling for the said survey was drawn from one-third large enterprises (317 companies) and two-third small and medium enterprises (633 companies), totaling

to 950 companies. Said enterprises were drawn from the ff. areas: Metro Manila (350), Metro Angeles (100), Cavite-Laguna-Batangas (100), Iloilo City (100),

Metro Cebu (100), Metro Davao (100), and Cagayan de Oro-Iligan City (100).

The Commission, in its commitment to improve ease of doing business in the Philippines, continuously strives to meet the expectations from the transacting

public. In addition to the SEC’s Integrated Business Registration System (IBRS) which already allows for the seamless and simultaneous registration of corpora-

tions with the BIR, SSS, PhilHealth, and Pag-ibig, the SEC is launching the Company Registration System (CRS) by the end of this year which will allow the

online registration of corporations and better monitoring of companies through a red flag system.

Per SEC Chairperson Teresita J. Herbosa, the SEC is maximizing automation since it has prevented bribery and has made government transactions much

more convenient to the public. She noted that automation simply means reinventing the Commission so that the SEC may not only deliver faster services to

the public through the use of technology, but also limit face-to-face interactions between its officers and the public to prevent opportunities for graft. The

SEC is likewise very serious in its fight against investment scams through their Enforcement and Investor Protection Department. In Congress, the SEC also sup-

ports legislative initiatives to lift the secrecy of bank deposits especially for securities fraud.

To further bring government services closer to the public, the SEC has opened Satellite Offices in Ali Mall, Robinsons Galleria, SM Manila, SM City North Edsa,

and Robinsons Galleria Cebu, with major cities nationwide to follow.

Per Dir. Ferdinand B. Sales of the SEC’s Company Registration and Monitoring Department, the SEC processed about 25,500 new corporations last year and

regulates about 930,000 corporations, among others. Although the SEC’s earned collections averaged to almost Php 3 Billion per annum for the past 3 years,

it only runs at an average budget of Php 600 Million per year with about 400 employees.

The SEC is an attached agency of the Department of Finance (DOF) which is led by Secretary Carlos G. Dominguez. Sec. Dominguez also heads the Eco-

nomic Management Team (EMT) of the current administration and leads in carrying out our government’s economic policy agenda with anti-corruption initi-

atives.

END

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TABLE OF CONTENTS

SEC Mission, Values and Vision 4

Service Pledge 5

Feedback and Redress Mechanism 5

Directory of SEC Officials 7

List of SEC Frontline Services 11

FRONTLINE SERVICE PROCEDURES

Office of the Commission Secretary (OCS) 34

Office of the General Counsel (OGC) 39

Office of the General Accountant (OGA) 46

Enforcement and Investor Protection Department (EIPD) 72

Markets and Securities Regulation Department (MSRD) 75

Corporate Governance and Finance Department (CGFD) 124

Company Registration and Monitoring Department (CRMD) 173

Information and Communications Technology Department (ICTD) 294

Economic Research and Training Department (ERTD) 305

Human Resource and Administrative Department (HRAD) 313

Financial Management Department (FMD) 324

Annexes 328

Table of Contents


Our Mission, Values, and Vision

We develop and regulate the capital

market and company registration;

promote good corporate govern-

ance; empower investors,

corporators, and entrepreneurs; and

facilitate access to financial products

and resources.

We shall be guided in this mission by

the values of INTEGRITY,

PROFESSIONALISM, ACCOUNTABILITY,

INDEPENDENCE, INITIATIVE, and

TEAMWORK.

By 2022, SEC is the champion of

investor protection; the judicious

administrator of an automated,

reliable and secured company

registration and information systems;

and the progressive overseer of a ro-

bust and inclusive capital market in

the ASEAN and Asia-Pacific Region.

INTEGRITY We are morally upright, honest and sincere in our private and public lives.

PROFESSIONALISM We consistently implement the law, provide timely and accurate information

to investors, and render efficient and competent service to the public in a fair and

transparent manner.

ACCOUNTABILITY We abide by prescribed ethical and work standards in government service.

INDEPENDENCE We act without fear or favor and render sound judgment in the performance of

our duties and responsibilities.

INITIATIVE We are strategic and forward-looking in the fulfillment of our developmental

and regulatory functions including identification and management of risks.

TEAMWORK We engage in internal collaborative activities organized to facilitate

inter-departmental communication and cooperation.

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Service Pledge

Feedback and Redress Mechanism

OUR PLEDGE

We, the officials and employees of the

Securities and Exchange Commission,

guided by our values of INTEGRITY,

PROFESSIONALISM, ACCOUNTABILITY,

INDEPENDENCE, INITIATIVE, and

TEAMWORK, pledge to:

erve you with a smile

nsure efficiency in service delivery,

and

ommit ourselves to address your

complaints, and satisfy you, our dear

clients.

Talk to our officer of the day at the

Human Resource and Administrative

Department, 3rd floor, Secretariat

Bldg., PICC Complex, or through

telephone numbers 818-1119 and

818-7215.

Thank you for helping us improve our

services.

The Department Director shall

address the complaints against the

SEC personnel concerned.

Send your feedback through the

i-Message mo facility in the SEC web-

site.

We value your feedback. Please let us

know how we have served you through

any of the following:

Accomplish our “VISITOR'S PASS and

FEEDBACK FORM” provided by the

guard on duty. Please indicate your

feedback or complaints, and return

the accomplished form to the

frontline service provider or the

guard on duty before leaving the

SEC premises.

FEEDBACK AND REDRESS

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Contact Information of SEC Officials (as of 03 April 2017)

POSITION FULL NAME OFFICE/DEPARTMENT CONTACT NO. E-MAIL ADDRESS

Office of the Chairperson and Commissioners

SEC Chairperson TERESITA J. HERBOSA 818-5343 [email protected]

SEC Commissioner ANTONIETA F. IBE 818-5008 [email protected]

SEC Commissioner EPHYRO LUIS B. AMATONG 818-6857 [email protected]

SEC Commissioner BLAS JAMES G. VITERBO 818-6896 [email protected]

SEC Commissioner EMILIO B. AQUINO 818-8142 [email protected]

Office of the Commission Secretary

Officer-in-Charge ARMANDO A. PAN JR. 888-8141 [email protected]

Office of the General Counsel

SEC General Counsel CAMILO S. CORREA 818-5418 [email protected]

Office of the General Accountant

SEC General

Accountant

EMMANUEL Y. ARTIZA 818-9763 [email protected]

Enforcement and Investor Protection Department

SEC Director JOSE P. AQUINO Office of the Director 818-6337 [email protected]

Officer-in-Charge JONATHAN PANCRACIUS D.

PAGUIRIGAN

Investigation and Prosecution

Division

818-6047

818-5704

[email protected]

SEC Assistant Director OLIVER O. LEONARDO Market Surveillance Division Ortigas: 584-5324 [email protected]

ALFONSO D. LANUZA JR. Special Operations Division 818-7650 [email protected]

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Markets and Securities Regulation Department

SEC Director VICENTE GRACIANO P.

FELIZMENIO JR.

Office of the Director 818-5703 [email protected]

Markets and Intermediaries

Division

818-7164 / 818-8178

Securities Registration Division 818-6080 / 818-8508

SEC Assistant Director EMMA A. VALENCIA Investment Products and

Services Division

818-2016 [email protected]

Corporate Governance and Finance Department

SEC Director JUSTINA F. CALLANGAN Office of the Director 818-6103 [email protected]

SEC Assistant Director RACHEL ESTHER J.

GUMTANG-REMALANTE

Licensing Division 818-5952 [email protected]

SEC Assistant Director ROSARIO CARMELA B.

GONZALEZ-AUSTRIA

Corporate Governance

Division


SEC Assistant Director LEONORA S. TANDOC Monitoring Division 818-5476 / 818-9927 [email protected]

Company Registration and Monitoring Department

SEC Director FERDINAND B. SALES Office of the Director 818-5811 [email protected]

SEC Assistant Director KENNETH JOY A. QUIMIO Corporate and Partnership

Registration Division

818-9225 / 818-0763 [email protected]

Officer-in-Charge SHEARA L. LUPANGO-

TAMAYO

Compliance Monitoring

Division


Officer-in-Charge GLORIA P. MANZON Financial Analysis and Audit

Division


Officer-in-Charge DANIEL P. GABUYO Corporate Filing and Records

Division

818-8738 / 818-8803 [email protected]

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Company Registration and Monitoring Department (continued)

Officer-in-Charge SHEARA L. LUPANGO-

TAMAYO

Licensing Unit 818-7187 [email protected]

Officer-in-Charge SAMPAGUITA R. LADRIDO Green Lane Unit 818-5235 [email protected]

Public Assistance 818-1119 / 818-7215

Information and Communications Technology Department

Officer-in-Charge LILIA O. PINZON Office of the Director Ortigas: 584-7236 [email protected]

SEC Assistant Director GRACE MARTHA T.

AMBERONG

Information Systems

Development and

Management Division

Ortigas: 584-7204 [email protected]

SEC Assistant Director ISMA C. GONZALES Electronic Records

Management Division

Ortigas: 584-5285 [email protected]

HERBERT E. MENDOZA Systems Operation Division Ortigas: 584-7234 [email protected]

Economic Research and Training Department

Officer-in-Charge LILIA O. PINZON Office of the Director 818-6219 [email protected]

SEC Assistant Director ROSE ANN S. ESPIRITU Strategic Management and

Planning Division


SEC Assistant Director VIOLETA V. INFANTE Economic Research and

Statistics Division


SEC Assistant Director JERNEL R. MACATANGAY Training Division 818-7256 [email protected]

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Human Resource and Administrative Department

SEC Director GERARDO F. DEL ROSARIO Office of the Director 818-6165 [email protected]

Human Resource

Management Division

818-6072

818-5714

SEC Assistant Director NOLIVIENNE C. ERMITAÑO Learning Resource and

Information Division

818-5994 ncermitañ[email protected] /

[email protected]

Officer-in-Charge MARCELO Q. RABARA General Services Division 818-5516 / 818-1269 [email protected]

Officer-in-Charge ROSELLER N. CAPILA Procurement Division 818/5826 / 818-5330 [email protected]

Financial Management Department

SEC Director ADELAIDA C. NAVARRO-

BANARIA

Office of the Director 818-6585 [email protected]

Officer-in-Charge LESTER V. DELA MERCED Budget and Fiscal Division 818-5517 [email protected]

Officer-in-Charge DONDIE Q. ESGUERRA Accounting Division 818-6101 / 584-6058 [email protected]

SEC Assistant Director DAISY B. PABUAYA Treasury Division 818-5549 / 818-5825 [email protected]

SEC Extension Offices

Officer-in-Charge REGINA MAY M. CAJUCOM Baguio (074) 442-8170 / 442-8171 [email protected]

SEC Director RENATO V. EGYPTO Cagayan de Oro (088) 857-4325 / 857-7725 [email protected]

SEC Director LINDEZA R. GAVINO Cebu (032) 253-5337 / 253-6987 [email protected]

SEC Director JAVEY PAUL D. FRANCISCO Davao (082) 298-2170 / 298-1983 [email protected]

Officer-in-Charge RUSSELL I. ILDESA Iloilo (033) 337-9984 / 335-0025 [email protected]

SEC Director MARYLOU D. CASTILLO Legaspi (052) 480-8272 [email protected]

Acting Director RICHARD R. LAUS Tarlac City (045) 491-0140 / 491-0102 [email protected]

SEC Director JESUS SALVADOR A. URO Zamboanga (062) 991-7163 / 993-1437 [email protected]

Table of Contents

Frontline Services — PICC Office P a g e 10

List of SEC Frontline Services

FRONTLINE SERVICE FEES

(MC No. 03, series of 2017)

FORMS/REQUIREMENT PROCESSING TIME

(under normal circumstances)

OFFICE/DEPARTMENT

Issuance of Commission En

Banc Resolutions

None Request letter addressed to the

Commission Secretary

27 minutes 3rd floor — Office of the

Commission Secretary (OCS)

Issuance of “Certified True

Copies” (CTC) of

Memorandum Circulars,

Minutes of the Meeting,

and Resolutions

Miscellaneous Fees:

P50 per document plus

P10 per page

Request letter addressed to the


47 minutes 3rd floor — OCS

Issuance of certification on

certain acts of the

Commission



27 minutes 3rd floor — OCS

Media request for

interview, information,

and/or updates



1-2 hours 3rd floor — OCS

Filing of Petition/s or

Appeal/s

P2,020 (inclusive of 1% Legal Re-

search Fee)

1) Petition or Memorandum on

Appeal

2) Supporting documents (please

see 2006 SEC Rules of Proce-

dure)

1-1.5 hours 3rd floor — Office of the

General Counsel (OGC)

Filing of Request for

Legal Opinion

P10,000 1) Request letter for opinion

2) Supporting documents (please

see Memorandum Circular No.

15, s. 2003)

2 hours 3rd floor — OGC

Request for Certified True

Copy (CTC) or plain copy

of documents relating to

cases

For Certified true Copy - P50 per

document plus P10 per page; For

Plain Copy – P10 per page

1) Valid ID

2) Authorization Letter, if necessary

30-40 minutes 3rd floor — OGC

http://www.sec.gov.ph/wp-content/uploads/2015/08/2006_Rules_of_Procedure.pdf

http://www.sec.gov.ph/wp-content/uploads/2015/08/2006_Rules_of_Procedure.pdf

http://www.sec.gov.ph/wp-content/uploads/2016/06/sec-memo-15s2003.pdf

http://www.sec.gov.ph/wp-content/uploads/2016/06/sec-memo-15s2003.pdf

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OFFICE/DEPARTMENT

Public Assistance on Walk-

in/Phone-in Legal Queries

None 1) Valid ID

2) Documents pertinent to the le-

gal query, if any

13-23 minutes 3rd floor — OGC

Accreditation of

Appraisal Companies and

Professional Services

Organization

P10,100 (inclusive of 1% Legal

Research Fee)

Annual Fee: P2,000

Please secure checklist from the

department

Pre-evaluation = 1 hour

Processing = 1 day

Mailing Period = 30 days

3rd floor — Office of the

General Accountant (OGA)

Accreditation of Credit

Rating Agencies


Research Fee)

Annual Fee: P15,000


department


Processing = 1 day


3rd floor — OGA

Request for Exemptive Re-

lief

P50,000 per issue and per

company

1) Request letter for Exemptive

Relief

2) Supporting documents, if any

Pre-evaluation = 20 minutes

Processing = 1-3 days


3rd floor — OGA

Request for Opinion on

Accounting Matters

P25,000 (Filing Fee for complex

issues)

P10,000 (Filing Fee for non-

complex issues)

1) Request letter for Opinion

2) Supporting documents, if any

Pre-evaluation = 20 minutes

Processing = 1-3 days


3rd floor — OGA

Accreditation of External

Auditor/Auditing Firms

Group A: P20,000

Group B: P15,000

Group C: P5,000


department


Processing = 2 days


3rd floor — OGA

Receipt and Filing of Com-

plaint


Research Fee)

1)

with on Non-

Forum

2) documents,

1-2 hours Ground Floor — North Wing —

Enforcement and Investor

Protection Department (EIPD)

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OFFICE/DEPARTMENT

Application for Certificate

of Permit to offer Securities

for Sale and Order of

Registration for Equities,

Debt Securities, REIT

Not more than P500 Million worth

of securities:

0.10% of the maximum

aggregate price of the securities

to be offered More than P500 Million but not

more than P750 Million:

P500,000 plus 0.075% of the

excess over P500 Million More than P750 Million but not

more than P1 Billion:

P687,500 plus 0.05% of the

excess over P750 Million More than P1 Billion:

P812,500 plus 0.025% of the

excess over P1 Billion

(In case of options or warrants

which have no issue value:

Minimum of P50,000 in addition to

the diminishing fee due on the

underlying shares.)

1) SEC Form 12-1

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 An-

nex “C”)

20-23 days Ground Floor — North Wing

Markets and Securities

Regulation Department (MSRD)

Petition for Voluntary

Revocation of Permit to

offer Securities for Sale and

Order of Registration for

Equities, Debt

Securities, REIT

P10,000 1) Petition for Revocation

2) Board Resolution

3) List of Stockholders

4) Proposed Notice of Filing of

Petition

5) Copy of Official Receipt

6) All relevant books and papers

7) Notice of Publication

18-20 days Ground Floor — North Wing —

MSRD

Application for

Confirmation of Exempt

Transaction

1/10% of 1% of the aggregate

value of securities to be sold or

issued but in no case less than

P1,000

SEC Form 10.1 6-7 days Ground Floor — North Wing —

MSRD

http://www.sec.gov.ph/wp-content/uploads/2015/08/SEC_Form_10_12.zip

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OFFICE/DEPARTMENT

Application for Exemption

from Registration of Stock

Option Plan

1/10 of 1% of the maximum

aggregate price or issued value of

the securities plus 1% Legal

Research Fee

1) Application Letter with support-

ing documents

2) Please see the checklist of re-

quirements here or secure

checklist from the department

1-2 month/s Ground Floor — North Wing —

MSRD

Application for Exemption

from Registration of

Limited Public Offering and

Other Exempt

Transaction

1/10 of 1% of the maximum

aggregate price or issued value of

the securities plus 1% Legal

Research Fee

1) Application Letter with

supporting documents

2) Please see the checklist of re-

quirements here or secure


1-2 month/s Ground Floor — North Wing —

MSRD

Review of Information

Statement prior to its

Distribution in Stockholders’

Meeting

Issuer — P7,575

Other than Issuer — P5,050

(inclusive of 1% Legal Research

Fee)

1) SEC Form 20-IS

2) Management Report

4-5 hours Ground Floor — North Wing —

MSRD

Request for Exemptive

Relief/ Confidential

Treatment of Information

Filed

Exemptive Relief — P50,000 per

issue/per company

Confidential Treatment—None

Request letter with supporting docu-

ments


MSRD

Accreditation of Surety

Companies

P5,050


Fee)

All documents enumerated in Form

SCA-0001

3.5-4 hours Ground Floor — North Wing —

MSRD

Request for SEC

Clearance

None SEC MSRD Request Form Pre-processing: 40 minutes

Processing: 3 hours

Ground Floor — North Wing —

MSRD

Request for Comment/

Recommendation on the

Application for Articles of

Incorporation/ Partnership/

By-Laws and Amendments

relative thereto

None 1) SEC MSRD Request Form

2) Articles of Incorporation/

Partnership/By-Laws and

Amendments thereto

3 days Ground Floor — North Wing —

MSRD

http://www.sec.gov.ph/wp-content/uploads/2015/08/SEC-Form-20-IS.doc

http://www.sec.gov.ph/wp-content/uploads/2015/08/SEC_Form-SCA-0001.doc

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OFFICE/DEPARTMENT

Application of Registration

as an Exchange/Exchange

-SRO/Clearing Agency/

Clearing Agency SRO and

Depository

P50,500


Fee)

1) Cover Sheet

2) SEC Form-33 and SEC Form-33-

SRO

3) Statements and Exhibits

required by SEC Form-33 and

SEC Form-33-SRO

4) Copy of the latest GIS

5) Copy of the license of the CPA

6) Manual on Corporate

Governance

3 months Ground Floor — North Wing —

MSRD

Application of Registration

as Registrar of Qualified

Buyer

None 1) Cover Sheet

2) Application for Registration (SEC

Form 39-Registrar/AMD)

3) Copy of Internal Procedures

1 month Ground Floor — North Wing —

MSRD

Application of Alternative

Trading System and Central

Trade Reporting System

P50,500


Fee)


department


MSRD

Application for Over-the-

Counter Market/

Association of Securities

Brokers and Dealers

P50,500


Fee)

1) Cover Sheet

2) SEC Form 39-BD

3) Statements and Exhibits

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


MSRD

Application for License as

a Mutual Fund Company

(MFC)

P10,100


Fee)

SEC Form ICA 7-1 22 days

(Processed together with the

Registration Statement)


Corporate Governance and

Finance Department (CGFD)

http://www.sec.gov.ph/wp-content/uploads/2015/11/SEC-Form-33-SRO.pdf



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OFFICE/DEPARTMENT

Application for

Certificate of Permit to Sell

Securities and Order of

Registration for

Mutual Fund Companies

(MFC), Exchange

Traded Funds (ETC) and

Proprietary/Non-Proprietary

Shares, Membership

Certificates, and

Timeshares

Please see SEC Memorandum

Circular No. 03, series of 2017

1) Accomplished SEC Form 12-1,

as amended (Registration

Statement)

2) Exhibits to be submitted

together with Registration

Statement

3) The checklist of requirements is

downloadable at the SEC

website.

22 days from the date of

submission of complete

requirements and payment of fees


CGFD

Application for

Accreditation as


Institutional Training

Provider

P5,050


Fee)

Please secure checklist of

requirements from the Department

22 days upon receipt of

complete documentary

requirements


CGFD

Request for Approval of

In-House Corporate

Governance Trainings/

Seminars

P2,020


Fee)



15 days upon receipt of complete

documentary requirement


CGFD

Request for Exemptive

Relief/Confidential Treat-

ment

P50,000

per issue per company

Request for Exemption/Confidential

Treatment and required exhibits


CGFD

Petition for Voluntary

Revocation

P10,100


Fee)

Petition for Voluntary Revocation

and required exhibits under SRC

Rule 13

30 days* Ground Floor — North Wing —

CGFD

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

http://www.sec.gov.ph/wp-content/uploads/2017/03/2017MCno03-new2.pdf


http://www.sec.gov.ph/forms-and-fees/secondary-license/

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OFFICE/DEPARTMENT

Monitoring of Financing/

Lending Companies/

Foundations/Microfinance

NGOs

Assessed Fees/Penalties 1) Monitoring Slip (from the CGFD

or endorsed from other

departments);

2) Articles of Incorporation (AI) and

By-Laws (BL);

3) Latest Amended Articles of

Incorporation (AAI) and

Amended By-Laws (ABL);

4) Latest due General Information

Sheet;

5) Latest due Financial Statements;

6) Copy of the Stock and Transfer

Book/Membership Book

Registration; and

7) Other documents/reports (per

processor’s instruction).

30 minutes to 2 hours

(depends if compliant or not)


CGFD

Monitoring of MFCs, ETFs,

Public Companies (PC),

Issuers of Registered

Unlisted Securities, and Issu-

ers of Proprietary and Non-

Proprietary Shares, Mem-

bership Certificates and

Timeshares

Amount imposed Information Statement (SEC Form

20-IS)

30 minutes to 2 hours

(depends if compliant or not)


CGFD

Monitoring Application for

Amendment of Articles of

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

Amount imposed Request Slip 1.5 to 2 hours Ground Floor — North Wing —

CGFD



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OFFICE/DEPARTMENT

Request for Comment on

AI and/or BL

None Request Slip 2.5 hours Ground Floor — North Wing —

CGFD

Monitoring of Compliance

with Corporate

Governance Regulations

of PLCs, MFCs, ETFs, PCs,

and Issuers of Membership

Certificates and Timeshares

Amount Imposed Please secure checklist of


1-1.5 hours Ground Floor — North Wing —

CGFD

Handling of Complaints

Filed Against Covered

Institutions



Complaint Letter/Form and

Supporting documents and any

additional documents that the

Commission may require.


CGFD

Registration of Stock and

Non-Stock, Non-Profit

Corporations and

Partnerships

Stock Corp.: I/5 of 1% of the

authorized capital stock but not

less than P2,000 or the subscription

price of the subscribed capital

stock, whichever is higher

Non-stock corp.:

P1,050


Fee)

Partnership:

1/5 of 1% of the partnership’s

capital but not less than P2,000



Within 8 working hours Ground Floor — East Wing — Com-

pany Registration and Monitoring

Department (CRMD) - Greenlane

Unit



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OFFICE/DEPARTMENT

Application for

Amendment of Stock and

Non-Stock

Domestic Corporations



Please see the checklist of

requirements at www.sec.gov.ph or

secure checklist from the depart-

ment

Within 9 working days Ground Floor — East Wing — CRMD

— Corporate and

Partnership Registration Division

(CPRD)

Application for

Amendment of

Partnerships






ment


— CPRD

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






ment


— CPRD

Application of Foreign

Corporations






ment


— CPRD









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OFFICE/DEPARTMENT

Processing Services for

Voting Trust Agreements






ment


— CPRD

Actions (Two [2] Party

Complaints/Petitions)

Docket Fee of Three Thousand

Thirty (Php3,030) Pesos inclusive

of Legal Research Fee (SEC Rules

of Procedure, Rule 3-15 in

accordance with the Schedule

of Fees forming part of the SEC

Rules)

Verified Complaint/Petition (SEC

Rules of Procedure, Rule 3-4 and 3-

9), Certificate of Non-Forum

Shopping (SEC Rules of Procedure,

Rule 3-5), Affidavits, Documents,

and Other Supporting Documents

(SEC Rules of Procedure, Rule 3-14),

and Monitoring Clearance.

Within 30 days Ground Floor — East

Wing — CRMD —

CPRD

Petition for Correction Docket Fee of Three

Thousand Thirty (Php3,030) Pesos

inclusive of Legal Research Fee

(SEC Rules of

Procedure, Rule 3-15 in

accordance with the

Schedule of Fees forming part of

the SEC Rules)

Verified Petition (SEC Rules of Proce-

dure, Rule 3-4 and 3-9), Certificate

of Non-Forum Shopping (SEC Rules

of Procedure, Rule 3-5), Affidavits,

Documents, and Other Supporting

Documents (SEC Rules of Proce-

dure, Rule 3-14),

Corrected Articles of

Incorporation, and Monitoring

Clearance.

Within 30 days Ground Floor — East Wing —

CRMD — CPRD

Application for Licensing of

Financing Companies






ment


CRMD — Licensing Unit (LU)

Application for

Registration of Capital

Market Institutions






ment


CRMD — LU







Table of Contents







OFFICE/DEPARTMENT

Application for

Registration of Capital

Market Professionals






ment

Within 2 hours Ground Floor — East Wing —

CRMD — LU

Request for Regular

Monitoring of Domestic

Corporations (Ordinary

Stock and Non-Stock) and

Foreign Corporations

(Branch Offices,

Representative Offices,

Regional Area

Headquarters and

Regional Operating

Headquarters)

Please see Guidelines on the

Imposition of fines or penalties for

non-compliance with reportorial

requirements; Memorandum


(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




ment

Varies Ground Floor — East Wing —

CRMD — Compliance Monitoring

Division (CMD)

Process Compliance with

Securities Deposit






ment

1-1.5 hours Ground Floor — East Wing —

CRMD — Compliance Monitoring

Division (CMD)

Petition to Lift Order of Rev-

ocation/Suspension


Imposition of fines or penalties

for non-compliance with

reportorial requirements;


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




ment

Processing = 1-2 hours

Approval = varies

Ground Floor — East Wing —

CRMD — CMD



Table of Contents





FORMS/REQUIREMENT PROCESSING TIME (under normal circumstances)

OFFICE/DEPARTMENT

Application for Licensing of

Lending Companies

Please see SEC Memorandum Circular

No. 03, series of 2017



secure checklist from the department

Within 2 hours Ground Floor — East Wing —

CRMD — LU

Request for Payment in

Installment or Reduction of

Fines


Imposition of fines or penalties for

non-compliance with reportorial

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




Processing = 1-2 hours

Approval = varies

Ground Floor — East Wing —

CRMD — CMD

Monitoring of

Corporations where there is

more than one set of

General Information Sheet

(GIS) filed with the

Commission

None Request for Monitoring Varies Ground Floor — East Wing —

CRMD — CMD

Compliance with SEC

Memorandum Circular No.

14, Series of 2013

(Guidelines Covering the

Use of Properties that

Require Ownership

Registration as Paid-Up

Capital)

Please see SEC Memorandum Circular






CRMD — CMD



http://www.sec.gov.ph/sec-memorandum-circular-no-14-2/







Table of Contents






OFFICE/DEPARTMENT

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)






ment


CRMD — CMD

Name Verification Services P100 per allowed name for 30

days

Name Verification Form, Name

Verification Slip

Within 20 minutes Ground Floor — East Wing —

CRMD — Corporate Filing and

Records Division (CFRD)

Issuance of Certificates of No

Derogatory Records/Affirmative/

Negative

P300 for Affirmative/Negative

Certification, P500.00 for Cer-

tificate of No Derogatory

Information, plus penalty im-

posed, if any




ment


CRMD — CFRD

Registration of Stock and

Transfer/Membership Book



Registration Form 8-10 minutes Ground Floor — East Wing —

CRMD — CFRD

Receiving of Applications for

New Registration (Domestic/

Foreign)/Articles of

Partnership

None Please see the checklist of



ment

40-45 minutes Ground Floor — East Wing —

CRMD — CFRD

Receiving of Applications for

Amendment of Articles of

Incorporation/By-Laws/Articles of

Partnership/Articles of Merger

and Consolidation




ment


CRMD — CFRD





Table of Contents






OFFICE/DEPARTMENT

Releasing of Approved Primary

Registration/Amendments/

Articles of Merger and

Consolidation





CRMD — CFRD

Data Entry of Applications for

Amendment/Articles of Merger

and Consolidation and Retrieval

of Records

None None 10-15 minutes Ground Floor — East Wing —

CRMD — CFRD

Issuance of Authenticated

Copies for Government

Agencies

None Request letter from government

agencies

45 minutes - 1 hour Ground Floor — East Wing —

CRMD — CFRD

Amendment of Article VII of

Articles of Incorporation and

Other Applications (Confirmation

of Valuation or Exempt Transac-

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)






Within 9 working days Ground Floor — East Wing —

CRMD — Financial

Analysis and Audit Division

(FAAD)

Merger/

Consolidation







CRMD — FAAD

Cash or Stock Dividend

Declaration







CRMD — FAAD







Table of Contents






OFFICE/DEPARTMENT

Certification of Capital

Structure/Percentage of

Ownership






ment


CRMD — FAAD

Request for Copy of the SEC

Publication of the Philippines’

Top Corporation

a) Main report

a.1) Narrative (in PDF format)

- P3,000

a.2) 13 schedules (in MS

Excel format) - P5,000

b) Directory

a.1) In PDF format - P5,000

a.2) In MS Excel format - P10,000

File a request:

a) In person

b) Phone call at telephone num-

ber 818-6117 or thru facsimile

number 818-5526.

c) Via email to

[email protected]

30-40 minutes Ground Floor — West Wing —

Economic Research and

Training Department (ERTD) —

Economic Research and

Statistics Division (ERSD)

Request for Certification of Rank-

ing in the Philippines’ Top Corpo-

rations

P300 — certification fee File a request:

a) In person

b) Phone call at telephone num-

ber 818-6117 or thru facsimile

number 818-5526.

c) Via email to

[email protected]

1-1.5 hours Ground Floor — West Wing — ERTD

— ERSD

Registration for

Certification Seminars:

Associated Persons (AP) and

Certified Securities

Representatives (CSR)

P7,500 (AP)

P5,500 (CSR)

*the fees include

P500 examination fee.

1) Download the appropriate form

and accomplish the same.

2) Submit the accomplished form

together with your registration

fee personally to the Training

Division.

30 minutes Ground Floor — West Wing — ERTD

— Training Division (TD)

Registration for Regular and

Special Examination: Associated

Person (AP), Certified Securities

Representatives (CSR), Mutual

Funds (MF) and Fixed Income (FI)

Salesman

P2,500 (FI first time takers)

P500 (CSR and MF first time

takers)

P500 (per AP module)

P500 (retake)

1) Download the appropriate form

and accomplish the same.

2) Submit the accomplished form

together with your registration

fee personally to the Training

Division.


— TD



mailto:[email protected]


Table of Contents







OFFICE/DEPARTMENT

Releasing of

Congratulatory Letter

None Proceed to the ERTD Office for

personal appearance. An

authorized representative shall sub-

mit authorization letter addressed to

ERTD Director.

6-8 minutes Ground Floor — West Wing — ERTD

— TD

Reprinting of

Congratulatory Letter

None for data correction

P300 for reprinting in case of loss

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


— TD

Student Orientation/

Educational Visit

None Send a request letter addressed to

the Chair signed by an authority of

the university/college, and wait for

confirmation/approval of

request.

Processing of request = 30 minutes

Approval of request = 1-2 days

Ground Floor — West Wing — ERTD

— TD

Library Services —

reference Queries

None 1) Call telephone numbers 818-

5994

2) Send e-mail queries at

[email protected]

3) Walk-in and ask library person-

nel for queries

5 minutes Ground Floor — West Wing — Hu-

man Resource and Administrative

Department (HRAD) -

Library

Access to Library

Resources

(Room-Use Reading)

None 1) Proceed to the catalog or the

computer database for access

to library collection.

2) Ask assistance from the library

personnel for material/s needed

or other reference inquiries

6 minutes Ground Floor — West Wing — HRAD

— Library


Table of Contents







OFFICE/DEPARTMENT

Photocopy/Printing

Services

P5 per page (plain copy)

P10 per page (authenticated)

1) Locate material for printing/

photocopying

2) Ask assistance from the library

personnel for material/s

needed.

10-30 minutes (includes payment

at cashier and printing)

Ground Floor — West Wing — HRAD

— Library

Issuance of Bid

Documents

P500.00-P10,000.00 1) Payment for the Bidding

Documents

2) Letter of Intent (for Consultancy

projects)

3) Proof of Invitation/Letter of

Intent (for projects to be

undertaken thru Negotiated

Procurement/Consultancy)

18-20 minutes 3rd floor — HRAD — Procurement

Division (PD)

Issuance of Notice of

Award / Notice to

Proceed

None Proceed to HRAD-Procurement Divi-

sion, 3rd Floor, Secretariat Building,

PICC Complex, Pasay City, and

present ID/any proof of

authorization to receive the

document

4-5 minutes 3rd floor — HRAD — PD

Posting of Performance

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

2 minutes 3rd floor — HRAD — PD

Posting of Performance

Security (For Manager’s

Check/Cash)

Depends on the project’s Ap-

proved Budget for the Contract

(ABC)

Proceed to HRAD-Procurement Divi-


PICC Complex, Pasay City, for

Payment Assessment Form (PAF),

then pay the bond or deposit the

check in the Cashier Office


Table of Contents







OFFICE/DEPARTMENT

Release of Perfected Con-

tracts/Purchase

Orders/Work Orders



PICC Complex, Pasay City, then

present ID/any proof of

authorization to receive the

Documents


Purchase of PIN Mailer P100 Proceed to the Cashier, fill up

Purchase Order Slip (POS), then pay

the corresponding fee

8 minutes (queuing/waiting time

not included)

Ground Floor — West Wing — Finan-

cial Management

Department (FMD) - Cashier

Purchase of Service Stamp

P40 Proceed to the cashier then pay the

corresponding fee

2 seconds Ground Floor — West Wing — FMD

— Cashier

Payment of Fees for

Registration Transaction

Depends on type of transaction/s Proceed to the cashier, present PAF,

then pay the corresponding fee


not included)

Ground Floor — West Wing — FMD

— Cashier

Payment of Fees for Non-

Registration Transaction

Depends on type of transaction/s Proceed to the cashier, present PAF,

then pay the corresponding fee


not included)

Ground Floor — West Wing — FMD

— Cashier

Table of Contents

Frontline Services — Ortigas Office P a g e 28






OFFICE/DEPARTMENT

Request for Listings Please see SEC Memorandum


1)

2)

3) Official Receipt (OR) to be is-

sued by cashier upon payment

Filing of request = 1 hour

Processing of Request = 15 days

Releasing of Request = 20-30

minutes

7th floor — Information and Com-

munications Technology Depart-

ment (ICTD)

Request for Copy/Copies

of Document/s

Please see the schedule of fees

and charges here; or see SEC


series of 2017

Option 1— For pick-up

Call SEC Express Hotline no.

737-8888 OR go online at

www.secexpress.ph

to schedule an appointment and

print the Appointment Form re-

ceived through e-mail

30-45 minutes Basement — ICTD — Public Refer-

ence Unit (PRU)

Request for Copy/Copies

of Document/s

Please see the schedule of fees

and charges here and add

courier fee for delivery; or see SEC


series of 2017

Option 2— For delivery

Call SEC Express Hotline no.

737-8888 OR go online at

www.secexpress.ph

to order for delivery

Processing of request = 1-1.5 hours

Mailing Period = 3-4 days

Basement — ICTD — PRU

Receiving of Documents:

Reports/Reportorial

Requirements (i.e. GIS and

AFS)

None Option 1— Walk-in submission of

reports/reportorial requirements:

Proceed to the Central

Receiving and Releasing Unit,

Ground Floor, SEC Bldg. or at any

Satellite Office and present 4 sets/copies of reports/reportorial

requirements

3-5 minutes Ground Floor — ICTD — Central Re-

ceiving and Releasing Unit






http://www.secexpress.ph





Table of Contents

Frontline Services — Ortigas Office P a g e 29






OFFICE/DEPARTMENT

Receiving of Documents:

Reports/Reportorial

Requirements (i.e. GIS and

AFS)

Courier fee Option 2 — Online submission of

reports/reportorial requirements:

(submission only or with return

copy): Go online at

www.sens.secexpress.ph and ac-

complish SEC Express Nationwide

Submission (SENS) Form then pro-

ceed to a SENS Air21 Partner Courier

and present 4 sets/copies of the documents for

submission

Submission only = 8-10 minutes

With Return Copy = 8-10 minutes

plus 3-4 days

Ground Floor — ICTD — Central Re-


Receiving of correspond-

ences and

documents other than re-

ports

None Option 3 — Walk-in delivery of cor-

respondences and documents other

than reports: Present letters/

correspondence/documents other

than reportorial requirements



Releasing of

Documents/

Correspondences from

Operating Departments

None Documents from operating depart-

ments transmitted through mail and

courier



http://www.sens.secexpress.ph

Table of Contents

Frontline Services — Satellite Office P a g e 30






OFFICE/DEPARTMENT

SATELLITE OFFICE

Name Verification Service P40.00- reservation for 30 days;

P80.00 – reservation for 60

days;


days

Name Verification Form Confirmation Reservation Notice

10-15 minutes / company

name

CRMD — Satellite

Office

Processing of Applications

for Primary Registration of

Stock and Non-Stock Cor-

porations


Circular No. 03, series of 2017 Confirmation Reservation Notice 1 day and 1 hour CRMD — Satellite

Office

Processing of Applications for

Partnerships Filing fee: 1/5 of 1% of the Part-

nership’s capital but not less

than P2,000.00 plus 1% Legal

Research Fee (LRF)

Confirmation Reservation Notice 1 day and 1 hour CRMD — Satellite

Office



Table of Contents

Frontline Services — Satellite Office P a g e 31





(under normal cir-

cumstances)

OFFICE/DEPARTMENT

SATELLITE OFFICE

Processing of Applications for

Amendment of Stock and

Non-Stock Domestic Corpo-

rations



Please see the checklist of require-

ments at www.sec.gov.ph or secure




Table of Contents


Frontline Service Procedures

OFFICE OF THE COMMISSION SECRETARY

1) Maintains the official records of the en banc;

2) Prepares the agenda and notices for en banc meetings;

3) Maintains custody over documents it has acted on, or are directly filed with it, unless otherwise directed by the en banc, including

certificates of titles of real estate properties of the Commission, and other confidential documents as may be determined by the

en banc;

4) Prepares minutes of Commission meetings and Executive Sessions, decisions and resolutions for the approval of the en banc;

5) Handles media relations for the Commission;

6) Develops Rules of Practice that guide the Commission, Departments, Offices, staff and the public in the Commission’s processes

and procedures;

7) Reviews official documents for dissemination based on established methodology;

8) Handles appeals from Petitions for Calling of Meeting;

9) Performs such other functions as may be directed by the Chair and Commissioners

LIST OF FRONTLINE SERVICES:

1) Issuance of Commission en banc Resolutions

2) Issuance of Certified True Copies (CTC) of Memorandum Circulars, Minutes of the Meeting, and Resolutions

3) Issuance of certification on certain acts of the Commission

4) Media Request for interview, information, and updates

Table of Contents

Office of the Commission Secretary P a g e 33

Issuance of Commission en banc Resolutions

Schedule of availability of service : Monday to Friday, 8:00 AM to 5:00 PM (no noon break)

Who may avail of the service : Any concerned individual

What are the requirements : Request letter (with complete name, address and contact number of the client)

addressed to the Commission Secretary How to avail of the service :

Total Duration : 27 minutes

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY


PERSON IN CHARGE FEES FORM

1 Presents request letter for

issuance of resolution

Receives request letter 1 minute Assigned personnel None None

2 Fills up/accomplishes Client

Satisfaction Survey

Prepares Resolution 15 minutes (subject to the avail-

ability of documents)

Assigned personnel

3 Submits for review/signature 10 minutes (subject to the avail-

ability of the reviewer/

signatory)

Asst. Commission

Secretary / Commis-

sion Secretary

4 Receives copy of resolution

after submitting accom-

plished Client Satisfaction

Survey

Releases copy of Resolution 1 minute Assigned personnel

END OF TRANSACTION

Table of Contents


Issuance of Certified True Copies (CTC) of Memorandum Circulars, Minutes of the Meeting and

Resolutions










certified true copies of the

document

Receives request letter 1 minute Assigned personnel Miscellaneous

fees : P50.00

per document

plus P10.00 per

page

None

2 Prepares Payment Assess-

ment Form (PAF)

10 minutes Assigned personnel

3 Presents the PAF to the

Cashier and settles the re-

quired fee

Processes payment and is-

sues O.R. 10 minutes Cashier

4 Returns the machine-

validated PAF with the O.R.

to the OCS

Prepares requested docu-

ments to certify as true copy 15 minutes (subject to the avail-

ability and volume of the re-

quested documents to be certi-

fied as true copy/ies)

Assigned personnel


Satisfaction Survey

Submits for review/signature 10 minutes (subject to the avail-


signatory)

Asst. Commission

Secretary / Commis-

sion Secretary

6 Receives CTC of docu-

ment requested after sub-

mitting accomplished Cli-

ent Satisfaction Survey

Releases certified true copy

of documents 1 minute Assigned personnel

END OF TRANSACTION

Table of Contents


Issuance of certification on Certain Acts of the Commission










issuance of Certification



Satisfaction Survey

Prepares Certification 15 minutes (subject to the avail-

ability of documents)

Assigned personnel

3 Submits for review/signature 10 minutes (subject to the avail-


signatory)

Asst. Commission

Secretary / Commis-

sion Secretary

4 Receives copy of Certifica-

tion after submitting ac-

complished Client Satisfac-

tion Survey

Releases copy of Certifica-

tion

1 minute Assigned personnel

END OF TRANSACTION

Table of Contents


Media Request for Interview, Information, and Updates


Who may avail of the service : Members of Media Organizations








interview, information, and

update indicating the top-

ics/issues to be discussed


2 Schedules the interview, pre-

pares the information, and/

or updates (schedule will

depend on the availability

of the Commission Secretary

or Subject Matter Expert)

1 hour -do-

3 Follows up the schedule

(date and time) of the in-

terview, availability of infor-

mation, and/or updates

Confirms the schedule with

the client

30 minutes -do-

4 Proceeds to conduct inter-

view, receives information,

and/or updates

Answers queries, provides

information, and/or updates

30 minutes or more (depending

on the topic)

Commission Secre-

tary or Subject Mat-

ter Expert

END OF TRANSACTION

Table of Contents


OFFICE OF THE GENERAL COUNSEL

1) Hears Petitions for Calling of Meeting;

2) Acts on the following for the Commission en banc

a. Appeals to the en banc from decisions of the operating departments, SRO, etc.;

b. Petition for Voluntary Dissolution with Creditors Affected under Section 119 of the Corporation Code;

c. Petitions for issuance of Cease and Desist Orders (CDOs);

d. Contracts of the Commission for review;

e. Requests for opinions and special studies from the Chair, the Commissioners, other operating departments, and the public.

3) Acts on formal request for opinions from the public involving the interpretation of the laws which the Commission implements;

4) Liaises with the House of Representatives and the Senate, assists in the preparation of the Commission’s legislative agenda, and prepares

comments and position papers on proposed legislation;

5) Liaises on legal matters with self-regulatory organizations, international organizations and foreign government regulators and agencies;

6) Represents the Commission before the COA, DBM, and other administrative agencies;

7) Oversees non-enforcement litigation, and appellate litigation in coordination with the Office of the Solicitor General;

8) Represents the Commission before the Office for Competition (DOJ) in conferences, technical working groups, and other joint activities to

study existing laws, rules and regulations on trade and competition, and develop and propose appropriate legislative or executive action

in coordination with the other departments;

9) Entertains walk-in/phone legal queries involving complex issues from the public; and

10) Performs such other functions as may be directed by the Chair and Commissioners.


1) Filing of Petition or Appeal

2) Filing of Request for Legal Opinion

3) Request for Certified True Copies or Plain Copies of Documents relating to Cases

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

Table of Contents

Office of the General Counsel P a g e 38

Filing of Petition or Appeal


Who may avail of the service : Public (Individuals/Corporations) What are the requirements :

1) Petition or Memorandum on Appeal

2) Supporting Documents (Please see 2006 SEC Rules of Procedure) How to avail of the service :




1 Presents petition or memo-

randum on appeal, and

supporting documents.

Assesses the completeness

of the petition or memoran-

dum on appeal, and sup-

porting documents.

10 minutes Officer for the Day Please see 2006

SEC Rules of Proce-

dure

2 If complete, receives peti-

tion or memorandum on ap-

peal, and supporting docu-

ments.

3 minutes Support Clerk

3 Prepares the Payment As-

sessment Form (PAF) and

instructs the applicant to

proceed to the SEC Cashier

or nearest Land Bank of the

Philippines (LBP) Branch.

10 minutes Records Specialist

4 Presents the PAF at the SEC

Cashier or nearest LBP

Branch


sues Official Receipt or vali-

dated deposit slip, and vali-

dated PAF

10 to 20 minutes SEC Cashier or LBP

Branch Filing Fee:

P2,020.00

5 Presents the validated PAF

or validated deposit slip. Photocopies the validated

PAF or validated deposit slip

for incorporation to the case

file


6 Records in the Database/

Raffling


https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwif2p7gitTOAhWHjpQKHb3DDS4QFggeMAA&url=http%3A%2F%2Fwww.sec.gov.ph%2Fwp-content%2Fuploads%2F2015%2F08%2F2006_Rules_of_Procedure.pdf&usg=AFQjCNF2-iW35PGuANVCfiuLZvd_EMq




Table of Contents


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




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

Table of Contents


Filing of Request for Legal Opinion



1) Request letter for Opinion

2) Supporting Documents (Please see Memorandum Circular No. 15, series of 2003) How to avail of the service :





opinion and supporting

documents.

Receives the request letter,

and supporting documents.

3 minutes Support Clerk Please see Memo-

randum Circular

No. 15, series of

2003

2 Records in the Database/

Raffling


3 Records in GC’s files/records 3 minutes Executive Assistant

4 For notation 3 minutes General Counsel

5 Drafts reply letter advising

payment of opinion fee, af-

ter determination of whether

the request letter pertains to

specific questions of law

1 hour Handling Lawyer










Branch




dated PAF


Branch Filing Fee:

P10,000

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjNpqjgsNTOAhVNxGMKHTDwCo0QFggkMAE&url=http%3A%2F%2Fwww.sec.gov.ph%2Fwp-content%2Fuploads%2F2016%2F06%2Fsec-memo-15s2003.pdf&usg=AFQjCNEKCcM2fZbtucmFsbRk7Y8fjIW6LQ&sig





Table of Contents


*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.





or validated deposit slip. Photocopies the validated

PAF or validated deposit slip

for incorporation to the file


9 Takes action upon the re-

quest.*

END OF TRANSACTION

Table of Contents


Request for Certified True Copy or Plain Copy of Documents Related to a Case



1) Proper identification

2) Letter of Authority, if necessary How to avail of the service :




1 Presents request for partic-

ular documents

Furnishes request form to the

client











Branch




dated PAF


Branch Fees:

For Certified

true Copy -

P50.00 per

document plus

P10.00 per

page;

For Plain Copy

– P10.00 per

page


or validated deposit slip. Prepares the document re-

quested 10 to 20 minutes Records Specialist

END OF TRANSACTION

Table of Contents


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



1) Proper identification

2) Documents pertinent to the legal query, if any How to avail of the service :




1 Presents legal query Refers to the Officer of the

Day

3 minutes Support Clerk Not applicable No form required

2 Entertains the legal query 10 to 20 minutes Officer of the Day

END OF TRANSACTION

Table of Contents


OFFICE OF THE GENERAL ACCOUNTANT

1) Acts as lead office in the adoption and implementation of financial reporting and auditing standards and practices based on global

framework;

2) Prepares opinions, clarifications and replies to public queries with respect to financial reporting and audit issues;

3) Accredits external auditors or auditing firm, appraisal companies, credit rating agencies and other professionals or

engaged by by the

4) with rules by external auditors and appraisal companies, credit rating agencies and oth-

er accredited by the

5) Evaluates financial statements of that may be referred by the

6) Renders advice to the Departments upon request on financial and

7) Formulates rules and guidelines on quality assurance review of work of accredited experts or professionals, and the

same

8) Evaluates applications for, and issues, of under the Special Purpose Vehicle

9) custody over has acted on, or are filed unless by the Commission En Banc

or the Chairperson;

Performs such other functions as may be assigned by the Commission En Banc or the

the quality assurance review

12) All previous functions as may be retained by the Office, except the of applications and issuance of of

the Specia Purpose Vehicle Law.

a. Item 7 above has been added for the planned implementation of quality assurance review system.

b. All previous functions will be retained by the Office except the evaluation of applications for, and issues certificates of eligibility un-

der the Special Purpose Vehicle Law.


1) Accreditation of Appraisal Companies and Professional Services Organization

2) Accreditation of Credit Rating Agencies

3) Request for Exemptive Relief

4) Request for Opinion on Accounting Matters

5) Accreditation of External Auditor/Auditing Firms

Table of Contents

Office of the General Accountant P a g e 45

Accreditation of Appraisal Companies and Professional Services Organization


Who may avail of the service : Appraisal companies and Professional Services Organization (PSO) What are the requirements :

for

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

Certificate of good standing issued by Professional Regulation Commission recognized to Accredited Professional Organization

List of existing and past

from at least two (2) banks or two (2) public companies or secondary licensees or two (2) large corpora-

tions that they have engaged services of the appraisal

Notarized of the appraisal signed by its or Managing Partner that it meets all the

under of the Guidelines on Property Valuations; that it has not been declared liable by the Commission or by any

court for of the Code or the Securities Regulation Code or any relevant laws and regulation, and that the

applicant or any of / officers or partners or property appraisers or valuers have no adverse

on any civil or case its appraisal

9) List of any pending administrative, civil or criminal case filed against the company or any of its officers and employees;

10) Latest audited financial statements for the recent three years including the period due for the filing;

11) Copy of professional liability insurance policy and sworn undertaking to provide professional liability insurance as required by its clients;

12) Copy of two (2) Appraisal or Valuation Report issued; and

13) Copy of the company’s framework of internal control procedures.

Table of Contents


How to avail of the service :




PRE-EVALUATION PROCEDURES

1 Secures checklist of re-

quirement from the OGA

Provides client a checklist of

requirements with instruc-

tions.

5 minutes Officer of the day None Notarized applica-

tion letter duly

signed by author-

ized officer

2 Presents application and


1) Pre-evaluates application

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-


complete, the “Officer

of the Day” clears appli-

cation for payment of

the prescribed fees

(proceeds to No. 2)

2) Prepares Payment Assess-

ment Form (PAF) and in-

structs applicant to process

payment and issue O.R

30 minutes

10 minutes

Officer of the day

Executive Assistant

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3 Presents the PAF at the


quired fee


sues O.R.

10 minutes Cashier Filing Fee:

P10,000

UPLRF:

P100

TOTAL:

P10,100

Annual Fee:

P2,000

4 Submits the machine-

validated PAF to the OGA

with the application and its


1) Checks contents and

stamps “Received” the

three (3) sets of applica-

tion documents.

2) Returns one (1) copy of

the application document

to the client.

5 minutes Executive Assistant

PROCESSING PROCEDURES

1 Inputs application to Index

Tracking System and for-

wards the same to the Su-

pervising Accountant for

assignment

5 minutes -do-

2 Forwards documents to as-

signed personnel

5 minutes Supervising Account-

ant

3 Reviews application and

supporting documents using

the OGA’s Evaluation Sheet.

If complete and qualified,

GO TO STEP 9


4 If not compliant, prepares

comment letter to the appli-

cant

-do-

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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

to comply with the re-

quirements.

2) Reviews letter

3) Signs letter

10 minutes

5 minutes

5 minutes

-do-

Supervising Account-

ant

General Accountant

8 If there is a submission but

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

2 hours Assigned personnel

9 If applicant fully complies

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)

2 hours -do-

10 Reviews Memorandum 10 minutes Supervising Account-

ant

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11 Signs and presents Memo-

randum to the Commission

En Banc for consideration

(after clearance from Super-

vising Commissioner)

50 minutes General Accountant

12 Receives advice of the reso-

lution of the Commission on

the application

If approved, GO TO STEP 13.

a) If denied/deferred:

· Denial: Notifies the appli-

cant of the denial and

reasons thereof

· Deferment: Notifies the

applicant of the defer-

ment and requirement

to be complied with or

necessary action to cor-

rect the deficiency: GO

TO STEP 4 and onwards.


13 Presents authority to re-

ceive the certificate

Prepares Certificates of Ac-

creditation

a) Prints two (2) copies

b) Initials on copies

c) Initials on copies

d) Signs certificates

e) Notifies applicant that the

Certificate may be

picked up (in case of rep-

resentative, subject to

presentation of authoriza-

tion letter)

10 minutes

3 minutes

2 minutes

5minutes

5minutes

Executive Assistant

Assigned Personnel


ant

General Accountant

Executive Assistant

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Duration:

*under normal circumstances

Pre-evaluation of application 1 hour

Processing of application 1 day

Mailing period (estimate) 30 days

Total duration: 31 days and 1 hour




f) Releases Certificate of ac-

creditation and forwards

duplicate file to clerk

g) Logs in registry of Accred-

ited Appraisal Compa-

nies; informs Index Track-

ing Personnel of the issu-

ance of the certificate.

h) Provides MIS with updat-

ed list

i) Updates tracking system

10 minutes

5 minutes

30 minutes

30 minutes

-do-

-do-

-do-

Index Tracking Per-

sonnel

END OF TRANSACTION

Table of Contents


Accreditation of Credit Rating Agencies


Who may avail of the service : Credit Rating Agencies What are the requirements :

for

Applicant should be a stock and have a minimum paid-up capital of at least Ten Pesos (P10,000,000.00); List of shareholders and their corporate

List of other business activities,

Copies of its Articles of and Sworn on the a. Ownership structure and possible conflicts of b. Names, professional and of the staff in the rating decision

Disclosure of training, assistance or support receives from

code of conduct that can ensure the of the rating specialists and the rating agency from the Issuers it is

Rating scales symbols and related assessment devices 9) procedures, rating policies, and other used in arriving at a 10) Copy of model agreement with 11) Manual on Corporate






1 Secures checklist of re-

quirement from the OGA Provides client a checklist of

requirements with instruc-

tions

5 minutes Officer of the day None Application letter

duly signed by au-

thorized officer

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supporting document 1) Pre-evaluates application


ments.



not complete, the

same are returned to

applicant with list of

requirements not com-

plied with




of the Day” clears ap-

plication for payment

of the prescribed fees

(applicant proceeds to

No.2)


ment Form (PAF) and instructs

applicant to proceed to the

Cashier

30 minutes

10 minutes

Officer of the day

Executive Assistant



quired fee


sues O.R. 10 minutes Cashier Filing Fee:

P50,000.

UPLRF:

P500.00

TOTAL:

P50,500

Annual Fee:

P15,000





1) Checks contents and stamps

“Received” the three (3) sets

of application documents

2) Returns one (1) copy of the

application document to the

client.


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wards the same to the Su-


assignment


2 Forwards documents to as-

signed personnel


ant



the OGA’s Evaluation Sheet.

If complete and qualified,

GO TO STEP 9


4 If not compliant, prepares

comment letter to the appli-

cant

Assigned personnel

5 Reviews comment letter 5 minutes Supervising Account-

ant

6 Signs comment letter 5 minutes General Accountant





letter):



to comply with the require-

ments.

2) Reviews letter

3) Signs letter

10 minutes

5 minutes

5 minutes

General Accountant


ant

General Accountant

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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

with the requirements and

presents all original docu-

ments for authentication

against submitted photo-

copies with application, pre-

pares Memorandum to

Commission En Banc


missioner).



ant





12 Receives advice of the resolution

of the Commission En Banc on

the application



· Denial: Notifies the applicant

of the denial and reasons

thereof

· Deferment: Notifies the appli-

cant of the deferment and

requirement to be complied

with or necessary action to

correct the deficiency: GO

TO STEP 4 and onwards.


Table of Contents


Duration:



Processing of application 1 day










creditation





e) Logs in registry of Accred-

ited Appraisal Compa-

nies; informs Index Track-

ing Personnel of the issu-

ance of the certificate.

f) Provides MIS with updated

list

g) Updates tracking system

10 minutes

3 minutes

3 minutes

2 minutes

5 minutes

30 minutes

30 minutes

Executive Assistant

Assigned Personnel


ant

General Accountant

Executive Assistant

Executive Assistant

Index Tracking

Personnel

END OF TRANSACTION

Table of Contents


Request for Exemptive Relief


Who may avail of the service : Corporations or other interested parties with request for Exemptive Relief What are the requirements :

Supporting documents, if any






1 Presents letter-request for

Exemptive Relief and sup-

porting document

Prepares Payment Assess-


structs applicant to pro-

ceed to the Cashier

10 minutes Executive Assistant Letter duly signed

by authorized of-

ficer/ person



quired fee



P50,000 (per

issue and per

company)





supporting documents, if

any

Inputs Letter-Request for Ex-

emptive Relief or Memoran-

dum referred by the Operat-

ing Department to Index

Tracking System and forwards

the same to the Supervising

Accountant for assignment.


2 Forwards document to as-

signed personnel


ant

Table of Contents





3 Evaluates the request.

In case of complete support-

ing documents and justifica-

tion, prepares a Memoran-

dum for presentation to the

Commission En Banc contain-

ing the results of evaluation

and recommendation

In case of incomplete justifi-

cation with supporting docu-

ments, prepares Advisement

Letter to the requesting party

that the subject matter is un-

der evaluation and may re-

quire additional submission of

documents.

4 hours

16 hours

Assigned personnel

4 Reviews Advisement Letter or

Memorandum for presenta-

tion to Commission En Banc


ant

5 Reviews and signs Advise-

ment Letter or Memorandum


6 If there is a submission of ad-

ditional documents, GO TO

STEP 3

1 hour Assigned personnel

7 Presents Memorandum to the

Commission En Banc for con-

sideration


Table of Contents


Duration:


Pre-evaluation of application 20 minutes

Processing of application 1-3 days


Total duration: 31-33 days and 20 minutes




8 Receives advice of the Reso-

lution from Commission En

Banc

Prepares Advisement Letter

containing the resolution of

the Commission En Banc, no-

tifying the party whether the

request has been approved

or denied


9 Reviews Advisement Letter 30 minutes Supervising Account-

ant


ment Letter


11 Logs/Updates Index Tracking

System


END OF TRANSACTION

Table of Contents


Request for Opinion on Accounting Matters


Who may avail of the service : Corporations or other interested parties with request for Opinion on Accounting Matters What are the requirements :

Supporting documents, if any






1 Presents letter-request for

opinion and supporting

document



structs applicant to pro-

ceed to the Cashier

10 minutes Executive Assistant Letter duly signed

by authorized of-

ficer/ person



quired fee



P25,000

(complex is-

sues)

P10,000 (non-

complex is-

sues)





supporting document, if

any

Inputs Letter-Request for

Opinion or Memorandum

referred by the Operating

Department to Index Track-

ing System and forwards the

same to the Supervising Ac-

countant for assignment.


2 Forwards document to as-

signed personnel


ant

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3 Evaluates the request for

opinion.

In case of the simple case

and/or no additional docu-

ments are needed for the

evaluation, prepares an Ad-

vertisement Letter or Memo-

randum containing the re-

sults of the evaluation

In case of complex case

and/or additional docu-

ments or further research are

needed, prepares Advise-

ment Letter to requesting

party that the subject matter

is under evaluation and may

require submission of addi-

tional requirements.

4 hours

16 hours

Assigned personnel

4 Reviews Advisement Letter or

Memorandum 30 minutes Supervising Account-

ant


ment Letter or Memorandum


6 If there is a submission of ad-

ditional documents, GO TO

STEP 3

1 hour Assigned personnel

7 Logs/Updates Index Tracking

System


END OF TRANSACTION

Table of Contents


Duration:


Pre-evaluation of application 20 minutes

Processing of application 1-3 days


Total duration: 31-33 days and 20 minutes

Table of Contents


Accreditation of External Auditor/Auditing Firms


Who may avail of the service : Auditing Firms, individual practitioners/external auditors What are the requirements :

1) Fully accomplished application form for external auditor (For initial: SEC Form ExA-001 – Revised 2009; For renewal:

SEC Form ExA-001-R).

2) Certificate of Registration as public practitioner issued by BOA.

3) Copies of certificates of participation in seminars/trainings.

4) Quality Assurance Manual

5) In case of Group A, B, and C accreditation, notarized certification that the applicant has fundamental knowledge of

the regulatory requirements on each of the other secondary licensees of the Commission.

6) Copies of Audited Financial Statements (AFS) of the applicant’s two (2) largest clients in terms of assets.

7) Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) – for those

availing the mutual recognition of accreditation.

8) Notarized complete list of corporate clients.

Notarized attestation of his/her adherence to the requirements of the Code of Ethics for Professional Accountants in

the Philippines

AUDITING

1) Fully accomplished application form for auditing firm (For initial: SEC Form AuF—002 – Revised 2009; For renewal: SEC Form AuF-002-R).

2) Certificate of Registration issued by BOA to the firm which is current and effective including its registered partners.

3) Quality Assurance Manual.

4) Copies of Audited Financial Statements (AFS) of the firm’s two (2) largest clients in terms of assets.

5) Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) – for those availing the mutual recogni-

tion of accreditation.

6) Notarized complete list of corporate clients.

7) List of employees/personnel and their qualifications/position (for Groups A and B).

8) Notarized attestation of the firm’s adherence to the requirements of the Code of Ethics for Professional Accountants in the Philippines.

http://www.sec.gov.ph/wp-content/uploads/2016/01/2009-SEC-Form-ExA-001-initia-external-auditorl.pdf

http://www.sec.gov.ph/wp-content/uploads/2016/01/2009-SEC-Form-ExA-001-Renewal-external-auditor.pdf

http://www.sec.gov.ph/wp-content/uploads/2015/08/2009-SEC-Form-AuF-002-Initial-Auditing-Firm.pdf

http://www.sec.gov.ph/wp-content/uploads/2015/08/2009-SEC-Form-AuF-002-Renewal-Auditing-Firm.pdf

Table of Contents







1 Secures application form

from the OGA

Provides client application

form, and checklist of re-

quirements.

5 minutes Officer of the day Auditing

Initial

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)


supporting documents 1) Pre-evaluates application


ments.



not complete, the

same are returned to

applicant with list of

requirements not com-

plied with

30 minutes Officer of the day






http://www.sec.gov.ph/wp-content/uploads/2016/01/2009-SEC-Form-ExA-001-initia-external-auditorl.pdf



Table of Contents








of the Day” clears ap-

plication for payment

of the prescribed fees

(applicant proceeds to

No.2)


ment Form (PAF) and instructs

applicant to proceed to the

Cashier

10 minutes

Executive Assistant



quired fee


sues O.R.

10 minutes Cashier Auditing Firm Group A

Filing Fee:

LRF*:

P

TotalP20,200

Group

Filing Fee:

P15,000

LRF*:

P150 TOTAL:

P15,150

Group C

Filing Fee:

P5,000

LRF*:

P50 TOTAL:

P5,050

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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.

Table of Contents






validated PAF to OGA with

the application and its sup-

porting documents

1) Checks contents and

stamps and receives the

three (3) sets of applica-

tion document

2) Returns one (1) copy of

the application document

to the client.

4 minutes

1 minute

Executive Assistant

Executive Assistant




wards the same to the su-


assignment.


2 Forwards documents 2 minutes Supervising Account-

ant



the OGA’s Evaluation Sheet

4 hours Assigned Personnel

4 Prepares comment letter to

applicant/s

5 Reviews comment letter and

Memorandum


ant

6 Reviews and sign comment

letter and Memorandum


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letter):



to comply with me the re-

quirements.

2) Reviews letter

3) Signs letter

10 minutes

5 minutes

5 minutes

General Accountant


ant

General Accountant



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

Memorandum to the

Commission En Banc


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.



ant

Table of Contents








(Upon receipt of clearance

from Supervising Commis-

sioner)


12 Reviews Evaluation Sheet 10 minutes Supervising Account-

ant

13 Signs final Evaluation Sheet

and forwards to Supervising

Commissioner for approval


14 Receives advice of the reso-

lution of the Commission En

Banc on the application for

A/B:



· Denial: Notifies the appli-

cant of the denial and

reasons thereof

· Deferment: Notifies the ap-

plicant of the deferment

and requirement to be com-

plied with or necessary ac-

tion to correct the deficien-

cy: GO TO STEP 4-6 and 8

onwards.


Table of Contents


Duration:



Processing of application 2 days









creditation (group A/B/C)





e) Notifies applicant that the

Certificate may be

picked up (in case of rep-

resentative, subject to

presentation of authoriza-

tion letter)

f) Releases Certificate of Ac-

creditation and forwards

duplicate file to Clerk

g) Logs in registry of Accred-

ited Firm/External Auditor;

informs Index Tracking

Personnel of the issuance

of the certificate

h) Provides the ICTD with up-

dated list

i) Updates tracking system

10 minutes

3 minutes

3 minutes

2 minutes

10 minutes

5 minutes

5 minutes

30 minutes

30 minutes

Executive Assistant

Assigned Personnel


ant

General Accountant

Executive Assistant

Executive Assistant

Executive Assistant

Executive Assistant

Index Tracking Per-

sonnel

END OF TRANSACTION

Table of Contents


Enforcement and Investor Protection Department

1) Investigates, motu proprio or upon complaint or referral, violations of laws rules and regulations enforced by the Commission; 2) Initiates the issuance of a Cease and Desist Order (CDO) by the Commission; 3) Conducts surveillance of the trading of securities in the exchanges and ensures compliance of market participants and intermediaries with

Sections 24, 26 and 27 of the SRC and its IRR; 4) Acts as the Anti-Money Laundering Desk of the Commission and acts on all requests made by the AMLC; 5) Acts as representative of the Commission on all matters relating to the IOSCO; 6) Performs such other functions as may be assigned by the Commission en banc or the Chair.

FRONTLINE SERVICE:

1) Receipt and Filing of Complaint

Table of Contents

Enforcement and Investor Protection Department P a g e 71

Receipt and Filing of Complaint


Who may avail of the service : Public (Investors, members, stockholders, officers, NGOs, etc.) What are the requirements :

1) with on Non-Forum 2) documents,

3) Filing fee of P2,000.00 plus 1% legal research fee (LRF) of P20.00





1 Registers with the guard

(lobby) and waits to be

called

Calls the officer of the day 1 minute Guard on Duty None None

2 Proceeds to the confer-

ence room Holds conference/meeting

with the client

1 hour or depends on the sub-

ject of complaint Officer of the Day None None

3 Assesses the inquiry/request

for assistance/verbal com-

plaint if within SEC’s jurisdic-

tion, if not, recommends ap-

propriate action.

If within SEC’s jurisdiction,

requests the client to pre-

pare and submit to the Of-

fice of the Director a verified

complaint with Certification

on Non-forum Shopping and

other supporting docu-

ments. In instances when the

client is unable to prepare a

verified complaint, a com-

plaint form will be provided

for him to accomplish/fill up.

-do- -do- None Verified complaint

with Certification

on Non-forum

Shopping / Com-

plaint Form

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Enforcement and Investor Protection Department P a g e 72




4 Submits to the Office of the

Director two (2) original

copies of verified com-

plaint with Certification on

Non-forum Shopping and

other supporting docu-

ments; or the accom-

plished complaint form.

Receives the documents

and forwards to the officer

of the day for assessment.

1 minute Office of the Direc-

tor’s Staff

Verified complaint

with Certification

on Non-forum

Shopping or Com-

plaint Form

5 Assesses the verified com-

plaint if it satisfies the formal

requisites.

15 minutes Officer of the day None

6 If the verified complaint is

acceptable, issues Payment

Assessment Form (PAF).

5 minutes Office of the Direc-

tor’s Staff

PAF



quired fee


sues O.R. 10 minutes Cashier P2,020.00 (Filing

fee + LRF)


validated PAF and O.R.,

and the receiving copy of

the verified complaint

Receives documents and

advises the client that a let-

ter will be sent to notify him

of the actions to be taken

by the department.

10 minutes Office of the Direc-

tor’s Staff

END OF TRANSACTION

Table of Contents


Markets and Securities Regulation Department

1) Registers securities and grants exemption from registration such as, but not limited to, equity securities, bonds, commercial papers issued by

issuer of registered equity and bonds, real estate investment trusts and other alternative investment products, and supervises and monitors

the compliance by the issuers of such products with legal and regulatory requirements;

2) Registers and supervises securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets

and other trading markets, self-regulatory organizations, clearing agencies, securities lending agencies, depositories, custodians, central

trade reporting systems; registrars of qualified buyers and other securities-related organizations for their compliance with legal and regula-

tory requirements;

3) Supervises intermediaries and market professionals such as brokers, dealers, government securities eligible dealers, government securities

brokers, associated persons and salespersons of broker dealers, transfer agents, investment houses, investment company advisers, mutual

fund distributors, compliance officers and certified investment solicitors of investment company advisers/mutual fund distributors, and other

securities market participants for their compliance with legal and regulatory requirements;

4) Reviews proposed rules of self-regulatory organizations (SROs) and other market participants, and proposed products and services in the

market to ensure their consistency with securities laws, regulations, policies and global best practices;

5) Reviews existing regulatory frameworks of the securities industry, conduct market-related research and recommends rules and/or reforms;

6) Establishes linkages with national and international organizations (e.g. ASEAN and APEC) and regulatory agencies with regard to the securi-

ties market, including cross-border products, services and arrangements;

7) Acts as National Numbering Agency for all securities issued in the Philippines;

8) Issues show cause orders, assesses and imposes penalties for non-compliance with rules and regulations implemented by the department;



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

Table of Contents

Market and Securities Regulation Department P a g e 74


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

11) Application of Registration as Registrar of Qualified Buyer

12) Application for Operator of Alternative Trading System and Central Trade Reporting System

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

Table of Contents


Application for Certificate of Permit to offer Securities for Sale and Order of Registration for Equities,

Debt Securities, Real Estate Investment Trust (REIT)


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 :


(under normal circum-

stances)


1 Presents SEC Form 12-1 for

Pre-evaluation

Specialist 1) SEC Form 12-1

2) Audited Financial

Statements (AFS)

and Additional

components of

the AFS

3) Statement of

Management

Responsibility on

the AFS

4) Required Exhibits

(Part VII of Annex

2 2.1 Reviews documents. Accom-

plishes pre-evaluation checklist

and provides copy to the appli-

cant based on the documents

presented.

If COMPLETE, go to Step2.3.

If INCOMPLETE, go to Step 2.2

1 hour

Specialist See separate

schedule of

fees and

charges here

Pre-evaluation

Checklist



Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

2 2.2 Returns document to applicant for compliance. END

2.3 Computes Filing Fee and issues Pay

ment Assessment Form (PAF) and

ad

vises applicant to pay prescribed

fee to the Cashier. Go to Step 3

5 minutes

10 minutes

Specialist PAF

3 Pays the prescribed Filing

fee to the Cashier

Issue Official Receipt and machine

validate PAF

varies Cashier See separate

schedule of

fees and

charges here

Official Receipt

and PAF

4 Submits PAF together with

the required documents

and its attachments to re-

ceiving clerk/support staff.

4.1 Receives /stamp and encodes

documents;

4.2 Delivers documents to Assistant

Director (AD) for assignment. Go

to Step 5.1

4.3 Updates records and delivers doc-

uments to assigned Securities Spe-

cialist and Legal Counsel. Go to Step 6.

4.4 Transmits letter to the Registrant. Go to Step 7.

4.5 Delivers Memo to Supervising

Commissioner/ Commission Secre-

tary for Agenda

4.6 Forwards records to ICTD for micro-

filming. END

10 minutes

10 minutes

10 minutes

30 minutes

10 minutes

10 minutes

Support Staff

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

5 5.1 Assigns application to Specialist

and Legal Counsel. Return docu-

ments to Support Specialist. Go to Step 4.3

5.2 Reviews and initials the following:

5.2.a. DRAFT letter/ memo/

advisement/Pre-effective Letter/

Order of Registration/ Permit to

Sell/Notice

5.2.b. FINAL letter/memo/ advise-

ment/Pre-effective letter/ memo/

advisement/ Order of Registra-

tion/ Permit to Sell/Notice

5.3 Go to Step 9.

10 minutes

1 day

Assistant Director

6 If Initial Filing:

6.1 Reviews documents

6.2 Refers the Underwriting/ Manage-

ment/Distribution Agreement to

Securities Market Division

6.3 Refers Financial Statements to

OGA/Refer ID Matters to CGFD/Repeats Step 8

6.4 Refers to OTHER GOVERNMENT

AGENCIES/EXTENSION OFFICE/PSE

(if applicable)

6.5 Conducts Ocular Inspection

(if applicable/allowed)

6.6 Prepares and initials DRAFT/FINAL

1st COMMENT LETTER based on find-ings. Repeats Step 5.2

7 days

3 days

1 to 2 days

Securities

Specialist / Legal

Counsel

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

6 IF 1st Revision – Compliance with 2nd

COMMENT LETTER

6.7 Repeat Steps 6.1, 6.3, 6.4 and/or

conducts meeting with the Regis-

trant.

6.7.a. If compliant with all the requirements, Go to Step 6.8.a.

6.7.b. If still not compliant, pre-

pares and initials DRAFT/FINAL 2nd-

COMMENT LETTER. Repeats Step 5.2.

3 days

IF 2nd Revision – Compliance with 2nd

COMMENT LETTER

6.8 Repeats Steps 6.1, 6.3, 6.4 and/or

conducts meeting with the Regis-

trant.

6.8.a. If AFS were cleared by

OGA, prepares and initials DRAFT/

FINAL MEMO. Repeat Step 5.2

6.8.b. If still not compliant or NO

COMPLIANCE, endorses to Legal

Counsel for Hearing.

6.9 Prepares DRAFT/FINAL NOTICE OF HEARING. Repeats Step 5.2.

6.10 Legal Counsel holds meeting for

REJECTION of the application.

6.11 Prepares DRAFT/FINAL REJECTION

LETTER. Repeat Step 5.2.

3 days

30 minutes

2 hours

1 hour

Securities Special-

ist/ Legal Counsel

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

7 7.1 Files reply/compliance

with Comment Letter to

support staff

7.1a. Set appointment

with Office of the Direc-

tor for schedule of Man-

agement Presentation

7.1b. Conducts Presen-

tation with MSRD Staff

If reply to 1st Comment Letter

or 2nd Comment Letter. Re-

peats Steps 4.1 and 4.3.

7.2 If application is deferred,

submits compliance re-

quirements. Repeats Steps 4.1 and 4.3.

7.3 If rendered effective,

submits FINAL PROSPEC-

TUS.

Repeats Steps 4.1, 4.3

and Go to Step 11

7.4 Receives ORDER OF REG-

ISTRATION and PERMIT TO SELL/REJECTION. Go to Step

13

8 8.1.a Reviews and evaluates AFS;

8.1.b. Reviews and evaluates ID

qualifications

8.2 Endorses findings to MSRD. Go to Step 6.6

OGA

CGFD

OGA/CGFD

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

9 9.1 For DRAFT COMMENT/PRE-EFFECTIVE LETTER/MEMORANDUM/

REJECTION LETTER/ ORDER OF REG-

ISTRATION/PERMIT TO SELL/NOTICE

9.1.a. Reviews and initials

documents

9.1.b. Returns document to Sup-

port

Staff. Go to Steps 4.3 and

6.7

or 6.8 or 6.9

9.2 For FINAL COMMENT/PRE-EFFECTIVE/ADVISEMENT LETTER/

NOTICE.

Reviews and signs document.

Repeat Step 4.4

9.3 If FINAL MEMO, reviews and signs

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

9.4 Presents to the Commission En

Banc.

9.5 Informs Specialist/Legal Counsel

of En Banc Decision. Go to Step

10.

For ORDER OF REGISTRATION and PER-MIT TO SELL

9.6. Reviews and signs document.

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

3 hours

10 minutes

3 hours

1 day

1 hour

10 minutes

Director

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

10 Upon receipt of the Commission’s action

on the Memorandum:

If Registration Statement is DENIED/

DEFERRED

10.1 Prepare DRAFT/FINAL ADVISEMENT

LETTER

Repeat Steps 5.2, 9.1, 9.2 and 4.4

If Registration Statement is RENDERED EF-

FECTIVE,

10.2 Prepare PRE-EFFECTIVE LETTER.

Repeat Steps 5.2, 9.1, 9.2 and go to

Step 7.3

2 days

Securities Specialist

11 11.1 Computes adjustment fee, if neces-

sary and inform registrant of the ad-

ditional fee. Go to Steps 3 and 4.3.

11.2 If COMPLETE. Go to Step 12

11.3 If INCOMPLETE, notifies registrant to

comply with and submit the require

ments. Go to Step 7.3

30 minutes Securities Specialist

12 Prepares CERTIFICATE OF PERMIT TO SELL

and ORDER OF REGISTRATION

12.1 Prints draft/final copies of Certificate

of Permit to Sell and Order of Regis-

tration

12.2 Initials copy

12.3 Repeat Steps 5.2 and 9.6

12.4 Notifies issuer that the Permit and Or-

der are ready for release at the

MSRD. Go to Step 7.4

12.5 Forwards records to Support Staff. Go

to Step 4.6

10 minutes

5 minutes

10 minutes

Securities Specialist/

Legal Counsel

Table of Contents


*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



stances)

PERSON IN

CHARGE

FEES FORM

13 Publication/uploading of

Order rendering effective

the Registration Statement

Repeat Step 4.1 and 4.3 10 minutes Support Staff

14 Submits written notification

of completion or termina-

tion of the offering includ-

ing the number of securi-

ties sold

Repeat Step 6.8.a, 5.2, 5.3

Repeat Step 9.1, 9.2 and 9.4

A week after receipt of

termination report

Specialist

Director

END OF TRANSACTION

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

Not more than P500 Million 0.10% of the maximum aggregate price of the securities to be offered

More than P500 Million but not more than P750 Million P500,000 plus 0.075% of the excess over P500 Million

More than P750 Million but not more than P1 Billion P687,500 plus 0.05% of the excess over P750 Million

More than P1 Billion P812,500 plus 0.025% of the excess over P1 Billion

Table of Contents


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)


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 :



stances)


1 Presents Petition for Revo-

cation

Issues Payment Assessment Form

(PAF)

10 minutes Specialist P5,000 PAF

2 Receives the PAF and pro-

ceeds to Cashier for pay-

ment

Issue Official Receipt and machine

validate PAF

Varies Cashier Amount Im-

posed

Official Receipt

and PAF

3 Forwards validated PAF

and documents to Support

Staff

Receives the validate PAF and

documents. Forwards to Support

Staff

10 minutes Office of the Director

4 4.1 Receives and encodes

documents;


Director (AD) for assignment. Go to Step 5.1

4.3 Updates records and/or deliv-

ers documents to assigned Le-gal Counsel. Go Step 6.1

10 minutes

5 minutes

10 minutes

Support Staff

Table of Contents




stances)


4 4.4 Transmits letter to the Registrant.

Go to Step 5.


Commissioner/ Commission Sec-

retary for En Banc presentation.

Go to Step 7.4

4.6 Forwards records to ICTD for mi-

crofilming and uploading in SEC’s

website and Fax copy to PSE/

PDEx. END

30 minutes

10 minutes

15 minutes

Support Staff

5 5.1 Assigns application to Legal

Counsel. Forwards documents to

Support Staff. Go to Steps 4.3


5.2.a. DRAFT letter/ memo/

advisement/ Order of Revoca-

tion. Go to Step 7.1 and Step 4.3

5.2.b. FINAL letter/memo/ advise

ment letter/ Order of Revocat

ion. Go to Step 7

10 minutes

1 day

1 day

Assistant Director

6 6.1 Reviews documents, prepares

and initials DRAFT/FINAL Notice of

Filing of Petition for Voluntary

Revocation . Go to Steps 5.2,

7.1/9 and 4.3

6.2 Prepares DRAFT/FINAL Memo.

6.3 Repeat Step 5.2

1 day Legal Counsel

Table of Contents




stances)


7 7.1 For DRAFT COMMENT/ NOTICE/

MEMORANDUM/ORDER

7.1.a. Reviews and Initial

document

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

7.2 For FINAL COMMENT/ NOTICE/

MEMORANDUM/ORDER

7.2.a. Reviews and signs docu-ment. Go to Step 4.3, 4.4 and 4.6

7.3 If FINAL MEMO, review and sign document. Go to Step 4.5.


Banc

7.5 Informs Legal Counsel of En Banc Decision. Go to Step 6.2

7.6 For ORDER OF REVOCATION

7.6.a Reviews and signs docu-ment. Go to Step 4.3 and 4.6

3 hours

3 hours

1 day

10 minutes

Director

8 Receive and publish ap-

proved Notice of Filing of

Petition for Voluntary Rev-

ocation

9 Submits Affidavit of Publi-

cation

Receives affidavit and wait for complaints. Go to Step 5.2

15 business days

Table of Contents




stances)


10 Upon receipt of the Commission’s

action on the Memorandum: If DENIED/DEFERRED

10.1 Prepare DRAFT/FINAL ADVISE-MENT LETTER. Repeat Steps 4.2,

6.2, 7.1, 7.2 and 4.4

10.2 If GRANTED. Go to Step 11

30 minutes

Legal Counsel

11 Prepares ORDER OF REVOCATION

11.1 Prints draft/final copies of Or-

der of Revocation

11.2 Initial Copy

11.3 Repeat Steps 5.2 and Go to

Step 7.6

11.4 Notifies issuer that the Order is

ready for release at the MSRD. Go to Step 12 and Step 4.6

Legal Counsel

12 12.1 Receives ORDER of Revocation .

12.2 Submits Affidavit of

Publication

12.1 Endorse copy of the Order to

ICTD for posting

12.2 Posting of Order of Revoca-

tion at Commission’s website

Varies Specialist

ICTD Staff

END OF TRANSACTION

Table of Contents


Application for Confirmation of Exempt Transaction


Who may avail of the service : Any person seeking for confirmation of an exemption from the Commission What are the requirements : 1) SEC Form 10.1 Additional Requirements for Listed Companies: 2) Written Disclosure 1) Mandate letter from Underwriters

3) Notice to Stockholders 2) Underwriting Agreement

4) List of Stockholders 3) Certification of No Remuneration/Compensation

5) Latest Audited Financial Statements

6) Waiver of Pre-emptive Rights (if applicable) How to avail of the service :



stances)


1 Secures Application for

Registration from MSRD/

SEC website

Gives client the application form for

confirmation of exempt ion and

additional instructions

10 minutes Support Staff 1) SEC Form 10.1

2) Other docu-

ments

2 Presents documents Pre-process the accomplished form

and supporting documents

If incomplete, returns document for

completion

If complete, prepare the Payment

Assessment Form and advises

client to pay the prescribed fee

at the Cashier.

30 minutes Specialist Application Letter

with supporting

documents

Payment Assess-

ment Form (PAF)


Cashier and settles the pre-

scribed fee

Processes payment and issues Offi-

cial Receipt and validate PAF

N.B. Fees paid relative to the ex-

emption shall be credited as filing

fee for the subsequent registration

of exempted securities

10 minutes Cashier 1/10 of 1%

of the Aggre-

gate Total Val-

ue of the

Shares / Securi-

ties to be sold

or issued but in

no case less

than P1,000.

Official Receipt

and PAF



Table of Contents




stances)


4 Submits application, sup-

porting documents and

machine-validated PAF/

Official Receipt

a) Receives and forwards the ap-

plication form to the CRMD

Staff.

b) Advises the applicant to follow-

up the application at MSRD.

c) Upon receipt of the application,

Encodes the application in

the SEC Internal Database,

and provide “Document ID

Number”

Attaches a copy of the latest

submitted (Amended) Arti-

cles of Incorporation and/or

any incorporation docu-

ments.

d) Logs and delivers the application

form to MSRD

3-5 days CRMD Support Staff

CRMD Staff

CRMD Support Staff

5 Receives, encodes and forwards

application for confirmation to the

Assistant Director

15 minutes Support Staff

6 Makes an evaluation of the request.

Issues resolution on the application

1 hour Specialist

7 Reviews and make additional in-

puts, if necessary

1 hour Chief Counsel

8 Reviews and signs the resolution

1 day Director

9 Picks-up and receives the

Resolution or Letter from

MSRD.

Transmits resolution to applicant

and Electronic Records Manage-

ment Division.


END OF TRANSACTION

Table of Contents


Application for Exemption from Registration of Stock Option Plan


Who may avail of the service : Any entity that issues stock offering plan What are the requirements :

A. Letter Request containing the following information: Registered Name of the Applicant/User

Purpose of the Grant of the Applicant

Number of Option Shares to be issued/Offer Price

Names and Addresses of the Applicant subsidiaries and affiliated companies and their dates of registration with the SEC

Issue Price or Exchange Rate, including the source or basis of the “option shares at the time of filing”

Term of the Stock Option Plan

B. Latest Audited Financial Statements

C. Articles of Incorporation of the Applicant/Issuer

D. Board of Directors’ and Stockholders’ Resolution approving the plan and authorizing the issuance of stock options

E. Notarized attestation of the Corporate Secretary of the applicant pursuant to Rule 10.2.3.2: Approval of the applicant’s Board of Directors and required Stockholders’ approval of the stock offering plan

Genuineness and due execution of the Plan, a copy of which shall be attached to the certificate

If applicable, Breakdown of the number of option shares earlier exempted from registration, the shares subscribed by the optionees, and

the remaining unissued shares computed on a year-to year basis, status of the unissued shares and an explanation on why the applicant

has renewed its application in spite of the availability of unissued shares If the applicant is a foreign corporation, the procedures or guidelines of the Plan on the sale, assignment, transfer or disposition of the

shares acquired by the optionees.

F. Certificate under Oath by the applicant’s Head of Human Relations or equivalent position, or President of the Employees Union , at the option at

the applicants, on the following items:

Names and positions of eligible or qualified optionees and number of allotment per employee

Statement that the optionees have been informed about the terms and conditions, including the attendant risks of the Plan, to enable

them to make a reasonable judgment on the advantages and disadvantages of the Plan Reading materials, i.e. brochures, pamphlets, etc., if any

Disclosure whether or not there are Independent Directors grantees. If yes, disclose the total percentage of ownership after the grant

G. Undertaking to pay price difference from the price at the time of filing before the SEC

H. Undertaking for the Issuer to give continuous access on its Key Performance Indicators

Table of Contents





stances)


1 Secures checklist of from

MSRD.

Provides client with checklist of re-

quirements and instruction

10 minutes Support Staff Checklist of Require-

ments

2 Presents the accomplished

form and supporting docu-

ments for pre-processing

Pre-processes the accomplished form


2.1.a If incomplete, returns docu-

ments for completion

2.1.b If complete, prepares the Pay-

ment Assessment Form and advises

client to pay the prescribed fee at

the Cashier.


with supporting doc-

uments

PAF



scribed fee

Processes payment and issues Official

Receipt and validate PAF


of the Aggre-

gate Total Val-

ue of the

Shares / Securi-

ties being of-

fered plus 1%

LRF

Issuance of Official

Receipt and PAF


porting documents and ma-

chine-validated PAF

4.1 Receives and encodes docu-

ments;

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


Commissioner/Commission Secre-

tary

4.6 Forwards records to ICTD for

microfilming. END


Table of Contents




stances)



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

Assistant Director

6 6.1 Review documents

6.2 Prepare and initials DRAFT/FINAL

Comment Letter/based

on findings or En Banc Decision Repeat Steps 5.2

6.3 Prepare DRAFT/FINAL Memo/

Resolution.

Go to Step 8

Specialist/Staff

7 Files reply/compliance with

Comment Letter

If compliant, Go to Step 6.3

8 For DRAFT/FINAL

Comment/Memo/Resolution

8.1 Review and initials documents

8.2 Returns documents to Special-

ist / Assistant Director. Go to Step 6

8.3 Presents to Commission En Banc

8.4 Inform Specialist of En Banc Deci sion. Go to Step 6.3

8.5 Review and signs document. Go to Step 4.6

Director



MSRD.

END OF TRANSACTION

Table of Contents


Application for Exemption from Registration of Limited Public Offering and Other Exempt

Transaction


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 :



stances)


1 Secures checklist of from

MSRD.

Provides client with checklist of re-

quirements and instruction

10 minutes Support Staff Checklist of Re-

quirements




Pre-processes the accomplished

form and supporting documents

2.1.a If incomplete, returns docu-

ments for completion

2.1.b If complete, prepares the

Payment Assessment Form and ad-

vises client to pay the prescribed

fee at the Cashier.


with supporting

documents

PAF



scribed fee




of the Aggre-

gate Total Val-

ue of the

Shares / Securi-

ties being of-

fered plus 1%

LRF

Issuance of Official

Receipt and PAF

Table of Contents




stances)




machine-validated PAF

4.1 Receives and encodes docu-

ments;

4.2 Delivers document to Assistant



documents to assigned Spe-cialist. Go to Step 6

4.4 Transmit letter to applicant. Go to Step 7


Commissioner/Commission Sec-

retary


microfilming. END



5.2 Review and initials the follow-

ing:

5.2.a. DRAFT letter/memo ad-

visement/Resolution

5.2.b. FINAL letter/memo ad-

visement/Resolution

Assistant Director


6.2 Prepare and initials DRAFT/

FINAL Comment Letter based on findings. Repeat Steps 5.2

6.3 Prepare DRAFT/FINAL Memo/

Resolution. Go to Step 8

Specialist

7 Files reply/compliance with

Comment Letter

If compliant, Go to Step 6.3

Table of Contents




stances)


8 For DRAFT/FINAL

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

Director



MSRD.

END OF TRANSACTION

Table of Contents


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


Who may avail of the service : Registered Issuer of Equities, Debt Securities and Real Estate Investment Trust (REIT) and Reporting Companies

What are the requirements : 1) SEC Form 20-IS

2) Management Report How to avail of the service :



stances)


1 Presents Preliminary copies

of Information Statement

(IS) and Management Re-

port (MR)

Prepares Payment Assessment Form

(PAF) and advises client to pay the

prescribed fee at the Cashier

10 minutes Specialist P5,050 for

registrant

P2,020 other

than the regis-

trant

SEC Form 20-IS

(Preliminary)

Management Re-

port



scribed fee


cial Receipt and validates PAF

10 minutes Cashier Official Receipt

and PAF

3 Submits IS, MR and ma-

chine-validated PAF

a) Receives and forwards docu-

ments

b) Faxes comment


4 a) Receives, encodes and/or for-

wards documents to assigned

Specialist

b) Mails comment.

c) Encodes and forwards docu-

ments to ICTD for microfilming. END


5 Reviews and prepares DRAFT/FINAL

comment letter 2 hours Specialist

6 Reviews and Initials DRAFT/FINAL

Comment letter

1 hour Assistant Director



Table of Contents




stances)


7 Reviews and signs DRAFT/FINAL Comment letter. Repeat Step 3

1 hour Director

8 Files Definitive IS and MR

Calls MSRD Specialist for

clearance.

If compliant : Distribute

copies to stockholders. END

a) Reviews documents, if compli-

ant, advises to proceed with

the distribution of IS and MR to

stockholders.

If not compliant, issues 2nd com-ment letter, Repeat Steps 5 to 7.

Specialist SEC Form 20-IS

(Definitive Copy)

Management Re-

port

9 9.1 Submits necessary infor-

mation/documents

9.2 Files an undertaking to

comply with Commission

directive

9.3 Submits Order of Publi-

cation

a) Reviews documents

b) Forwards request to Lawyer and

prepares Order allowing Issuer to distribute. Repeat Steps 6

and 7

c) Consolidates documents and

forward to Support Staff. Re-peat Step 4.3

Specialist/Lawyer MSRD Order

END OF TRANSACTION


Table of Contents


Request for Exemptive Relief/Confidential Treatment of Information Filed


Who may avail of the service : Registered Issuer of Equities, Debt Securities and Real Estate Investment Trust (REIT)

What are the requirements : Letter Request and the required exhibits How to avail of the service :



stances)


1 Submit documents Issue Payment Assessment Form (PAF) Specialist P50,000 per issue

and per compa-

ny*

Request for con-

fidentiality has

no filing fee

PAF

2 Receives PAF and proceeds

to Cashier for payment

Receives payment and issue Official

Receipt and machine validate PAF

Varies Cashier Amount im-

posed

3 Forwards validated PAF and

documents to receiving

Receives the validate PAF and docu-

ment. Forward to handling Specialist

3.1 Receives and encodes documents



to Step 4.1

3.3 Updates records and delivers docu

ments to assigned Legal Counsel.

Go to Step 5.1.

3.4 Transmit letter to registrant. Go to

Step 8.

3.5 Delivers Memo to Supervising Com-

missioner/Commission Secretary for En

Banc presentation. Go to Step

3.6 Forwards records to ICTD for micro-

filming. END

10 minutes Support Staff PAF

Letter request

Table of Contents




stances)


4 4.1 Assigns application to Legal Coun-

sel. Forwards documents to Support

Staff. Go to Step 3.3


4.2.a. DRAFT letter/memo/

advisement. Go to Step 6.1 and 7.1

4.2.b. FINAL letter/memo/

advisement letter. Go to Step 7.2

10 minutes Assistant Director


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

pare and initial DRAFT/FINAL letter

directing to provide additional in-

formation from the company. Go

to Step 4.2

5.1.b. If the request is not novel or

the department has received the

additional information pursuant to

Step 5.1.a hereof, prepare Memo-

randum to the Commission En

Banc. Go to Step 6.

5.2 Prepares and initials DRAFT/FINAL

letter of advisement. Repeat Steps

Legal Counsel

6 6.1 For DRAFT COMMENT/NOTICE/

MEMORANDUM

6.1.a. Reviews and initial docu-

ments. Go to Step 4.2.b.

6.1.b. Returns document to Legal

Counsel.

Director

Table of Contents




stances)


6 6.2 For FINAL COMMENT/NOTICE

6.2.a. Reviews and signs docu-ment. Go to Step 4.2.b.

6.3 If FINAL MEMO, review and sign

document.


Banc

6.5 Informs Legal Counsel of En

Banc Decision .

Director

7 7.1 Receives advice of the resolu-

tion of the Commission on the ap-

plication.

7.1.a If approved, prepares a

letter informing the applicant of the approval. Repeat Step

4.2,.

7.1.b If not approved, prepares

a letter informing the applicant

of the denial of the request

and additional instructions/

guidance from the Commis-sion. Repeat Step 4.2

7.2 Seals documents and forwards

to Office of the Commission Secre-tary for safe keeping . END

1 day after the Commis-

sion En Banc meeting

Legal Counsel

8 Receives Letter of Advise-

ment

END OF TRANSACTION

Table of Contents


Accreditation of Surety Companies


Who may avail of the service : Surety Companies What are the requirements : All documents enumerated in Form SCA-001 How to avail of the service :



stances)


PRE PROCESSING

1 Secures application form Provides client application forms, and

checklist of requirements.

5 minutes Specialist assigned Form SCA-001


supporting documents 1) Pre-evaluates application and sup-

porting documents

if application and supporting doc-

uments are not complete, these

are returned to applicant with the

list of requirements not complied

with

if application and supporting doc-

uments are complete, the Special-

ist -in -charge clears application for

payment of the prescribed fees

(proceeds to No. 2)

2) Prepares Payment Assessment

Form (PAF) and instructs applicant to

leave a copy of the application doc-

uments with MSRD and to proceed to

the Cashier

30 minutes

10 minutes

Specialist assigned PAF



quired fee

Processes payment and issues OFFI-

CIAL RECEIPT and machine validate

PAF

10 minutes Cashier Filing Fee:

P5,000.00

LRF*: P50.00


validated PAF

Secures and attach the machine-

validated PAF to the application

documents.

1 minute

3 minutes

Specialist assigned



Table of Contents




stances)



1 Assigns application to Specialist in

charge and inputs in logbook


2 Forwards documents to Specialist in-

charge


3 Reviews application and supporting

documents using checklist.

1 day Specialist assigned

4 If application is fully compliant with all

requirements, prepares Memorandum

to Commission to En Banc


5 Reviews memorandum and forwards it

to Support Staff

Within 1 day Legal Counsel/Assistant

Director

6 Support staff logs memorandum and

forwards it to Director


7 Reviews memorandum Within 1 day Director

8 Signs and presents Memo to the Com-

mission En Banc for consideration

Within the immediately

succeeding Commission en

Banc meeting

Director

9 Receives advice of the resolution of the

Commission on the application:

If approved:

a) Prepares Certificates of Accredita-

tion

b) Prints two (2) 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

Within 1 day after the

Commission En Banc meet-

ing

Specialist assigned

END OF TRANSACTION

Table of Contents


Request for SEC Clearance


Who may avail of the service : Any entity as may be allowed by the Commission and Holder of a Secondary License What are the requirements : SEC MSRD Request Form How to avail of the service :



stances)


1 Secures SEC-MSRD request

form Advises applicant to submit SEC-

MSRD request form and gives client

the necessary instructions

10 minutes Support Staff SEC-MSRD request

form

2 Submits filled-up SEC-MSRD

request form Receives request form or request

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.



1 Logs in and forwards request letter

to Specialist- in- charge. 10 minutes Support Staff

2 Evaluates request, prepares the

clearance needed and submits

to the Support Staff for recording

purposes.

30 minutes Specialist assigned

3 Forwards the documents to the As-

sistant Director 30 minutes Support Staff

4 Reviews Clearance:

If no revision is needed, forwards to

the Support Staff for submission to

the Director for signature

If revision is needed, returns to spe-

cialist for revision.

30 minutes Securities Counsel/

Chief Counsel/

Assistant Director

Table of Contents




stances)


5 5.1 Makes the necessary revision

and forwards the same to the Sup-

port Staff for recording.

5.2 Files clearance, request letter

and supporting documents.


6 6.1 Forwards the clearance to the

Assistant Director for initial. 6.2 Forwards the Clearance to the

Director for final review/signature


7 7.1 Reviews Clearance and recom-

mends revisions, if warranted.

7.2 If no further comments/revisions,

signs and forwards to the Executive

Assistant for release.

30 minutes Director

END OF TRANSACTION

Table of Contents


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

Partnership/By-Laws and Amendments relative thereto


Who may avail of the service : Holder of a Secondary License What are the requirements : SEC MSRD Request Form How to avail of the service :



stances)


1 Secures SEC-MSRD request

form Advises applicant to submit SEC-

MSRD request form and gives client

the necessary instructions

10 minutes Support Staff SEC-MSRD request

form

2 Submits filled-up SEC-MSRD

request form with attached

Receives request form or request

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



1 Logs in and forwards request letter

to Specialist- in- charge. 10 minutes Support Staff

2 Evaluates request and prepares the

comments/recommendations and

returns to Support Staff for record-

ing purposes and submission to the

Assistant Director.


3 Reviews Comments/ Recommen-

dation:

If no revision is needed, forwards to

Director for signature.

If revision is needed, returns to spe-

cialist for revision.

Within 1 day Securities Counsel/

Chief Counsel/

Assistant Director

Table of Contents




stances)


4 Makes the necessary revision and

forwards the documents to the Sup-

port Staff for recording.


5 5.1 Forwards the comments/ rec-

ommendations to the Assistant Di-

rector for initial. 5.2 Forwards the comment/

recom-mendations to the Director

for final review/signature


6 Reviews comments/ recommenda-

tion and recommends revisions, if

warranted. If no further comment/revisions,

signs and forwards to the Executive

Assistant for release

Within 1 day Director

7 File comments/recommendations,

request letter and supporting docu-

ments.


END OF TRANSACTION

Table of Contents


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

Clearing Agency-SRO and Depository


Who may avail of the service : Exchanges and Other Securities Trading Markets What are the requirements :

A. Cover Sheet

B. SEC Form-33/SEC Form 33-SRO (For Exchange); SEC Form 42-CA/SEC Form 42-SRO (For Clearing Agency); SEC Form 42-SD/SEC Form 42-SRO

(For Securities Depository)

C. Statements and Exhibits required by SEC Form-33/SEC Form 33-SRO; SEC Form 42-CA/SEC Form 42-SRO; SEC Form 42-SD/SEC Form 42-SRO

D. Copy of the latest GIS

E. Copy of the license of the CPA

F. Manual on Corporate Governance

G. Other requirements under Section 33.1 and 39.1.1 of the 2015 SRC Rules (for Exchange/Exchange-SRO)

H. Other requirements under Section 42.1 and 39.1.1 of the 2015 SRC Rules (for Clearing Agency and Securities Depository) How to avail of the service :



stances)



Registration from MSRD.

Gives client the necessary applica-

tion form and additional instructions

10 minutes Support Staff a) SEC Form 33/

SEC Form 33-

SRO

b) SEC Form 42-

CA/SEC Form

42-SRO c) SEC Form 42-SD/

SEC Form 42-SRO




by the MSRD Specialist

Pre-processes the accomplished

form and supporting documents

a) If incomplete, completes the

documents first.

b) If documents are complete,

prepares the Payment Assess-

ment Form and advises client to

pay the prescribed fee at the

Cashier.

30 minutes Specialist See separate

schedule of

fees and

charges here

Accomplished SEC

Form With support-

ing documents

Payment Assess-

ment Form (PAF)





http://www.sec.gov.ph/wp-content/uploads/2015/07/SEC-Form-42-CA-42-SD-42-SRO-42-AMD.doc




Table of Contents




stances)




scribed fee



10 minutes Cashier P50,500

(inclusive of 1%

Legal Research

Fee)

Official Receipt

and PAF




OR

Receives, encodes and forwards

the application to the Assistant Di-

rector or Specialist or Legal Counsel


5 Reviews and examines documents

as to their compliance with the re-

quirements of the SRC.

a) If the documents are deficient,

requests applicant to correct

deficiencies. OTHERWISE, go to STEP 2.

b) Accepts corrected documents.

90 days Chief Counsel

Securities Counsel

Examiner

Specialist

6 Prepares Comment or Memoran-

dum elevating the matter to the

Commission En Banc for its approv-

al.


Securities Counsel

Examiner

Specialist

7 Reviews the Comment and/or

Memorandum.

3 days Assistant Director

8 Reviews and Signs the Comment

and/or Memorandum for presenta-

tion to the Commission En Banc.

1 day Director

9 Transmits the Comment to the Ap-

plicant or; Transmits the Memoran-

dum to the Commission Secretary

for inclusion in the Agenda of the

Commission En Banc’s meeting.


Table of Contents




stances)


10 Presents the application to the

Commission En Banc.

1 day Director

11 If registration is approved,

a) Prepares the certificate or li-

cense, and forwards it to the

Div.’s support staff.

b) Assigns and records license

number to the prepared certifi-

cate or license.

c) Forwards the certificate or li-

cense, and other documents to

the AD for review and initial.

d) AD reviews and initials.

e) Forwards the certificate or li-


the Director for review and sig-

nature.

f) Director reviews and signs.

g) Records and then forwards orig-

inally-signed certificate or li-

cense to the ERMD-Releasing

Section for release.

h) Provides the IPSD w/ a replicate

copy of the certificate or li-

cense for filing.

i) Files replicate copy.

30 minutes

10 minutes

3 minutes

1 hour

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Support Staff

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Specialist/Support

Staff

12 If the Commission favors instituting

Proceedings for denial, it

a) Schedules hearing

b) Conducts hearing

c) Makes decision

Director

Commission

Table of Contents




stances)


13 If after hearing, registration is ap-proved, go to STEP 11.

14 If after hearing, registration is de-

nied,

a) Drafts response letter informing

applicant of the decision.

b) Forwards draft copy to AD for

review.

c) AD reviews draft letter and

gives instruction.

d) Prepares final copy incorporat-

ing suggested changes by the

AD, if any.

e) Forwards the letter to the AD for

review and signature.

f) AD reviews and initials.

g) Forwards the letter to the Direc-

tor for review and signature.

h) Director reviews and signs.

i) Records and forwards to the

Mailing Section of the SEC the

signed letter for transmittal to

the applicant.

j) Provides the IPSD with a repli-

cate copy of the letter for filing.

k) Files replicate copy.

1 day

3 minutes

4 hours

30 minutes

3 minutes

30 minutes

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Specialist

Assistant Director

Specialist

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Specialist

Support/Clerical


license/certificate from

ERMD-Releasing, or Denial

Letter from MSRD

Verbally requests applicant to pick

up and receive the

a) License or certificate, if ap-

proved, or

b) Denial letter, if denied.

20 minutes Specialist

END OF TRANSACTION

Table of Contents


Filing Fee:

New Annual Fees

Exchanges PhP50,000 + LRF of 1% See table below

Philippine Stock Exchange (PSE)

Additional Fees of Exchanges

Per Semester, 1/100 of 1% of the aggregate amount of sales of securities transacted on such Exchange during

the preceding calendar year or any part thereof.

Philippine Dealing and Exchange Corpora-

tion (PDEX)

Additional Fees of Exchanges

Per Semester, 1/1,000 of 1% of the aggregate amount of sales of securities transacted on such Exchange during

the preceding calendar year or any part thereof.

(The complete list of Transaction Fees for the Value Turnovers per Semester was provided in SEC Memorandum

Circular No. 12, Series of 2016)

Clearing Agencies PhP50,000 + LRF of 1% 1/1,000 of 1% of transactions cleared and settled in the

previous year + LRF of 1%

Central Depositories PhP50,000 + LRF of 1% 1/2,000 of 1% of securities in custody during the previ-

ous year + LRF of 1%

Self Regulatory Organizations (SRO) PhP50,000 + LRF of 1% PhP100,000 + LRF of 1%

Table of Contents


Application of Registration as Registrar of Qualified Buyer


Who may avail of the service : Any entity as may be allowed by the Commission What are the requirements :

A. Cover Sheet

B. SEC Form 39-Registrar

C. Attachments required by SEC Form 39-Registrar How to avail of the service :



stances)





tion form and additional instructions 10 minutes Support Staff SEC Form 39-

Registrar/AMD

2 Submits the accomplished

form and other documents

to MSRD for review and

processing

Evaluates registration documents

submitted and prepares letter to

applicant to make presentation on

their registry procedures

30 minutes Specialist/Examiner Accomplished SEC

Form With support-

ing documents

3 Makes a presentation to

MSRD on the registry pro-

cedures.

Attends the presentation to MSRD

on the registry procedures. 1 hour Specialist/Examiner

Director /Chief

Counsel

4 Waits for the advise from

MSRD if the result of review

is Ok and application is

approved otherwise, ac-

complish first what is being

required.

Specialist reviews the contents of

the submitted documents as well as

the presentation made as to their

compliance with the requirements

of relevant laws, rules and regula-

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

30 minutes Specialist/Examiner

Table of Contents




stances)


5 Preparation of deficiency letter

a) Specialist prepares letter to appli-

cant for the deficiency(s)/ obser-

vation(s) noted

b) Specialist forwards the draft to

the AD for further review

c) AD reviews and comments

d) AD returns draft to the Specialist

for revision, if any

e) Specialist finalizes the draft, initials

and forwards the same to the AD

f) AD reviews, initials and forwards

to Director for final review and

approval

g) Director reviews and signs Direc-

tor forwards signed letter to the

Support/Clerical Staff for transmit-

tal

30 minutes

3 minutes

1 hour

30 minutes

30 minutes

1 hour

Specialist/Examiner

Specialist/Examiner

Assistant Director

Specialist/Examiner

Assistant Director

Director

6 6.1 Support Staff receives reply letter

from the applicant and supporting

documents, if any

6.2 Support Staff logs the document

and forwards it to the AD


7 AD forwards the additional docu-

ments to the concerned Specialist


8 Specialist reviews and evaluates again

the contents of the additional docu-

ments submitted

a) If additional documents are suffi-

cient and compliant, proceed to

STEP 10

b) If additional documents are still de-

ficient and non-compliant, send

deficiency letter to applicant. Pro-

ceed to STEP 5

1 hour Specialist/Examiner

Table of Contents




stances)


9 Preparation of approval letter

a) Specialist prepares letter to ap-

plicant approving its registration

application

b) Specialist forwards the draft to

the Assistant Director (AD) for

further review

c) AD reviews and comments

d) AD returns draft to the Specialist

for revision, if any

e) Specialist finalizes the draft, ini-

tials and forwards the same to

the AD

f) AD reviews, initials and forwards

to Director for final review and

approval

g) Director reviews and signs

h) Director forwards signed letter

to the Support/Clerical Staff for

transmittal

30 minutes

1 hour

30 minutes

30 minutes

1 hour

Specialist/Examiner

Assistant Director

Specialist/Examiner

Assistant Director

Director

10 Specialist files the documents and

furnishes a copy to the monitoring

division of MSRD

within 5 minutes Specialist/Examiner

END OF TRANSACTION

Table of Contents


Application of Alternative Trading System and Central Trade Reporting System



For ATS Registration

A. Cover Sheet

B. ATS Registration Form (ATS Form 1) C. Statements and Exhibits required by ATS Form 1 D. Copy of the latest GIS



G. Requirements under Section II of the SEC Rules on alternative Trading System

For CTRS Registration

A. Cover Sheet

B. Application for Central Trade Reporting System C. Statements and Exhibits required by Section 17 of SEC Memorandum Circular No. 14 Series of 2006 D. Copy of the latest GIS


F. Manual on Corporate Governance How to avail of the service :



stances)





tion form and additional instructions

10 minutes Support Staff ATS Form 1 (for ATS)





Pre-process the accomplished form


a) If incomplete, complete the

documents first.

b) If documents complete, pre-

pare the Payment Assessment

Form and advises client to pay

the prescribed fee at the Cash-

ier.

30 minutes Specialist Accomplished SEC

Form

With supporting

documents

Payment Assess-

ment Form (PAF)

http://www.sec.gov.ph/wp-content/uploads/2015/07/ATS-Form-1.pdf

Table of Contents




stances)




scribed fee



10 minutes Cashier P50,500

(inclusive of 1%

Legal Research

Fee)

Official Receipt

and PAF




OR










deficiencies. OTHERWISE, go to

STEP 2.



Securities Counsel

Examiner

Specialist




al.


Securities Counsel

Examiner

Specialist


Memorandum.

3 days Assistant Director




1 day Director


plicant or; Transmits the Memoran-

dum to the Commission Secretary

for inclusion in the Agenda of the

Commission En Banc’s meeting.


Table of Contents




stances)



Commission En Banc. 1 day Director







cate or license.








nature.








cense for filing.


30 minutes

10 minutes

3 minutes

1 hour

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Support Staff

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Specialist

Support Staff




b) Conducts hearing

c) Makes decision.

Director

Commission En Banc

Commission En Banc

Table of Contents




stances)


13 If after hearing, registration is ap-proved, go to STEP 11.


nied,




review.


gives instruction.



AD, if any.










the applicant.




1 day

3 minutes

4 hours

30 minutes

3 minutes

30 minutes

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Specialist

Assistant Director

Specialist

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Specialist

Support Staff




Letter from MSRD


up and receive the


proved, or



END OF TRANSACTION

Table of Contents


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



A. Cover Sheet

B. SEC Form 39-BD (for Association of Securities Brokers and Dealers)/ SEC Form 33-SRO (OTC Market)

C. Statements and Exhibits required by SEC Form 39-BD and SEC Form 33-SRO

D. Copy of the latest GIS



G. Other requirements under Section 39.1.2 of the 2015 SRC Rules (for Association of Securities Brokers and Dealers)

H. Other requirements required by SEC Memorandum Circular No.14 series of 2006 (for OTC Market) How to avail of the service :



stances)





tion form and additional instructions 10 minutes Support Staff SEC Form 39-BD





Pre-process the accomplished form


a) If incomplete, complete the

documents first.

b) If documents complete, pre-

pare the Payment Assessment

Form and advises client to pay

the prescribed fee at the Cash-

ier.

30 minutes Specialist Accomplished SEC

Form With support-

ing documents

PAF



scribed fee

Processes payment and issues O.R. and validated PAF

10 minutes Cashier PhP50,500

(inclusive of 1%

Legal Research

Fee)

OR




OR





Table of Contents




stances)







deficiencies. OTHERWISE, go to

STEP 2.



Securities Counsel

Examiner

Specialist




al.


Securities Counsel

Examiner

Specialist


Memorandum. 3 days Assistant Director




1 day Director


plicant or;

Transmits the Memorandum to the

Commission Secretary for inclusion

in the Agenda of the Commission

En Banc’s meeting.



Commission En Banc. 1 day Director

Table of Contents




stances)








cate or license.








nature.








cense for filing.


30 minutes

10 minutes

3 minutes

1 hour

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Support Staff

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Specialist

Support Staff




b) Conducts hearing

c) Makes decision

Director

Commission

Commission

13 If after hearing, registration is ap-

proved, go to STEP 11.

Table of Contents




stances)



nied,




review.


gives instruction.



AD, if any.










the applicant.




1 day

3 minutes

4 hours

30 minutes

3 minutes

30 minutes

3 minutes

1 hour

10 minutes

5 minutes

10 minutes

Specialist

Specialist

Assistant Director

Specialist

Support Staff

Assistant Director

Support Staff

Director

Support Staff

Support Staff

Support Staff




Letter from MSRD


up and receive the


proved, or



END OF TRANSACTION

Table of Contents


Corporate Governance and Finance Department

1) Registers or grants exemption from registration securities of Mutual Fund Companies (MFCs) and Exchange-Traded Funds (ETFs); issuers of proprie-

tary and non-proprietary membership certificates/shares; timeshares; and commercial papers offered or sold by unlisted or unregistered issuers;

2) Licenses Investment Companies (ICs);

3) Accredits Corporate Governance Training Providers (CGTP);

4) Monitors Public Companies (PCs), Mutual Fund Companies (MFCs), Exchange-Traded Funds (ETFs), Financing Companies (FCs), Lending Compa-

nies (LCs), Issuers of Membership Certificates/Shares, Timeshares/Commercial Papers and Foundations’ compliance with existing laws and regula-

tions;

5) Monitors covered companies’ compliance with the Revised Code of Corporate Governance (RCCG) and other governance issuances of the

Commission;

6) Promotes good corporate practices and principles;

7) Updates the status of some pre-need corporations by virtue of the Commission’s residual power and resolves claims filed with the SEC before the

enactment of the Pre-Need Code;

8) Acts as Credit Information Corporation (CIC) helpdesk;

9) Participates in Congressional hearings on proposed bills affecting the SEC;

10) Participates in inter-agency and private sector meetings or consultations;



1) Application for License as a Mutual Fund Company

2) Application for Certificate of Permit to Sell Securities and Order of Registration for MFCs, ETFs and Proprietary/Non-Proprietary Shares, Membership

Certificates, Timeshares

3) Application for Accreditation as Corporate Governance Institutional Training Provider

4) Request for Approval of In-House Corporate Governance Trainings/Seminars

5) Request for Exemptive Relief/Confidential Treatment

6) Petition for Voluntary Revocation

7) Monitoring of Financing and Lending Companies

8) Monitoring of Foundations and Microfinance NGOs

9) Monitoring of MFCs, ETFs, PCs, Issuers of Registered Unlisted Securities, and Issuers of Proprietary and Non-Proprietary Shares, Membership Certifi-

cates and Timeshares

10) Monitoring Application for Amendment of Articles of Incorporation and/or By-Laws, Good Standing and Clearance PLCs, MFCs, ETFs, PCs, Issuers of

Proprietary and Non-proprietary Shares, Membership Certificates and Timeshares

11) Request for Comment on Articles of Incorporation and/or By-Laws

12) Monitoring Compliance with Corporate Governance Regulations of Publicly Listed Companies, MFCs, ETFs, PCs, and Issuers of Membership Certifi-

cates and Timeshares

13) Handling of Complaints Filed Against Covered Institutions

Table of Contents

Corporate Governance and Finance Department P a g e 123

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


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 :

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

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF

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-

sues Payment Assessment For

(PAF) and advises applicant

to pay prescribed fee to the

Cashier.

10 minutes Officer of the day

3 Pays the prescribed Filing Fee

to the Cashier and submits PAF

together with the required

documents and its attach-

ments to receiving clerk/

support staff.

P10,000.00 + LRF per draft

Consolidated Schedule of

Fees and Charges (SEC

Memorandum Circular No.

12, Series of 2016).

Payment Assess-

ment Form

4 Receives, encodes and deliv-

ers documents to Assistant



END OF TRANSACTION

http://www.sec.gov.ph/download/Forms/SECForm%2012-1.zip


Table of Contents


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


Who may avail of the service : Any corporation that intends to sell or offer for sale securities to the Public for Mutual Funds, Exchange Traded Funds and Issuers of Proprietary/Non-Proprietary, Membership Certificates, and Timeshares

What are the requirements : 1) Accomplished SEC Form 12-1, as amended (Registration Statement)

2) Exhibits to be submitted together with Registration Statement:

I. Initial Minimum Documentary Requirements

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

b) Draft Notice of Publication;

c) Articles of Incorporation and By-laws;

d) Opinion re: Legality of Issue (notarized);

e) Opinion re: Tax Matter;

f) Consents of Experts and Independent Counsel;

g) Notarized Curriculum Vitae and Recent Photographs of Officers and Members of the Board of Directors;

h) Bank Authorization which shall be continuous as long as the registration of securities of the issuer is effective;

i) Copy of Board Resolution approving the securities offering and authorizing the filing of the RS;

j) Duly verified Board Resolution dated and manually signed by a majority of the issuer’s Board of Directors;

approving the disclosures contained in the RS and assuming responsibility for the information contained

therein;

k) Secretary’s Certificate as to adoption by the company’s Board re: (1) Adoption of a Fit and Proper Rule for

the selection of corporate directors/officer; (2) Submission of an Undertaking allowing the SEC to resolve

conflicting issues regarding the selection of independent directors;

l) Sample of Subscription Agreement;

m) Manual on Corporate Governance; at least 2 Independent Directors; and

n) Anti-Money Laundering Manual


Table of Contents


II. Additional Requirements

a) Mutual Funds:

i) Management Contract/Agreement;

ii) Distribution Agreement;

iii) Custodian or Escrow Agreement;

iv) Advisory Agreement; and

v) Certification, under oath, by the President and Chairman of the Board, or their equivalent in rank, describing

the involvement, if any, by management or members of the Board of Directors in companies that the invest-

ment company will be dealing with.

b) Exchange Traded Funds:

i) Contract/Agreement with Fund Manager;

ii) Contract/Agreement with Authorized Participants;

iii) Contract/Agreement with Market Maker;

iv) Contract/Agreement with Index Provider;

v) Contract/Agreement with Custodian Bank;

vi) Contract/Agreement with Transfer Agent; and

vii) Certification under oath, by the President and Chairman of the Board, or their equivalent in rank, describing the

involvement, if any, by management or members of the Board of Directors in companies that the investment

company will be dealing with.

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

i) Escrow/Custodian Agreement with a reputable bank;

ii) Credit Line Agreement;

iii) House/Membership Rules and Compliance Certificate;

iv) Copy of Environmental Compliance Certificate;

v) Copy of Lease Contract (if property is under Lease);

vi) Certified true copy of Transfer Certificate of Title (TCT);

vii) Copy of brochures and other selling materials;

viii) Copy of Development Agreement; and

ix) Copy of Trust Agreement (if timeshares).

Table of Contents





stances)

PERSON IN

CHARGE

FEES FORM

1 Presents SEC Form 12-1 for

Pre-evaluation Officer of the

day 1) SEC Form 12-1, as

amended

(Registration

Statement)

2) Exhibits required

2 2.1 Reviews documents.

Accomplishes pre-

evaluation checklist

and provide copy to

the applicant based on

the documents pre-

sented.

If COMPLETE, go to Step

2.3.

If INCOMPLETE, go to Step

2.2

2.2 Returns document to

applicant for compli-

ance. END

2.3 Computes Filing Fee

and issues Payment Assess-

ment Form (PAF) and ad-

vises applicant to pay pre-

scribed fee to the Cashier. Go to Step 3

1 hour

5 minutes

10 minutes

Officer of the

day Pre-evaluation

Checklist




Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

3 Pays the prescribed Filing

fee to the Cashier and sub-

mits PAF together with the

required documents and

its attachments to receiv-

ing clerk/support staff.

Please see separate

schedule of fees*

Payment Assess-

ment Form


documents;

4.2 Delivers documents toAssistant


Go to Step 5.1


documents to assigned Securi-

ties Specialist and Legal Coun-

sel. Go Step 6.

4.4 Transmits letter to the

Registrant. Go to Step 7.


Commissioner/ Commission Sec-

retary for Agenda

4.6 Forwards records to ICTD for mi-

crofilming.

10 minutes

10 minutes

10 minutes

30 minutes

10 minutes

10 minutes

Support Staff


and Legal Counsel. Return doc-

uments to Support Specialist. Go

to Steps 6.1 to 6.6

10 minutes Assistant Direc-

tor

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

5 5.2 Reviews and initials the follow-

ing:

5.2.1 DRAFT letter/ memo/

advisement/ Order of Registra-

tion/ Permit to Sell/Notice

5.2.2 FINALletter/memo/ advise-

ment letter/ memo/advisement/

Order of Registration/ Permit to Sell/

Notice

1 day Assistant Direc-

tor

6 If Initial Filing:

6.1 Reviews documents

6.2 Refers the Underwriting/ Man-

agement/Distribution Agree-

ment to MSRD

6.3 Refers Financial Statements to

OGA. Repeats Step 8

6.4 Refers to OTHER

GOVERNMENT AGENCIES (if appli-

cable)

6.5 Conducts Ocular Inspection (if

applicable/allowed)

6.6 Prepares and initials DRAFT/FINAL 1st COMMENT LETTER

based on findings. Repeats Step 5.2

7 days

3 days

1 to 2 days

Securities Spe-

cialist/ Legal

Counsel

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

6 IF 1st Revision – Compliance with 2nd

COMMENT LETTER

6.7 Repeats Steps 6.1, 6.3, 6.4 and/

or conducts meeting with the

Registrant.

6.7.1 If compliant with all the

requirements, go to Step 6.8.1.

6.7.2 If still not compliant, pre-

pares and initials DRAFT/FINAL

2nd COMMENT LETTER. Repeats Step 5.2.

IF 2nd Revision – Compliance with

2nd COMMENT LETTER

6.8 Repeats Steps 6.1, 6.3, 6.4 and/

or conducts meeting with the

Registrant.

6.8.1 If AFS were cleared by

OGA, prepares and initials

DRAFT/FINAL MEMO. Repeat Step 5.2

6.8.2 If still not compliant or NO

COMPLIANCE, endorses to Legal

Counsel for Hearing.

6.9 Prepares DRAFT/FINAL NOTICE

OF HEARING. Repeats Step 5.2.

3 days

3 days

30 minutes

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

6 6.10 Legal Counsel holds meeting

for REJECTION of the applica-

tion.

6.11 Prepares DRAFT/FINAL REJEC-

TION LETTER. Repeat Step 5.2.

2 hours

1 hour

7 7.1 Files reply/compliance

with Comment Letter to

support staff

If reply to 1st Comment Let-ter or 2nd Comment Let-

ter. Repeats Steps 4.1

and 4.3.

7.2 If application is de-

ferred, submits compli-

ance requirements. Re-

peats Steps 4.1 and 4.3.

7.3 If rendered effective,

submits FINAL PROSPEC-TUS.

Repeats Steps 4.1, 4.3 and

Go to Step 11

7.4 Receives ORDER OF

REGISTRATION and PERMIT TO SELL/REJECTION. END

8 8.1 Reviews and evaluates AFS

8.2 Endorses findings to assigned

CGFD Specialist

Office of the

General Ac-

countant

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

9 9.1 For DRAFT COMMENT/MEMORANDUM/ REJECTION LET-

TER/ ORDER OF REGISTRATION/

PERMIT TO SELL/NOTICE

9.1.1. Reviews and initials docu-

ments

9.1.2. Returns document to Support

Staff. Go to Steps 4.3 and

6.7 or 6.8 or 6.9

9.2 For FINAL COMMENT/ ADVISE-MENT LETTER/NOTICE.

9.2.1. Reviews and signs docu-

ment. Repeats Step 4.4

9.3 If FINAL MEMO, reviews and

signs document. Returns docu-

ments to Support Staff. Go to Step 4.5.


Banc

9.5 Informs Specialist/Legal Counsel

of En Banc Decision. Go to Step 10.

9.6 For ORDER OF REGISTRATION

and PERMIT TO SELL

9.6.a Reviews and signs document.

Returns document to

Support Staff. Go to Steps 4.3 and 12.4

3 hours

10 minutes

3 hours

1 day

1 hour

10 minutes

Director

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM


action on the Memorandum:

If Registration Statement is DENIED/

DEFERRED

10.1 Prepare DRAFT/FINAL ADVISE-

MENT LETTER

Repeat Steps 5.2, 9.1, 9.2 and 4.4

If Registration Statement is REN-

DERED EFFECTIVE, go to Step 7.3

2 days Securities Spe-

cialist

11 11.1 Computes adjustment fee, if

necessary and inform registrant

of the additional fee. Go to

Steps 3 and 4.3.

11.2 If COMPLETE. Go to Step 12

11.3 If INCOMPLETE, notifies regis-

trant to comply with and submit the

requirements. Go to Step 7.3

30 minutes Securities Spe-

cialist

Table of Contents


*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:

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



stances)

PERSON IN

CHARGE

FEES FORM

12 Prepares CERTIFICATE OF PERMIT TO SELL and ORDER OF REGISTRATION

12.1 Prints draft/final copies of Cer-

tificate of Permit to Sell and Order

of Registration

12.2 Initials copy

12.3 Repeat Steps 5.2 and 9.6

12.4 Notifies issuer that the Permit

and Order are ready for release at

the CGFD. Go to Step 7.4

12.5 Forwards records to Support

Staff. Go to Step 4.6

10 minutes

5 minutes

10 minutes

Securities Spe-

cialist/ Legal

Counsel

END OF TRANSACTION

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

Not more than P500 Million 0.10% of the maximum aggregate price of the securities to be offered

More than P500 Million but not more than P750 Million P500,000 plus 0.075% of the excess over P500 Million

More than P750 Million but not more than P1 Billion P687,500 plus 0.05% of the excess over P750 Million

More than P1 Billion P812,500 plus 0.025% of the excess over P1 Billion

Table of Contents


Application for Accreditation as Corporate Governance Institutional Training Provider


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 :



stances)

PERSON IN

CHARGE

FEES FORM

1 Registers with the Guard Instructs Client where to proceed 5 Minutes Guard on Duty

2 Submits documents to Spe-

cialist-in-Charge Issues payment assessment Form 10 Minutes Support Staff P5,050.00 PAF

3 Pays corresponding fee at

the Cashier Receives payment and issues OR Varies Cashier PAF/OR

4 Receives the documents 5 Minutes Support Staff

5 Assigns the application 15 Minutes Assistant Direc-

tor

6 Reviews the documents re: com-

pleteness 3 days Specialist-in-

Charge

7a Drafts Memorandum and submits it

to the En Banc for approval 14 days -do-

7b Sends Comment Letter and Check-

list of Requirements for compliance 2 days -do-

8a Issues Certificate of Accreditation

after en banc approves applica-

tion

1 day -do-

8b Submits requirements to Receives requirements Varies Support Staff

9a Receives Certificate of Ac-

creditation as ITP Varies

END OF TRANSACTION

Table of Contents


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



stances)

PERSON IN

CHARGE

FEES FORM

9b Reviews submitted requirements 2 days Specialist-in-

Charge

10 Drafts Memorandum and submits it

to the En Banc for approval 14 days Specialist-in-

Charge

11 Issues Certificate of Accreditation

after En Banc approves application 1 day -do-

12 Receives Certificate of Ac-

creditation as ITP Varies

END OF TRANSACTION

Table of Contents


Request for Approval of In-House Corporate Governance Training Provider


Who may avail of the service : All Private and Public Institutional Training Provider (ITP) What are the requirements :




stances)

PERSON IN

CHARGE

FEES FORM



cialist-in-Charge Issues payment assessment Form 10 Minutes Support Staff P2,020.00 PAF

3 Pays corresponding fee at

the Cashier

Variable Cashier PAF/OR

4a Receives the documents 5 Minutes Support Staff

5 Assigns the application 15 Minutes Assistant Direc-

tor

6 Reviews the documents re: com-

pleteness 2 days Specialist-in-

Charge

7a Drafts Memorandum and submits it

to the En Banc for approval 7 days Specialist-in-

Charge

7b Sends Comment Letter and Check-

list of Requirements for compliance 2 days Specialist-in-

Charge

8a Issues Advisement Letter Approving

In-House Corporate Governance

Training/Seminar after en banc ap-

proves application

1 day Specialist-in-

Charge

9a Receives Advisement Let-

ter Approving In-House


Training/Seminar

Variable

END OF TRANSACTION

Table of Contents


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



stances)

PERSON IN

CHARGE

FEES FORM

8b Submits requirements to

Specialist-in-Charge Receives requirements Variable Support Staff

9b Reviews submitted requirements 2 days Specialist-in-

Charge

10 Drafts Memorandum and submits it

to the En Banc for approval

14 days Specialist-in-

Charge

11 Issues Advisement Letter Approving

In-House Corporate Governance

Training/Seminar after en banc ap-

proves application

1 day Specialist-in-

Charge

12 Receives Advisement Let-

ter Approving In-House


Training/Seminar

Variable

END OF TRANSACTION

Table of Contents


Request for Exemptive Relief/Confidential Treatment


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 :



stances)

PERSON IN

CHARGE

FEES FORM

1 Registers with the Guard.

Gets Number and Request

Slip.

Gives the Client a Number and Re-

quest Slip. 5 minutes Guard on Duty Request Slip

2 Accomplishes Request Slip

and submits it to Officer-of

the-Day

Receives Request Slip and forwards

it to Legal Counsel 5 minutes Officer-of-the-

Day

3 a) Verify number of companies

and issues of the request

b) Issues Payment Assessment

Form (PAF)

30 minutes Legal Counsel P50,000.00 per issue

and per company* PAF



ment

Receives payment and issues OR Varies Cashier Amount Imposed


and documents to Officer-

of-the-Day

Receives the validated PAF and


Staff

10 minutes Officer of the

Day


documents;



to Step 7.1


documents to assigned Legal

Counsel. Go Step 8.

10 minutes

5 minutes

10 minutes

Support Staff

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

6 6.4 Transmits letter to the Regis-

trant. Go to Step 7.


Commissioner/ Commission

Secretary for En Banc presen-

tation. Go to Step 9.4


microfilming.

30 minutes

10 minutes

15 minutes

-do-


Counsel. Forwards documents

to Support Staff. Go to Steps 6.3

7.2 Reviews and initials the follow-

ing:


advisement. Go to Step 9.1 and 6.3

7.2.2 FINAL letter/memo/ ad-

visement letter. Go to Step 9.3

10 minutes

1 day

1 day

Assistant Direc-

tor


8.1.a If the request is novel,

Prepare and initial

DRAFT/FINAL letter di-

recting to provide addi-

tional information from

the company. Go to Steps 7.2, 9.1/9.2, 6.4

and 6.6

30 minutes

1 hour

Legal Counsel

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

8 8.1.b. If the request is not nov-

el or the department

has received the addi-

tional information from

the applicant pursuant

to Step 8.1.a hereof,

prepare Memorandum

to the Commission en

Banc. Go to Steps 7.2, 9, and 10

8.2 Prepares and initials DRAFT/

FINAL letter of advisement. Re-

peats Steps 7.2, 9.1/9.2, 6.4 and 6.6

5 days -do-


MEMORANDUM

9.1.a. Reviews and Initial

document

9.1.b. Returns document to

Specialist. Go to Step 6.3


MEMORANDUM

9.2.a. Reviews and signs doc-

ument. Go to Step 6.3


document. Go to Step 6.5.


Banc


Banc Decision. Go to Step 12.

3 hours

3 hours

1 day

10 minutes

Director

Table of Contents


*SEC Memorandum Circular No. 12, Series of 2016



stances)

PERSON IN

CHARGE

FEES FORM



If DENIED/DEFERRED


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

10.2 If RENDERED EFFECTIVE. Go to Steps 8.3, 7.2, 9.6, 6.4 and 6.6

30 minutes

Legal Counsel

11 Receives Letter of Advise-

ment

END OF TRANSACTION

Table of Contents


Petition for Voluntary Revocation


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 :



stances)

PERSON IN

CHARGE

FEES FORM



Slip.


quest Slip. 5 minutes Guard on Duty N/A Request Slip



the-Day


it to Legal Counsel 5 minutes Officer-of-the-

Day

3 Issues Payment Assessment Form

(PAF) 10 minutes Legal Counsel P10,000 + LRF of 1% of

Filing Fee*



ment

Receives payment and issues OR Varies Cashier Amount Imposed PAF/OR


and documents to Officer-

of-the-Day



Staff


Day


documents;



to Step 7.1


documents to assigned Legal

Counsel. Go Step 8.

10 minutes

5 minutes

10 minutes

Support Staff

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

6 6.4 Transmits letter to the Regis-

trant. Go to Step 7.


Commissioner/ Commission

Secretary for En Banc presen-

tation. Go to Step 9.4


microfilming.

30 minutes

10 minutes

15 minutes

-do-


Counsel. Forwards documents

to Support Staff. Go to Step 6.3

7.2 Reviews and initials the follow-

ing:


advisement/ Order of

Registration/ Permit to

Sell/Notice. Go to Step 9.1 and 6.3

7.2.2 FINAL letter/memo/ ad-

visement letter/ memo/

advisement/ Order of

Registration/ Permit to

Sell/Notice. Go to Step 9.3

10 minutes

1 day

1 day

Assistant Direc-

tor

8 8.1 Reviews documents, prepares

and initials DRAFT/FINAL Notice

of Publication. Go to Steps 7.2, 9.1/9.2 and 6.3

8.2 Prepares and initials DRAFT/

FINAL MEMO. Repeat Step 7.2

1 day Legal Counsel

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM


MEMORANDUM/ORDER

9.1.a. Reviews and Initial doc-

ument

9.1.b. Returns document to

Specialist. Go to Step 6.6 or 6.9


MEMORANDUM/ORDER

9.2.a. Reviews and signs docu-

ment. Go to Step 6.3


document. Go to Step 6.5.


Banc


Banc Decision. Go to Step 12.

9.6 For ORDER OF REVOCATION

9.6.a Reviews and signs docu-

ment. Go to Step 6.3

3 hours

3 hours

1 day

10 minutes

Director

10 Receives Notice of Publi-

cation and publishes in

newspaper of general cir-

culation

11 Submits Affidavit of Notice

of Publication Receives affidavit and wait for

complaints, if any. Go to Step 8.2

15 business days Legal Counsel

Table of Contents


*SEC Memorandum Circular No. 12, Series of 2016



stances)

PERSON IN

CHARGE

FEES FORM



If DENIED/DEFERRED


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

12.2 If GRANTED. Go to Step 13

30 minutes Legal Counsel

13 Prepares ORDER OF REVOCATION

13.1 Prints draft/final copies of Or-

der of Revocation

13.2 Initial Copy

13.3 Repeats Steps 7.2 and Go to Step 9.6

13.4 Notifies issuer that the Permit

and Order are ready for release at

the CGFD. Go to Step 14 and 6.6

Legal Counsel

14 Receives ORDER of Revo-

cation

END OF TRANSACTION

Table of Contents


Monitoring of Financing/Lending Companies/Foundations/Microfinance NGOs


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



stances)

PERSON IN

CHARGE

FEES FORM

1 Registers with the Guard

and gets Request Slip

Gives the Client a Request Slip 30 seconds Guard on Duty

(CGFD)

Request Slip


to Officer of the day

Records Request and Forwards to

assigned Staff

45 seconds OD Request Slip

* (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 registration 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.

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

3 Waits for the Result of the

Request:

For Clearance

Evaluates Request

5 minutes* Processor** Amount imposed (for

financing and lend-

ing companies only)

Request Slip

3.A. Check compliance of the cor-

poration

3.A.1. If compliant without

fines, wait for up-

dating of CIS/URDB

or signed MS/COP/

NP.

3.A.1.a) Prepares/Updates

Monitoring Sheet (MS)

3.A.1.b) Review MS

3.A.1.c) Signs MS/No Penalty

(NP)

3.A.1.d) Updates CIS/URDB.

Issues signed MS/NP,

upon request. END OF TRANSACTION

15 minutes*

10 minutes*

5 minutes*

2 minutes*

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

Monitoring Sheet

3.A.2. If compliant with

fines, wait for up-

dating of CIS/URDB

or issuance of

signed MS/COP/

OPP.

3.A.2.a) Prepares/Updates Mo-

nitoring Sheet (MS)

3.A.2.b) Review MS

3.A.2.c) Go to Steps 4 to 6.

3.A.2.d) Signs MS/Confirmation

of Payment( COP)

3.A.2.e) Updates CIS/URDB. Is-

sues signed MS/COP,

upon request.

3.A.2.f) Prepares Order on Pay-

ment of Penalty (OPP)

3.A.2.g) Signs OPP. END OF TRANSACTION

Waiting period Accountant

3.A.3. If not compliant,

wait for issuance of

MS with Notice of

Deficiency.

If not compliant, provide client with

MS with Notice of Deficiency. For

compliance within 15 days

within 15 days. Monitoring Sheet

Notice of Deficien-

cy

Upon compliance, go to Steps 3.A. Waiting period

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

4 Generates and Issues Payment As-

sessment Form (PAF) of fees and

assessed penalties and advises the

client to pay at the Cashier

2 minutes Accountant

Examiner

Specialist

Assessment/ Pay-

ment Assessment

Form

Reprimand Letter

5 Pays at the Cashier Receives payment and issues OR

Varies OR OR

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

* (1) Volume of walk-in client without complaint but with application for clearance for amendment of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3) Vol-

ume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and view-

ing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION

Table of Contents


2) Motu Propio Monitoring



stances)

PERSON IN

CHARGE

FEES FORM

1 Monitors deadline on the submis-

sion of reportorial and other compli-

ance requirements thru SEC i-View/i

-Report.

Minimum of 30 minutes

with maximum time

depending on the fol-

lowing constraints/ var-

iables.*

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

Monitoring Sheet

2 Determines company’s compli-

ance with the SEC reportorial and

other compliance requirements

thru SEC i-View/i-Report and rec-

ords of the Department.

If Compliant: Go to Step 3. If not Compliant: Go to Step 4 to

20.

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

3 Evaluates/reviews compliance of

the reports with the disclosure and

other requirements under the Rules,

Regulations and Circulars of the

Commission.

If Compliant: Update CIS/URBD.

Issue signed Monitoring Sheet

(MS)/No Penalty (NOP). END

If not Compliant: Go to Step 4 to

20.

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

4 Prepares and transmits show cause

letter (SCL).

Note: SCL includes directive to the

company to submit specific reports

that it failed to file and/or clarify/

amend reports submitted earlier

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Show Cause Letter

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

5 Monitors reply of the company on

SCL.

If With Reply: Go to Step 6.

If Without Reply: Go to Step 8 to 20.

Notes:

Compliance with the SCL is within

15-days from the date of receipt by

the company of said letter subject

to extension upon submission of

meritorious request.

Processor** Letter Reply

6 Evaluates/validates reasons or justi-

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.

Processor**

7 Prepares and transmits Advise-

ment/Acknowledgment Letter

(AdL) to inform the company that

its justifications are meritorious. Up-

dates Records and File. END

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Advisement/ Ac-

knowledgment Let-

ter

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

8 Prepares and transmits Notice of

Deficiency (NOD) to all directors.

Note: Compliance with the NOD is

within 15-days from the date of re-

ceipt by the company of said letter

subject to extension upon submis-

sion of meritorious request.

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Notice of Deficien-

cy


NOD.

If With Reply: Go to Step 6 to 7.

If Without Reply: Go to Step 10

to 20.

Processor**

10 Prepares and transmits Reprimand/

Assessment Letter (RAL). Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Reprimand Assess-

ment Letter

11 Monitors payment of assessed pen-

alty.

If with payment: Go to Step 12

If without payment: Go to Step 14 to 20.

Notes:

If with request for reduction, deter-

mines if the company meets the

criteria for reduction of penalties

prescribed under Office Order ap-

proved by the Commission. Pre-

pares memo to the Commission En

Banc (CEB) recommending ap-

proval or denial of request for re-

duction of penalties. Informs the

company of the resolution of its re-

quest by the CEB thru AdL.

Processor** Order of Payment

** Accountant, Examiner, Specialist, or Support Clerk

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

12 Prepares and issues Payment Assess-

ment Form (PAF), and instructs the

company’s representative to pay at

the Cashier.

Processor** Assessed Fees/Penalties Payment of Assess-

ment Form

13 Secures validated/paid PAF and Offi-

cial Receipt (OR) from company’s rep-

resentative and signs MS/COP.

Updates CIS/URDB. Issue signed MS/

COP, upon request.

Prepares and transmits Order on Pay-

ment of Penalty (OPP). END

Processor**

Chief Counsel/

Assistant Director/

Director

Order on Payment of

Penalty (OPP)

14 Prepares and transmits Notice of Defi-

ciency (ND) to responsible officers.

If with Reply: Go to Step 12.

If without Reply: Go to Step 10.

Processor**

Chief Counsel/

Assistant Director/

Director

Notice of Deficiency

15 Prepares and transmits Notice of Hear-

ing (NH), if warranted. Legal Officer/

Support Staff/ As-

sistant Director/

Director

16 Conducts hearing.

If Compliant: Go to Step 12.

If not Compliant: Go to Step 16.

Notes:

The hearing usually results in the

company undertaking to comply

with the requirements and/or to

pay the penalty.

If compliant with undertaking, do

Steps 12 to 13.

If not compliant with undertaking,

do Steps 16 to 20.

Legal Officer


Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

17 Conducts ocular inspection to de-

termine if the company is operating Processor**

18 Prepares audit report on the status

of company’s operation. Processor**

19 Prepares memo to CEB recom-

mending suspension or revocation

of the company’s secondary li-

cense.

Legal Officer/

Support Staff/

Assistant Direc-

tor/ Director

20 Prepares and transmits Order of Sus-

pension/ Revocation (OSR) of sec-

ondary license.

Legal Officer/

Support Staff/

Assistant Direc-

tor/ Director

Order of Suspension

21 Prepares and endorses memo to

Enforcement and Investor Protec-

tion Department (EIPD) for further

investigation.

Processor**

Assistant Direc-

tor/ Director

22 Updates Records and File. END Processor**

* (1) Volume of walk-in client without complaint but with application for clearance for amendment nt of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3)

Volume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and

viewing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION


Table of Contents


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



stances)

PERSON IN

CHARGE

FEES FORM

1 Receives memorandum with re-

quest for monitoring/referral from

other departments/division.

Minimum of 30 minutes

with maximum time

depending on the fol-

lowing constraints/ var-

iables.*

Security Guard/

Processor**

Request Slip

2 Determines company’s compli-

ance with the SEC reportorial and

other compliance requirements

thru SEC i-View/i-Report and rec-

ords of the Department.


If not Compliant: Go to Step 5 to 24

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

Monitoring Sheet

3 Evaluates/reviews compliance of

the reports with the disclosures and

other requirements under the Rules,

Regulations and Circulars of the

Commission.

If Compliant: Go to Step 4

If not Compliant: Go to Step 5 to

24.

Processor**

Review/

Supervising Spe-

cialist, Assistant

Director, Direc-

tor

4 Prepares reply memorandum. Up-

dates Records and File. END Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Reply Memoran-

dum

5 Prepares and transmits show cause

letter (SCL).

Note: SCL includes directive to the

company to submit specific reports

that it failed to file and/or clarify/

amend reports submitted earlier

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Show Cause Letter

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM


SCL.

If With Reply: Go to Step 7.


to 20.

Notes:

Compliance with the SCL is within

15-days from the date of receipt by

the company of said letter subject

to extension upon submission of

meritorious request.

Processor** Letter Reply

7 Evaluates/validates reasons or justi-

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

Processor**

8 Prepares and transmits Advise-

ment/Acknowledgment Letter

(AdL) to inform the company that

its justifications are meritorious.

Processor**

Assistant Direc-

tor

Advisement/ Ac-

knowledgment

Letter


dates Records and File. END. Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Reply Memoran-

dum

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM


Deficiency (NOD) to all directors.

Note: Compliance with the NOD is

within 15-days from the date of re-

ceipt by the company of said letter

subject to extension upon submis-

sion of meritorious request.

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Notice of Deficien-

cy


NOD.

If With Reply: Go to Step 7 to 9.


to 24.

Processor** Reply on NOD

12 Prepares and transmits Reprimand/

Assessment Letter (RAL). Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Reprimand/ Assess-

ment Letter

13 Monitors payment of assessed pen-

alty.

If with payment: Go to Step 14

If without payment: Go to Step 18 to 20.

Notes:

If with request for reduction, deter-

mine if the company meets the cri-

teria for reduction of penalties pre-

scribed under Officer Order ap-

proved by the Commission. Prepare

memo to the Commission En Banc

(CEB) recommending approval or

denial of request for reduction of

penalties. Inform the company of

the resolution of its request by the

CEB thru AdL.

Processor**

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

14 Prepares and issues Payment As-

sessment Form (PAF), and instructs

the company’s representative to

pay at the Cashier

Processor** Assessed Fees/

Penalties

Payment Assess-

ment Form

15 Secures validated/paid PAF and

Official Receipt (OR) from compa-

ny’s representative and signs MS/

COP.

Updates CIS/URDB. Issue signed MS/

COP, upon request.

Prepares and transmits Order on

Payment of Penalty (OPP). END

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Order of Payment

of Penalty (OPP)


dates CIS/URDB. Issue signed MS/

COP, upon request. END

Processor**

Chief Counsel/

Assistant Direc-

tor/ Director

Reply Memoran-

dum


Hearing (NH), if warranted. Legal Officer/

Support Staff/

Assistant Direc-

tor/ Director

Notice of Hearing

18 Conducts hearing.


If not Compliant: Go to Step 19.

Notes:

The hearing usually results in the

company undertaking to comply

with the requirements and/or to

pay the penalty.

If compliant with undertaking, do Steps 14 to 16.

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

Legal Officer

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

19 Conducts ocular inspection to de- Processor**

20 Prepares audit report on the status Processor**

21 Prepares memo to CEB recom-

mending suspension or revocation

of the company’s secondary li-

cense.

Legal Officer/

Support Staff/

Assistant Direc-

tor/ Director

22 Prepares and transmits Order of Sus-

pension/ Revocation (OSR) of sec-

ondary license.

Legal Officer/

Support Staff/

Assistant Direc-

tor/ Director

Order of Suspen-

sion/Revocation

(OSR)

23 Prepares and endorses memo to

Enforcement and Investor Protec-

tion Department (EIPD) for further

investigation secondary license.

Legal Officer/

Accountant/

Examiner

Specialist/ Sup-

port Staff/ Assis-

tant Director/

Director

24 Updates Records and file. END Processor**

* (1) Volume of walk-in client without complaint but with application for clearance for amendment nt of Articles of Incorporation/ By-Laws, and Certificate of Good Standing; (2) Volume of Walk-in Client with complaint; (3)

Volume of inquiries of client; (4) Number of the reports being monitored for review and evaluation and date of registration of the company; (5) Volume of documents to be printed;(6)Printer buffering system; (7) Retrieval and

viewing of reports thru SEC i-View; and/or retrieval of documents from the Records Division; (8) System interruption; and (9) Frequency of monitoring.

END OF TRANSACTION

Table of Contents


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


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



stances)




Slip.





the-Day


it to Specialist in-Charge 5 minutes Officer-of-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.


Table of Contents




stances)


4 Reviews and initials draft/ final rout-

ing slip/ endorsement memoran-

dum

15 minutes Assistant Director/

Director N/A

5 a) If compliant and not subject to

penalty: Issues clearance. END OF TRANSACTION.

b) If compliant and subject to

penalty: Issues Payment Assess-

ment Form (PAF), in cases

where the client has been pre-

viously monitored and has been

assessed penalty/ies.

15 minutes Specialist-in-Charge

6 Receives the clearance



ment

Receives payment and issues OR Varies Cashier Amount im-

posed

PAF/OR


and official receipt to Spe-

cialist-in-charge


draft/final routing slip/endorsement

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

15 minutes Specialist-in-Charge

9 Reviews and initials draft/ final rout-

ing slip/ endorsement memoran-

dum

15 minutes Assistant Director/

Director

10 Receives the clearance

END OF TRANSACTION

Table of Contents


PAYMENT OF FEES/ASSESSED PENALTIES



stances)

PERSON IN

CHARGE

FEES FORM



Slip.




and submits documents to

Officer-of the-Day


documents to Specialist in-Charge 5 minutes Officer-of-the-

Day

Information State-

ment

(SEC Form 20-IS)

3 Evaluates documents 15 minutes Specialist-in-

Charge


(PAF) 10 minutes Specialist-in-

Charge

Payment of fees:

Information State-

ment and/or Solicita-

tion of Votes by the

Registrant: P7,500 plus 1% Legal Research

Fee (All subsequent or

amended Infor-

mation Statement

shall be subject to a

fee of P5,000 plus 1%

Legal Research Fee)

Solicitation of Votes

Other than by the

Registrant: P5,000 plus 1% Legal

Research Fee*

Payment of assessed

fees: Variable

(Depends on the vio-

lations committed)

PAF


Table of Contents


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.



stances)

PERSON IN

CHARGE

FEES FORM



ment




cialist-in-charge


instructs the Client that the Order


cipal office address via mail

10 minutes Specialist-in-

Charge

END OF TRANSACTION

Table of Contents


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*


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 :


REQUEST FOR CLEARANCE



stances)

PERSON IN

CHARGE

FEES FORM



Slip

Gives the Client Number and re-

quest slip

5 minutes Guard-on-duty n/a Request Slip


and submits it to the Of-

ficer-of-the-day


it to Specialist in-Charge

5 minutes Officer-of-Day

3 Checks the CIS and moni-toring index and SEC

i-Report to determine the

company’s status and in-

form the client of the defi-

ciency/ies.

Advises the client, through

the Officer-of-the-day, to

first comply with the re-

quirements whether to sub-

mit a report/s or pay the

assessed penalty before it

could give or issue clear-

ance.

30 minutes to 1 hour Specialist

*1. All applications for monitoring/clearance and good standing will be lodge at the Company Monitoring Division (CMD) of CRMD except those applications to change the name, and purpose of the corporation. CMD will access the Certification Issuance System

(CIS) to determine the status of a corporation.

2. If the application is to change the name, and purpose of the corporation and/or the CMD found any deficiencies in the CIS, the company representative will go to CGFD;

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

4 Submits reports and/or pays any

assessed penalties

Notes:

1. Reports should be

filed at the SEC’s

Central Receiving;

2. Please follow the

processes in the

payment of fees

and penalties

5 Checks the company’s

submission through the

SEC i-report and evalu-

ates contents thereof.

(The specialist may

asks an advance copy

if the same is still not

viewable online)

If the company pays

the penalty, issues Pay-

ment Assessment Form

Updates the CIS by

removing corporation

from the “deficient” to

“cleared” status and

advise the client to

proceed to CMD. End of Transaction.

30 minutes

10 minutes

5 minutes

Specialist

END OF TRANSACTION

Table of Contents


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


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 :




stances)

PERSON IN

CHARGE

FEES FORM



Slip

Gives the Client Number and re-

quest slip

5 minutes Guard-on-duty n/a Request Slip


and submits it to the Of-

ficer-of-the-day


it to Specialist in-Charge


3 Receives Request Slip and the pro-

posed Articles of Incorporation and

By-Laws with endorsement from the

CRMD and forwards it to Assistant

Director for assignment


4 Assigns to a Securities specialist or

Securities Counsel

5 minutes Assistant Direc-

tor

5 Reviews copies of proposed Articles

of Incorporation and/or By-Laws

and prepares draft/ final endorse-

ment/Memorandum to CRMD.

1 hour Securities Spe-

cialist/ Securities

Counsel

6 Reviews and initials the draft/final

endorsement

1 hour Assistant Direc-

tor and Director

7 Receives the endorsement Gives a copy of the endorsement

and returns the proposed Articles of

Incorporation and/or By-Laws. Ad-

vise the client to go back to CRMD.

10 minutes Officer-of –the

Day

*If the company will incorporate as Mutual Fund Company

Table of Contents


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

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


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 :


REQUEST FOR CLEARANCE



stances)

PERSON IN

CHARGE

FEES FORM



cialist-in-Charge Receives the documents 5 Minutes Specialist-in-

Charge

3 Reviews the documents submitted 30 Minutes -do-

4a Issues clearance 5 Minutes -do-

4b Issues Payment Assessment Form

(PAF), in cases where the client has

been previously monitored and has

been assessed penalty/ies.

10 Minutes -do-

5a Receives the clearance

END OF TRANSACTION

5b Receives the PAF and pro-


ment

Receives payment and issues OR Varies Cashier Amount Imposed PAF /OR


and official receipt Spe-

cialist-in-charge


issues clearance 10 Minutes Specialist-in-

Charge

END OF TRANSACTION

Table of Contents


PAYMENT OF PENALTIES

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)



stances)

PERSON IN

CHARGE

FEES FORM



cialist-in-Charge Receives the documents 5 Minutes Specialist-in-

Charge

3 Reviews the documents submitted 30 Minutes -do-


(PAF) 10 Minutes -do- PAF



ment




cialist-in-charge


instructs the Client that the Order


cipal officer address via mail

10 Minutes Specialist-in-

Charge

7 Receives Order on Pay-

ment of Penalty Prepares Order on Payment of Pen-

alty 30 minutes -do-

8 Sends signed Order on Payment of

Penalty via registered mail Varies Support Staff

END OF TRANSACTION

Table of Contents


Handling of Complaints Filed Against Covered Institutions


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 :



stances)

PERSON IN

CHARGE

FEES FORM

1 Registers with the Guard

and get Request Slip

Gives the Client a Request Slip 5 minutes Guard on Duty Request Slip


and submits to Support

Staff

Records request and forwards to

assigned Staff

5 minutes* Clerk Request Slip

3 With Complaint letter

a) Submits together with


and

b) Get s receiving copy of

Complaint Letter/Form

Without complaint letter

a) Gets Complaint Form

b) Accomplishes Com-

plaint Form

c) Submits together with

supporting documents,

and

d) Gets received copy of

Complaint Letter/Form

With Complaint Letter

a) Receives and photocopies sup-


b) Gives complainant’s copy and

advise complainant to wait for

company’s reply

Without complaint letter

a) Gives Complaint Form

b) Waits for accomplished com-

plaint form. Assist complainant,

if needed

c) Receives complaint form and

photocopy supporting docu-

ments, and

d) Gives complainant’s copy and

advises complainant to wait for

company’s reply

5 minutes

10 minutes

Processor** Complaint Letter

with relevant/ sup-

porting documents

Complaint Form

with relevant/

supporting docu-

ments


Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

4 Waits for Answer/ Com-

ment from the company or

the Commission

Evaluates complaint if within the

jurisdiction of the department

Within the CGFD’s jurisdiction

a) Prepares and issues advisement

letter to the company to answer

complaint

b) Monitors answer of the compa-

ny

With answer, waits for reply/

comment of complainant to

the answer of the company

then proceed to step c

Without answer, resolve the com-

plaint or proceeds to step 5

c) Monitors reply of complainant

With reply, resolves the complaint

or proceeds to step 5

Without reply, resolves the com-

plaint or proceed to step 5.

Outside CGFD’s jurisdiction

a) Indorses to the proper depart-

ment of the Commission or oth-

er government office/agency

that has jurisdiction over the

complaint and/or advises com-

plainant of lack of jurisdiction of

SEC. END OF TRANSACTION

15 minutes*

Within 5 days* `

Accountant II

Examiner II

Examiner I

Specialist II

Specialist I

Records Spe-

cialist

Clerk

Monitoring Ana-

lyst

Examiner II

Specialist II

Director

Assistant Direc-

tor

Division Head

Complaint Letter/

Form

Advisement Letter

Table of Contents


*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



stances)

PERSON IN

CHARGE

FEES FORM

5 Attends Scheduled Hear-

ing a) Prepares and Issues Notice of

Hearing

b) Conducts Hearing/Mediation

c) Prepares Minutes, resolution of

complaint to be included in the

minutes or proceed to step d

d) Issues a written resolution of the

case.

15 minutes*

30 minutes*

10 minutes*

30 days*

Processor**

Chief Counsel,

Counsel III

Asst. Director,

Director

END OF TRANSACTION

Table of Contents


Company Registration and Monitoring Department

1) Registers domestic corporations and partnerships;

2) Processes applications for amendment of articles of incorporation/articles of partnership, by-laws, mergers, and other corporate reorgani-

zations that require the prior approval of the Commission;

3) Licenses foreign corporations doing business in the Philippines and multinational companies;

4) Licenses lending, financial companies, and capital market participants;

5) Monitors compliance by registered domestic/licensed foreign corporations with their reportorial responsibilities under the Corporation Code

and other existing laws;

6) Maintains custody over registration documents and documents that it has acted upon or directly filed with it;

7) Verifies and reserves proposed company names and issues certification on corporate filings and information;

8) Revokes certificates of incorporation/license to do business for non-compliance with reportorial requirements and other pertinent laws im-

plemented by the Commission;

9) Attends court hearings and processes as witness and as resource person in inter-agency meetings and provides corporate records to other

government agencies;

10) Hears/decides administrative cases within the Department jurisdiction;

11) Acts on Petition for Change of Corporate Name;

12) Undertakes special studies on corporate problems relating to registration and monitoring of corporations submitted to the Commission by

the public and government agencies and instrumentalities and develops, recommends policies on registration and monitoring of corpora-

tions and licensed foreign corporations;

13) Attends to public queries; and


Table of Contents

Company Registration and Monitoring Department P a g e 172


PUBLIC ASSISTANCE CENTER (Under the Office of the Director)

1) Walk-in Query, Complaint, etc.

SATELLITE OFFICE:

1) Name Verification Services

2) Processing of Applications for Primary Registration of Stock and Non-Stock Corporations

3) Processing of Applications for Partnerships

4) Processing of Applications for Amendment of Stock and Non-Stock Domestic Corporations

5) Processing of Applications for Amendment of Partnerships

6) Processing of Applications for Increase/Decrease of Authorized Capital Stock, Reclassification/Conversion/Change of Par Value of Shares

7) Processing of Conversion of Branch Office to Representative Office (Vice Versa), Regional Area Headquarters (RHQ) to Regional Operating

Headquarters (ROHQ) (Vice Versa), Change/Substitution of Resident Agent, Withdrawal of License and Other Amendments of Foreign Cor-

porations

8) Processing of Applications of Foreign Corporations GREENLANE UNIT:

1) Registration of Stock and Non-Stock, Non-Profit Corporations and Partnerships CORPORATE AND PARTNERSHIP REGISTRATION DIVISION (CPRD):

1) Application for Amendment of Stock and Non-Stock Domestic Corporations

2) Application for Amendment of Partnerships

3) Conversion of Branch Office to Representative Office (Vice Versa), Regional Area Headquarters (RHQ) to Regional Operating Headquar-

ters (ROHQ) (Vice Versa), Change/Substitution of Resident Agent, Withdrawal of License and Other Amendments of Foreign Corporations

4) Applications of Foreign Corporations

5) Processing Services for Voting Trust Agreements

6) Actions (Two [2] Party Complaints/Petitions)

7) Petitions for Correction

Table of Contents



LICENSING UNIT:

1) Application for Licensing of Financing Companies

2) Application for Licensing of Lending Companies

3) Application for Registration of Capital Market Institutions

4) Application for Registration of Capital Market Professionals

COMPLIANCE MONITORING DIVISION (CMD):

1) Request for Regular Monitoring of: Domestic Corporations (Ordinary Stock and Non-stock)

Foreign Corporations (Branch Offices, Representative Offices, Regional Area Headquarters and Regional Operating Headquarters)

2) Process Compliance with Securities Deposit

3) Petition to Lift Order of Revocation/Suspension

4) Request for Payment in Installment or Reduction of Fines

5) Monitoring of Corporations where there is more than one set of General Information Sheet (GIS) filed with the Commission

6) Compliance with SEC Memorandum Circular No. 14, series of 2013 (Guidelines Covering the Use of Properties that Require Ownership Regis-

tration as Paid-Up Capital)

7) Petition for Cancellation or Substitution of Payment in relation to the use of properties that require Ownership Registration as Paid-Up Capi-

tal (SEC Memorandum Circular No. 14, series of 2013)

CORPORATE FILING AND RECORDS DIVISION (CFRD)

1) Name Verification Services

2) Issuance of Certificates of No Derogatory Records/Affirmative/Negative

3) Registration of Stock and Transfer/Membership Book

4) Receiving of Applications for New Registration (Domestic/Foreign)/Articles of Partnership

5) Receiving of Applications for Amendment of Articles of Incorporation/By-Laws/Articles of Partnership/Articles of Merger and Consolidation

6) Releasing of Approved Primary Registration/Amendments/Articles of Merger and Consolidation

7) Data Entry of Applications for Amendment/Articles of Merger and Consolidation and Retrieval of Records

8) Issuance of Authenticated Copies for Government Agencies

FINANCIAL ANALYSIS AND AUDIT DIVISION (FAAD):

1) Amendment of Article VII of Articles of Incorporation and Other Applications (Confirmation of Valuation or Exempt Transaction [Other Than

Cash Payment on Subscription], Property Dividend Declaration, Quasi-Reorganization, Equity Restructuring, Creation of Additional Paid-in

Capital, and Dissolution of Domestic Corporation)

2) Merger/Consolidation

3) Cash or Stock Dividend Declaration

4) Certification of Capital Structure/Percentage of Ownership

Table of Contents


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

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




1 Proceeds to the Public As-

sistance Office

Calls client on a first come,

first served basis SEC Complaints Spe-

cialist None

2 a) Presents concern/s,

query or complaint; or

a) Renders advice depend-

ing on the kind of concern

or query; or

Variable, depending on the

kind or complexity of the con-

cern or query

SEC Complaints Spe-

cialist

b) Gives the appropriate

checklist of requirements,

guidelines and sample

forms; or

Checklist of require-

ments or guidelines on

SEC applications under

the jurisdiction of vari-

ous SEC Operating

Departments.

Pro-forma samples of

applications, affidavits,

certificates and forms

required for various

transactions to be filed

with the SEC.

c) Refers to the appropriate

division or unit of the CRMD

or another SEC Department

Referral slip to the

appropriate CRMD

division/unit or SEC

Department

b) Presents written com-

plaint Endorses written complaint

to the appropriate CRMD

division/unit or another SEC

Department

Written complaint

received by CRMD

division/unit or

concerned SEC De-

partment, for ap-

propriate action

END OF TRANSACTION

Table of Contents


Satellite Office: Name Verification Services


Who may avail of the service : Applicant corporations and partnerships thru their representatives What are the requirements : Name Verification Form How to avail of the service :




1 Fills up Name Verification

Form and submits it to the

verification officer together

with the request form with

money stamp

Inputs proposed company

name in the system 5 minutes per company name Satellite Office

Support Staff / Verifi-cation Officer

None Name Verification

Form

2 If proposed name is allowed

by the system, the reserva-

tion and confirmation notice

is printed and given to the

applicant;

In case the proposed com-

pany name is disallowed,

the verification officer veri-

fies the other preferences of

the applicant. (maximum of

three (3) proposed names

per number)

-do- P100

(reservation

for 30 days)

Confirmation Reser-

vation Notice

END OF TRANSACTION

Table of Contents


Satellite Office: Processing of Applications for Primary Registration of Stock and Non-Stock

Corporations


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 :



stances)

PERSON IN

CHARGE

FEES FORM

1 Verifies or reserves pro-

posed name

If proposed name is allowed




applicant.

10 minutes Satellite Office

Name Verifica-

tion Officer

P40.00- reservation for 30

days;


days;

120.00 – reservation for 90

days

Confirmation Reser-

vation Notice

2 Presents Articles of Incor-

poration and By-Laws at

the SEC Satellite Office

Checks the documents pre-

sented. If complete, pre-

pares Payment Assessment

Form (PAF) then advises the

registrant to pay the filing

fee. If not, advises applicant

to comply with the require-

ments.

10-20 minutes Satellite Office

Securities Spe-

cialist

Filing fee for stock corporation

(with par value): 1/5 of 1% of

the authorized capital stock

but not less than P2,000.00

plus 1% Legal Research Fee

(LRF);

Stock corporation (with no par

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);

Payment Assess-

ment Form

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

Registration fee for By-Laws

of stock corporation is

P1,000.00 plus 1% Legal Re-

search Fee (LRF)

Registration fee for Articles

of Incorporation and By-

Laws of a non-stock corpo-

ration is P2,100.00

3 Pays filing fee thru cashier’s

or manager’s check at SEC

Cashier or designated

banking institutions i.e.

LandBank, or other pay-

ment facilities

After receipt of application,

Satellite office staff gener-

ates the Certificate of Incor-

poration bearing applicant’s

SEC Registration No. and

corporate Tax Identification

No.

5 minutes CPRD staff Generated Certifi-

cate of Incorpora-

tion and By-laws

from the i-register

system

4 Physical transfer of the Cer-

tificate of Incorporation to-

gether all the documentary

requirements to the CRMD

Director

Within 8 working hours

5 CRMD Director reviews and

approves the application

CRMD Director

6 Presents Official Receipt to

the SEC Satellite Office to

get the Certificate of Incor-

poration

Sorts articles of incorporation

and by-laws with certificate

of incorporation for release

to applicant


Support Staff/

CPRD Staff

None Signed

Certificate of Incor-

poration and By-

Laws

END OF TRANSACTION

Table of Contents


Satellite Office: Processing of Applications for Partnership


Who may avail of the service : Applicant partnerships thru their representatives What are the requirements :

1) Cover Sheet


3) Articles of Partnership (AP)

4) Joint Undertaking to Change Name How to avail of the service :



stances)

PERSON IN

CHARGE

FEES FORM

1 Verifies or reserves pro-

posed name If proposed name is allowed




applicant


Name Verifica-

tion Officer

P100 (reservation for 30

days)

Confirmation Reser-

vation Notice

2 Presents Articles of Partner-

ship at the SEC Satellite

Office

Checks the documents pre-

sented. If complete, pre-

pares PAF, then advises the

registrant to pay the filing

fee. If not, advises applicant

to comply with require-

ments .


Securities Spe-

cialist

PAF






ment facilities

Accepts Payment Assess-

ment Form and generates

official receipt

5 minutes/activity SEC Cashier/

Designated

Banks and other

payment facili-

ties

Filing fee: 1/5 of 1% of the

Partnership’s capital but not

less than P2,000.00 plus 1% of

the amount as legal re-

search fee

Official Receipt

(OR)

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

4 After receipt of the applica-

tion, Satellite Office staff

generates the Certificate of

Recording of the Articles of

Partnership bearing appli-

cant’s SEC Registration No.

and corporate Tax Identifi-

cation No.

CPRD staff Generated Certifi-

cate of Recording

of the Articles of

Partnership from

the i-Register sys-

tem

5 Physical transfer of the appli-

cation and its attachments

to the CRMD Director

Within 8 working hours

6 CRMD Director reviews and

approves the application CRMD Director


SEC Satellite Office to get

the Certificate of Record-

ing of the Articles of Part-

nership

Sorts articles of partnership

with Certificate of Recording

of the Articles of Partnership

for release to applicant

5 minutes CFRD Staff/

Satellite Office

Support Staff

Signed Certificate

of Recording of the

Articles of Partner-

ship

END OF TRANSACTION

Table of Contents


Satellite Office: Processing of Applications for Amendment of Stock and Non-Stock Domestic

Corporations


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


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.

Table of Contents


How to avail of the service : STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY


stances)

PERSON IN

CHARGE

FEES FORM

1 Prepares Directors’ or Trus-

tees’ Certificate and

Amended Articles of Incor-

poration and/or Amended

By-laws

As stated in the

basic requirements

for amendments

2 Secures Monitoring Clear-

ance at the SEC Satellite

Office

Checks compliance with

reportorial requirements;

Checks for any double sub-

mission of the General Infor-

mation Sheet; and

Determines existence of in-

tra-corporate disputes as

provided under the

“Guidelines on Double Sub-

mission of GIS.”

Note:

For Financing and Lending

companies, issuers of propri-

etary or non-proprietary

membership (i.e. golf clubs)

listed and public companies

and foundations, monitoring

shall be with the Corporate

Governance and Finance

Department (CGFD).

For capital market partici-

pants such as brokers, deal-

ers and investment houses, monitoring is with the Mar-

kets Securities and Regula-

tion Department (MSRD).

Within 5 days from

date of presentation

of complete require-

ments

Satellite Office

Securities Spe-

cialist

Payment of penalties Payment Assess-

ment Form/ Moni-

toring Sheet

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

3 Submits the (i) Directors’/

Trustees’ Certificate; (ii)


poration and/or Amended

By-laws; and the (iii) Moni-

toring Clearance to SEC

Satellite Office for pre-

processing

Checks documents if com-

pliant with the provisions of

the Corporation Code of the

Philippines and other existing

laws. If complete, advises

registrant to pay filing fee. If

not, advises applicant to

comply with requirements

15-30 minutes depend-

ing on the complexity

of amendments

Satellite Office

Securities Spe-

cialist

As stated in the

basic requirements

for amendments






ment facilities

Accepts Payment Assess-

ment Form and generates

official receipt

5 minutes SEC Cashier/

Designated

Bank and other

payment facili-

ties

Registration fee for the


poration is P1,000.00 plus 1%

Legal Research Fee (LRF) of

not less than P50.00.



poration where amendment

consists of extending the

term of corporate existence

is 1/5 of 1% of the authorized

capital stock but not less

than P2,000.00 plus 1% of

Legal Research Fee (LRF).



poration where there is con-

version or reclassification of

shares is P2,000.00 plus 1%

Legal Research Fee (LRF).


Amended By-laws is


search Fee (LRF) of not less

than P50.00

Official Receipt

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM



to the Main Office

Within 8 working hours CRMD Staff

6 Files the application to the

SEC Satellite Office

After receipt of the applica-

tion, the same shall be for-

warded to the Corporate

Filings and Records Division

(CFRD) for the verification

and production of appli-

cant’s corporate records on

file with the Commission. For

corporations registered from

1996 onwards whose records

are available in the Commis-

sion’s database, production

of documents may take 1 to

2 days. However, for corpo-

rations whose records are

not available in the data-

base, production of docu-

ments may take longer as

the same shall be secured

from the SEC offsite ware-

house.

Thereafter, the application

with the attached records

shall be transmitted to CPRD

for the generation of the

Certificate of Filing of


poration and/or By-laws.


Staff/

CPRD Staff

Printed Certificate

of Filing of Amend-

ed Articles of Incor-

poration and/or By-

laws.

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

7 The Assistant Director will re-

view the application and

forward it to the CRMD Di-

rector for approval

Asst. Director

CRMD Director



the Certificate of Approval

of Amendment

Sorts articles of incorporation

and/or by-laws with Certifi-

cate of Filing of Amended

Articles of Incorporation

and/or Certificate of Filing of

Amended By-laws for re-

lease to applicant

Certificates may be

claimed within five (5)

days from filing of ap-

plication from the SEC

Satellite Office Releas-

ing Unit. However, for

corporate records not

available in the data-

base, the release of

the Certificate of Filing

may vary.

Satellite Office

Staff/

CFRD Staff

Signed Certificate

of Filing of the

Amended Articles

of Incorporation

and/or By-laws

END OF TRANSACTION

Table of Contents


Satellite Office: Processing of Applications for Amendment of Partnerships


Who may avail of the service : Applicant partnerships thru their representatives What are the requirements :

1) Cover Sheet

2) The Amended Articles of Partnership signed by all partners and duly notarized

If the amendment pertains to the transfer or assignment of interest(s), or the withdrawal, resignation or death of any partner, the document

evidencing said fact shall be submitted in support of the application. How to avail of the service :



stances)

PERSON IN

CHARGE

FEES FORM

1 Prepares the Amended

Articles of Partnership

As stated in the

basic requirements

for amendments

2 Submits the Amended Arti-

cles of Partnership at the

SEC Satellite Office for pre-

processing.

Checks the documents if

compliant with the Civil

Code provisions on partner-

ship and other existing laws.

If complete, advises regis-

trant to pay filing fee. If not,

advises applicant to comply

with requirements.


Securities Spe-

cialist






ment facilities


ment Form

1 minute Designated

Banking Institu-

tions and other

payment facili-

ties

Registration fee P2,000.00

plus 1% of Legal Research

Fee (LRF)

For increase of capital: 1/5

of 1% of the increase in cap-

ital but not less than


search Fee

Payment Assess-

ment Form/

Official Receipt



the Main Office

Within 8 working hours CRMD Staff

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

5 Files the application to the

SEC Satellite Office


tion by CFRD, the records on

file shall be attached and

transmitted to CPRD for the

generation of the Certificate

of Recording of Amended

Articles of Partnership.

The Asst. Director will review

the application and forward

it to the CRMD Director for

approval.

10-15 minutes Satellite Support

Staff

CPRD Staff

Asst. Director

CRMD Director

Printed Certificate

of Recording of

Amended Articles

of Partnership



the Certificate of Record-

ing of Amended Articles of

Partnership.

Sorts articles of partnership


of the Amended Articles of

Partnership for release to

applicant

Certificate may be

claimed within 5 days

from the filing of appli-

cation with the SEC

Satellite Office Receiv-

ing Unit

Satellite Office

Staff/

CFRD Staff

Signed Certificate

of Recording of

Amended Articles

of Partnership.

END OF TRANSACTION

Table of Contents


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

Reclassification/Conversion/Change of Par Value Sales


Who may avail of the service : General Public What are the requirements :

Amendment of Article VII of Articles of Incorporation:

1) Increase of Authorized Capital Stock

2) Decrease of Authorized Capital Stock Thru Return of Capital

All Others

3) Reclassification / Conversion / Change of Par Value of Shares



ACTIVITY (under normal

circumstances)

PERSON IN

CHARGE FEES FORM


supporting documents, together with monitoring

clearance, for pre-

processing

Pre-screening of Applications

Note: Documents must be complete

in accordance with checklist of re-

quirements herein provided. Other-

wise the same shall be rejected.

5 minutes Support

Staff None

Pre-process application and support-

ing documents a) If compliant, the assigned Proces-

sor prepares final checklist and

forwards the same to the FAAD

Assistant Director for review b) If non-compliant, prepares check-

list of deficiencies

30 minutes to 1

Hour

Specialist None

Physical transfer of the application

and its attachments to the Main Of-

fice

Within 8 working

hours CRMD Staff

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


ment Form (PAF) Upon approval of the prepared re-

port 5-10 minutes Specialist Increase of Capital Stock

(corporation with par value) -

1/5 of 1% of the increase

stock or the subscription price

of the subscribed capital

stock whichever is higher but

not less than P3,000.00 plus

1% Legal Research Fee (LRF) Increase of Capital Stock

( corporation with no par val-

ue) - 1/5 of 1% of the in-

crease stock computed at

P100.00 or the subscription

price of the subscribed capi-

tal stock whichever is higher

but not less than P3,000.00

plus 1% Legal Research Fee

(LRF) Decrease of Authorized Cap-

ital stock- Return of capital: P5,000.00

plus 1% LRF All others: P3,000.00 plus 1%

LRF Amended Articles of Incorpo-

ration re: conversion/

reclassification of shares –

P2,000.00 plus 1% LRF

3 File the application to the

SEC Satellite Office After receipt of the application by

CFRD, the records on file shall be at-

tached and transmitted to CPRD for

the generation of the Certificate of

Increase/Decrease of Authorized

Capital Stock and Amended Articles

of Incorporation

10-15 minutes Satellite

Support

Staff CPRD Staff

Printed Certifi-

cate of Increase/

Decrease of Au-

thorized Capital

Stock and

Amended Articles

of Incorporation

Table of Contents




circumstances)

PERSON IN

CHARGE

FEES FORM

- Please Proceed to Step 2 -


supporting documents, together without monitor-

ing clearance, for pre-

processing

Pre-screening of Applications Note: Documents must be complete

in accordance with checklist of re-

quirements herein provided. Other-

wise the same shall be rejected

5 minutes Support

Staff

None

Pre-process application and sup-

porting documents a) If compliant, the assigned Proces-

sor forwards the application to the

FAAD Assistant Director

b) If non-compliant, prepares check-


1 hour to 3 hours

Specialist

Monitors compliance with reporto-

rial requirements and rules and

regulations of SEC

c) If assessed without PENALTY, the

assigned Processor forwards the

application to the FAAD Assistant

Director provided the application

documents are compliant (item

no. 2) d) If assessed with PENALTY, Prepares

and issues Payment Assessment

Form (PAF)

1-2 Hours

Specialist

Physical transfer of the application

and its attachments to the Main Of-

fice

Within 8 working

hours

CRMD Staff

Table of Contents




circumstances)

PERSON IN

CHARGE

FEES FORM

Review applications and supporting

documents

30 minutes to 1

Hour

CPRD/

FAAD Assis-

tant Direc-

tor(s)

2

Pays assessed penalties at

the designated payment

utilities

Processes payment and Issues Official

Receipt

5 minutes

Cashier

3

Submits the machine-

validated PAF and the ap-

plication documents, if

compliant (item 2 of 1.2.1),

to the Assigned Processor

thru the Counter Officer

1) Receives the PAF and application

documents

2) Prepares Confirmation of Payment

of Penalties 3) Attaches the same to the applica-

tion documents 4) Prepares and submits final check-

list for review

5 minutes 10 to 15 minutes 1 minute 15 to 20 minutes

Support

Staff Specialist

4

Submits the machine-

validated PAF to Satellite

Office together with the

Four (4) sets of application

documents

1) Secures and attaches the PAF to

the application

2) Stamps receive Four (4) sets the

application documents 3) Returns one (1) copy of the appli-

cation to the client 4) Forwards the application to CFRD

5) Verifies and produces applicant’s

record which shall be attached to

the application

6) Forwards the application to CPRD

for the generation of Certificate 7) Generates Certificate 8) Approves and signs application

documents and certificate, re-

spectively.

3 minutes 1 minute 1 minute End of the day 10 to 15 minutes 5 minutes 30 Minutes 5 to 10 minutes

Support

Staff

(Receiving

Officer) Support

Staff (CFRD) Support

Staff (CPRD) Director

None

Table of Contents




circumstances)

PERSON IN

CHARGE

FEES FORM

9) Forwards to CRMD Releasing Unit

Support

Staff

(Office of

the Direc-

tor)

None


Satellite Office to claim the

approved Certificate of

Increase, Decrease,


poration

Sorts/Releases the Certificate of In-

crease/Decrease of Authorized Capi-

tal Stock and Certificate of Filing of

Amended Articles of Incorporation

and/or By-laws with all pertinent doc-

uments

5 minutes Support

Staff (Releasing)

END OF TRANSACTION

Table of Contents


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



Petition for Amendment/Conversion of License

1) Authenticated copy of the Board Resolution approving the amendment/conversion

2) Monitoring Clearance

3) Endorsement from the Board of Investments (for RHQ and ROHQ)

Additional Requirements for Amendment for Corporate Name

1) Name Verification Slip

2) Affidavit of a Director/Resident Agent/Local Agent undertaking to change the new corporate name

3) Authenticated copy of Amended Articles of Incorporation/Association/By-laws with an English translation if a foreign language other than English

Additional requirement for Conversion of License to Stock Branch Office (DME) and ROHQ

Proof of compliance with the minimum assigned capital/remittance

Application form (not required if Petition contains all the items in the prescribed Application Form)

Change of Resident Agent

1) Petition for Change of Resident Agent (RA)

2) Authenticated copy of the Board Resolution approving the change/appointment of RA

3) Acceptance by the new RA (not required if RA is the signatory to the Petition)

4) Monitoring Clearance Withdrawal of License

1) Petition for withdrawal of License;

2) Authenticated copy of the Board Resolution authorizing the withdrawal of license

3) Audited Financial Statements (AFS)

a) as of the last fiscal year

b) stamped received by the BIR and SEC

4) List of creditors, if any, and their consent, OR notarized certification as to non-existence of creditors (Note: to be verified against the AFS)

5) Original license issued by SEC

6) Publisher's affidavit evidencing the publication of the notice of withdrawal ( once a week for three [3] consecutive weeks )

7) Endorsement/Clearance from the Board of Investments (for RHQ and ROHQ)

8) Endorsement/Clearance from appropriate government agencies

9) BIR Tax Clearance

Table of Contents





circumstances)

PERSON IN

CHARGE FEES FORM

1 Prepares Petition for conver-

sion/withdrawal of license and

other documentary require-

ments

As stated in the

basic requirements

for conversion/ Withdrawal

2 Secures Monitoring Clearance Checks compliance with

reportorial requirements

Within 5 days

from date of

presentation of

complete re-

quirements

Securities Spe-

cialist


ment Form/ Monitor-

ing Sheet

3 Submits the Petition for conver-

sion/withdrawal of license,

Monitoring Clearance and oth-

er documentary requirements



the Corporation Code of

the Philippines and other

existing laws. If complete,

advises registrant to pay

filing fee. If not, advises ap-

plicant to comply with re-

quirements

15-30 minutes

Securities Spe-

cialist

None As stated in the

basic requirements

for amendments

4 Review of CPRD and/or

FAAD Asst. Director(s) 30 minutes CPRD and/or

FAAD Asst. Di-

rector(s)

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

5 Pays filing fee thru cashier’s or

manager’s check at SEC Cash-

ier

Accepts payment assess-

ment form and generates

official receipt

5 minutes

SEC Cashier Conversion of Repre-

sentative Office to

Branch Office vice versa-

1% of the actual inward

remittance converted

into Philippine currency

but not less than

P5,000.00 plus 1% Legal

Research Fee (LRF) Conversion of ROHQ to

RHQ vice versa – 1% of

the actual remittance

but not less than 1% of

peso equivalent of

US$200,000 at the time of

remittance Petition for Amendment

of License of Foreign Cor-

porations and multina-

tional companies –


Research Fee Withdrawal of License of

Foreign Corporations and

Multinational corpora-

tions – P3,000.00 plus Le-

gal Research Fee Petition for appointment/

substitution/revocation of

resident agent - P3,000.00

plus Legal Research Fee

Official Receipt

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

5 Amended Articles of In-

corporation and By-laws

of foreign corporations -

P2,000.00 plus Legal Re-

search Fee

Official Receipt

6 Files the application to the Re-

ceiving Unit, Corporate Filings

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-


ments may take 1 to 2 days.

However, for corporations

whose records are not availa-

ble in the database, produc-

tion of documents may take

longer as the same shall be

secured from the SEC offsite

warehouse. Thereafter, the application with the attached records


for the generation of the Cer-

tificate of Filing of Amended

Articles of Incorporation and/

or By-laws. CRMD Director reviews and


5-10 minutes Support Staff/ CPRD Staff

CRMD Director

None

Printed License

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

7

Presents Official Receipt to Re-

leasing Unit, CFRD to get the

License of Approval of Amend-

ment

Sorts petition and other

documentary requirements

together with the license

License may be

claimed within

five (5) days

from filing of ap-

plication. How-

ever, for corpo-

rate records not

available in the

database, the

release of the

Certificate of

Filing may vary.

Support Staff/ CFRD Staff

None Signed License

END OF TRANSACTION

Table of Contents


Satellite Office: Processing of Applications of Foreign Corporations


Who may avail of the service : Registrant foreign corporation thru their representatives What are the requirements :

1) Cover Sheet


3) Application Form (AF)

a) F-103 – Stock Branch Office (SBO)

b) F-104 – Stock Representative Office (SRO) c) F-108 – Non-Stock Branch and Representative Office, including Foundations (NBO & NRO)

4) Authenticated copy of the Board Resolution

i) authorizing the establishment of the Branch/Representative Office in the Philippines

ii) designating the Resident Agent to whom summons and other legal processes may be served in behalf of the foreign corporation

iii) stipulating that in the absence of such Agent or upon cessation of its business in the Philippines, any summons or legal processes may be served to

SEC as if the same is made upon the corporation at its home office

5) Authenticated copy of the Articles of Incorporation/ Partnership / Establishment with an English translation thereof if in a foreign language other than

English

6) Financial Statements (per MC 11 of 2013) a) For those whose home country requires audited financial statements, the applicant shall submit financial statements:

for the immediately preceding year at the time of filing of the application

audited by an independent Certified Public Accountant of the home country

authenticated before the Philippine Consulate/Embassy

If the date of the AFS exceeds the one-year requirement, the applicant shall submit:

Authenticated Audited Financial Statements that are available as of date of filing of the application; and

Authenticated Unaudited Financial Statements (AUFS) as of date not exceeding one (1) year immediately prior to the filing of the applica-

tion signed by an officer of the foreign corporation.

b) For those whose home country does not require audited financial statements, the applicant shall submit:

Authenticated Unaudited Financial Statements as of a date not exceeding one (1) year immediately prior to the filing of the application; and

Authenticated Certification signed under oath by an officer of a responsible regulatory institution or by the applicant’s legal counsel that the ap-

plicant is not required to prepare and submit audited financial statements, with citation of the law or regulation on which it is based. (attach the

print out of the law for verification purposes)

Table of Contents


7) Compliance with Financial Ratios Stock Branch Office

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

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


2) Application Form

3) Certification from the Philippine Consulate/Embassy or the Philippine Commercial Office or from the equivalent office of the Philippine DTI in the appli-

cant's home country that said foreign firm is an entity engaged in international trade with affiliates, subsidiaries or branch offices in the Asia Pacific Re-

gion and other foreign markets; in case the Certification is issued by the equivalent office of the DTI, the same shall be authenticated by the Philippine

Consulate/Embassy

4) Authenticated Certification from principal officer of the foreign entity to the effect that the said foreign entity has been authorized by its board of di-

rectors or governing body to establish its RHQ/ROHQ


6) Endorsement of the Board of Investments (BOI)

7) Endorsement/Clearance from appropriate government agencies, if applicable

Ratio Formula Benchmark Value

Solvency Total Assets/Total Liabilities 1:1

Liquidity Current Assets/Current Liabilities 1:1

Debt to Equity Total Liabilities/Equity 3:1



Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

1 Applicant presents ALL ac-

complished documentary

requirements for pre-

processing at the Satellite

Office

Assigns the application to

processor 5 minutes Support Staff FIA Form 103 –

SBO

FIA Form 104 –

SRO

FIA Form 108 -

NBO/NRO

RHQ

ROHQ

2 Applicant waits to be

called by the Specialist Specialist pre-processes/

evaluates the application


cialist

All documentary

requirements

3 Specialist issues Payment

Assessment Form (PAF) 5 minutes Securities Spe-

cialist

Filing Fees (FF):

SBO:

1% of the actual inward re-

mittance converted into

Philippine currency but not

less than P3,000

SRO:

1/10 of 1% of the actual in-

ward remittance converted

into Philippine currency but

not less than P2,000

NBO & NRO:

P3,000

RHQ:

P5,000

Payment Assess-

ment Form

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

3 ROHQ:


mittance but not less than

1% of peso equivalent of


remittance

Legal Research Fee:

For ALL Applications:

1% of the License Fee but

not less than P50.00 shall be

paid at the time of filing

4 Applicant pays license fees

to cashier and files appli-

cation with Receiving Unit,

Corporate Filing and Rec-

ords Division

Cashier

CFRD Support

Staff

5 Upon receipt of application

from the CFRD, CPRD Sup-

port prepares the License,

and the Securities Specialist

prepares the Checklist of

Requirements , which con-

tains the financial report for

SBO (Checklist)


cialist

License Checklist

6 FAAD and/or CPRD Assistant

Director(s) evaluates/

reviews the License and oth-

er attached documentary

requirements and initials the

same.

1 hour FAAD and/or

CPRD Assistant

Director(s)

License Checklist

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stances)

PERSON IN

CHARGE

FEES FORM

7 CRMD Director reviews/signs

the License.

30 minutes CRMD Director License

8 Applicant claims the Li-

cense from CFRD

(Official Receipt must be

presented)

CFRD Support

Staff License

END OF TRANSACTION

Table of Contents


Greenlane Unit: Registration of Stock and Non-Stock, Non-Profit Corporations and Partnerships

Schedule of availability of service : Monday, 8:30 AM to 5:00 PM (no noon break); Tuesday to Friday, 8:00 AM to 5:00 PM (no noon break)

Who may avail of the service : Transacting Public What are the requirements :

A. Stock Corporation

1) Reservation Payment Confirmation 2) Articles of Incorporation (AI), with cover sheet

3) Treasurer’s Affidavit

4) By-laws (BL)

5) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Incorporation

6) Affidavit of Relinquishment (in case Treasurer-in-Trust is a foreigner for a corporation with a 60% Filipino-40% foreign equity)

7) Proof of Residency in the Philippines, in case all or majority of the incorporators are resident aliens

8) Authenticated Articles of Incorporation and By-Laws and supporting documents, in case any of the incorporator/s or authorized signatories signed the

AI-BL or other documents in a foreign country

9) Endorsement/Clearance from other government agencies, if applicable

10) Endorsement/Clearance from other Department/s of the SEC, if applicable

11) Endorsement/Clearance from a) Philippine Economic Zone Authority (PEZA); b) Subic Bay Metropolitan Authority (SBMA) or Clark Development Corpo-

ration (CDC) and c) Cagayan Economic Zone Authority, if applicable

12) Tax Identification Numbers (TIN) for Filipino incorporators, directors, officers and stockholders, including corporate subscribers

13) Tax Identification Numbers (TIN) or Passport Numbers for foreign incorporators, directors, officers and domestic foreign subscribers

14) Proof of Existence of foreign corporate subscribers

15) Filing Fees:

a) Stock corporation with par value – 1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock, whichever is

higher but not less than P2,000

b) Stock corporation without par value – 1/5 of 1% of the authorized capital stock computed at P100 per share of the subscription price of the sub-

scribed capital stock, whichever is higher but not less than P2,000

Table of Contents


What are the requirements :

B. Non-Stock, Non-Profit Corporation


2) Articles of Incorporation (AI) and By-Laws (BL), with cover sheet

3) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Incorporation

4) List of names of contributors or donors and the amounts contributed or donated, certified by the Treasurer (not required if this is already stated in the

Articles of Incorporation). There is no fixed amount of contribution required but only such amount as the incorporators and trustees may deem suffi-

cient to enable the corporation to start operation, except in the case of a Foundation which must have a minimum contribution of at least One Million

Pesos (P1,000,000.00)

5) Endorsement/clearance from other government agencies, if applicable

6) For a Foundation: a) Notarized Certificate of Bank Deposit of the contribution which shall not be less than One Million (P1,000,000,00) Pesos; and

b) Statement of Willingness to allow the Commission to conduct an audit

7) For a Religious Corporation: a) Refer to Sections 109-116 of the Corporation Code; b) An affidavit of Affirmation or Verification by the chief priest,

rabbi, minister or presiding elder (not required if this is already part of the Articles of Incorporation)

8) For a Federation: List of Member-Associations, certified by the Corporate Secretary

9) For a Condominium corporation/association: a) Master Deed with primary entry of the Register of Deeds; b) Certification that there is no other existing

similar condominium association within the condominium project

10) Tax Identification Numbers (TIN) for Filipino incorporators, trustees/directors, officers and members

11) Tax Identification Numbers (TIN) or Passport Numbers for foreign incorporators, trustees/directors, officers and members

12) Filing Fee: P1,000.00

C. Partnership


2) Articles of Partnership

3) Joint Affidavit of Undertaking to Change Name, in case the revised undertaking is not incorporated in the Articles of Partnership

4) Endorsement/Clearance from other government agencies, if applicable

5) Endorsement/Clearance from other Department/s of the SEC, if applicable

6) Tax Identification Numbers (TIN) for Filipino partners

7) Tax Identification Numbers (TIN) or Passport Numbers for foreign partners

8) Filing fee: 1/5 of 1% of the partnership’s capital but not less than P2,000

*Legal Research Fees: 1% of the Registration/Filing Fee but not less than Fifty Pesos (P50.00) shall be paid at the time of filing.

Table of Contents








1) Receives, encodes and

assigns application to

processor for pre-

processing based on a

first-come, first served

basis in accordance with

the number queuing.

Signs the request form/

transaction slip with the

name of the assigned

processor and gives

back to applicant. How-

ever, in case the name

reservation notice is ex-

pired, applicant is ad-

vised to proceed to the

Name Verification Unit

for extension of name. If

the documents are not

arranged in proper se-

quence, applicant is ad-

vised to arrange in the

proper order.

2) Evaluates/pre-processes

application and support-

ing documents


porting documents

are incomplete, the

processor returns

them to applicant

with list of deficiencies

and requirements not

complied with.

5 minutes per application

5-15 minutes for pro-forma AI-

BL; 20-30 minutes for complex

AI-BL.

Officer of the day

Processor

Articles of Incorpo-

ration and By-Laws

(stock or non-stock

corporation)


ship

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complete, processor

endorses the same to

the Officer-in-Charge

or Assigned Reviewer

3) Reviews applications

a) Stamps OK for PAF

(Payment Assessment

Form) the cover sheet

of the application if

the same is compliant

b) If deficient, returns to

processor or directly

advises the client, with

checklist of the defi-

ciencies.


ment Form (PAF).

5-10 minutes for pro-forma AI-

BL; 30-40 minutes for complex

AI-BL

Officer-in-Charge

(OIC) or Securities

Specialist

Officer-in-Charge

(OIC) or Securities

Specialist

Officer of the day

Stock Corp.: I/5

of 1% of the

authorized

capital stock or

the subscrip-

tion price of

the subscribed

capital stock,

whichever is

higher but not

less than

P2,000.00

Non-stock

corp.:

P1,050.00

Partnership:

1/5 of 1% of

the partner-

ship’s capital

but not less

than P2,000.00

Cover sheet of the

AI-BL duly initialed

by the OIC or Secu-

rities Specialist to

show that it has

been reviewed and

cleared for issu-

ance of the PAF

PAF

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5) Initials the PAF and calls

the name of the corpora-

tion to instruct the repre-

sentative to pay at the

Cashier and proceed to

the receiving section after

payment

Processor, Securities

Specialist or OIC

PAF duly initialed by

the processor, Se-

curities Specialist or

OIC

2 Presents the PAF and pays

at the Cashier

Receives payment and is-

sues OR

Varies Cashier PAF/OR

3 6. a) Receives the paid ap-

plications, performs teller-

ing by inputting the Reser-

vation Reference Number

(RRN) in the i-Register sys-

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

a) Reviews and signs Certifi-

cates of Incorporation

and URR transmittal letters

b) Returns to the processor

or OIC of the GLU in case

of deficiencies.

a) and b) 5 minutes per appli-

cation

30 minutes per application

Support Staff

CRMD Director

Certificate of Incor-

poration

with SEC Reg. No.

and TIN of Regis-

trant

Certificates of In-

corporation duly

signed by the

CRMD Director

Table of Contents





8.a) Generates Employer’s

Registration Numbers (ERNs)

from the three (3) social

agencies (i.e., SSS, Pag-IBIG

and PhilHealth) and print

Unified Registration Records

(URRs) through the Integrat-

ed Business Registration Sys-

tem (IBRS) and print-out pro

forma transmittal letters

b) Encodes work assignment

status via SEC –iRegister

9. Records and forwards

Certificates of Incorporation

and applications to the Re-

leasing Unit, Corporate Filing


10. Document Identification

(Doc ID) of the approved

certificates of incorporation

and applications.

a) and b) 1 minute per applica-

tion

10 seconds per application

30 seconds per application

Support Staff

Executive Assistant or

Clerk assigned at the

Office of the Director

Unified Registration

Records (URRs)

bearing the Em-

ployer’s Registra-

tion Numbers

(ERNs) issued by the

SSS, Pag-IBIG and

PhilHealth and URR

Transmittal

Letters

Approved applica-

tions sorted by

batch to be for-

warded to the Mi-

crofilm Unit of the

Commission

END OF TRANSACTION

Table of Contents


Application for Amendment of Stock and Non-Stock Domestic Corporations



I. Amended Articles of Incorporation

1) Cover Sheet

2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors (in case of stock corporations) or trustees (in case of non

-stock corporations) and the corporate secretary, certifying (i) the amendment of the Articles of Incorporation or By-laws and indicating the amended

provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date and place of the stockholders’ or members’ meeting;

and (iv) the tax identification number of the signatories which shall be placed below their names.

3) Amended Articles of Incorporation/Amended By-laws—All amendments/changes made shall be indicated by underscoring the same followed by the

date of the meeting approving the same (i.e. As amended on_____).


5) Monitoring clearance at the Corporate and Partnership Registration Division

6) Secure and attach endorsement/clearance from other government agencies or other SEC Departments, if applicable.

7) If the provision to be amended is the corporate name, secure Name Verification Slip from the Name Verification and Reservation Unit, 2nd Floor, SEC

Bldg.

8) Amendment of the Articles of Incorporation may be made on the following:

a.) Corporate name

b.) Purpose (Primary/Secondary)

c.) Address

d.) Number of directors/trustees

e.) Authorized Capital Stock

II. Amended By-Laws

1) Amended By-laws

2) Directors’ or Trustees’ Certificate – a notarized document signed by a majority of the directors or trustees and the corporate secretary, certifying to (i)

the amendment of the By-laws, indicating the amended provisions, (ii) the vote of the directors or trustees and stockholders or members, (iii) the date

and place of the stockholders’ or members’ meeting, and (iv) the tax identification number of the signatories which shall be placed below their

names 3) Notarized Secretary’s Certificate on no pending case of intra-corporate dispute 4) Monitoring Clearance at the Corporate and Partnership Registration Division

Note: The following cannot be amended: names, citizenship and residences of the incorporators and/or directors/trustees; names, citizenship and original

subscription of the subscribers; names and contribution of each member; name of the designated Treasurer.

Table of Contents



(UNDER NORMAL CIR-

CUMSTANCES)

PERSON IN

CHARGE FEES FORM

1 Prepares Directors’ or

Trustees’ Certificate

and Amended Articles

of Incorporation and/

or Amended By-laws

As stated in the

basic requirements

for amendments

2 Secures Monitoring

Clearance

Checks compliance with re-

portorial requirements;

Checks for any double sub-

mission of the General Infor-

mation Sheet; and

Determines existence of intra-

corporate disputes as provid-

ed under the “Guidelines on

Double Submission of GIS.

Note:

For Financing and Lending

companies, issuers of proprie-

tary or non-proprietary mem-

bership (i.e. golf clubs) listed

and public companies and

foundations, monitoring shall

be with the Corporate Gov-

ernance and Finance Depart-

ment (CGFD)

For capital market partici-

pants such as brokers, dealers

and investment houses, moni-

toring is with the Markets Se-

curities and Regulation De-

partment (MSRD)

Within 5 days from date

of presentation of com-

plete requirements

Securities Specialist


ment Form/ Moni-

toring Sheet

Table of Contents



(UNDER NORMAL CIR-

CUMSTANCES)

PERSON IN

CHARGE FEES FORM

3 Submits the (i) Direc-

tors’/Trustees’ Certifi-

cate; (ii) Amended

Articles of Incorpora-

tion and/or Amended

By-laws; and the (iii)

Monitoring Clearance

for pre-processing






advises registrant to pay fil-

ing fee. If not, advises appli-

cant to comply with require-

ments.

15-30 minutes

Securities Specialist None As stated in the

basic requirements

for amendments

4 Pays filing fee thru

cashier’s or man-

ager’s check at SEC

Cashier



official receipt

5 minutes SEC Cashier Registration fee for the

Amended Articles of

Incorporation is

P1,000.00. Registration fee for the

Amended Articles of

Incorporation where

amendment consists of

extending the term of

corporate existence is

1/5 of 1% of the author-

ized capital stock but

not less than P2,000.00

plus 1% of such amount

as legal research fee. Registration fee for the

Amended Articles of

Incorporation where

there is conversion or

reclassification of shares

is P2,000.00 plus Legal

Research Fee (LRF) of

not less than P50.00.

Official Receipt

Table of Contents



(UNDER NORMAL CIR-

CUMSTANCES)

PERSON IN

CHARGE FEES FORM

4 Registration fee for the

Amended By-laws is


search Fee (LRF) of not

less than P50.

Official Receipt

5 Files the application to

the Receiving Unit,

Corporate Filings and

Records Division

(CFRD)



warded to the Corporate

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 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.

5-10 minutes Support Staff/ CPRD Staff

None

6 Thereafter, the application

with the attached records


for the generation of the



poration and/or By-laws.

Printed Certificate

of Filing of Amend-


poration and/or By-

laws

Table of Contents



(UNDER NORMAL CIR-

CUMSTANCES)

PERSON IN

CHARGE FEES FORM

7 Assistant Director will review

the application 20-30 minutes Asst. Director

Printed Certificate

of Filing of Amend-


poration and/or By-

laws

8 CRMD Director signs the

Certificate CRMD Director Printed Certificate

of Filing of Amend-


poration and/or By-

laws

9

Presents Official Re-

ceipt to Releasing

Unit, CFRD to get the

Certificate of Approv-

al of Amendment

Sorts articles of incorpora-

tion and/or by-laws with



poration and/or Certificate

of Filing of Amended By-

laws for release to appli-

cant

Certificates may be

claimed within five (5)

days from filing of appli-

cation from the Releas-

ing Unit. However, for

corporate records not

available in the data-

base, the release of the

Certificate of Filing may

vary.


None Signed Certificate

of Filing of the

Amended Articles

of Incorporation

and/or By-laws

END OF TRANSACTION

Table of Contents


Application for Amendment of Partnerships



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.


STEP APPLICANT/ CLIENT

SERVICE PROVIDER DURATION OF


circumstances)

PERSON IN

CHARGE FEES FORM

1 Prepares the Amended Arti-

cles of Partnership

As stated in the

basic requirements

for amendments 2 Submits the Amended Articles

of Partnership for pre-

processing.

Checks the documents if com-

pliant with the Civil Code provi-

sions on partnership and other

existing laws. If complete, ad-

vises registrant to pay filing fee.

If not, advises applicant to

comply with requirements.

5 minutes

Securities

Specialist


manager’s check SEC Cashier Prepares Payment Assessment

Form 1 minute SEC Cashier Registration fee P2,000.00


(LRF) of not less than

P50.00; For increase of capital:

1/5 of 1% of the increase

in capital but not less

than P2,000.00 plus Legal

Research (LRF) of not less

than P50.00

Payment Assessment

Form/ Official Receipt

Table of Contents





circumstances)

PERSON IN

CHARGE FEES FORM

4 Files the application to Receiv-

ing Unit, Corporate Filings and

Records Division (CFRD)

After receipt of the application

by CFRD, the records on file

shall be attached and transmit-

ted to CPRD for the generation

of the Certificate of Recording

of Amended Articles of Partner-

ship.

10-15 minutes CPRD Staff

Printed Certificate of

Recording of

Amended Articles of

Partnership

5 Asst. Director will review the ap-

plication

5-15 minutes Assistant Di-

rector Certificate of Re-

cording of Amended


ship.

6 CRMD Director signs the Certifi-

cate

5-15 minutes CRMD Direc-

tor Certificate of Re-

cording of Amended


ship.

7

Presents Official Receipt to

Releasing Unit, CFRD to get

the Certificate of Recording of

Amended Articles of Partner-

ship.

Sorts articles of partnership with

Certificate of Recording of the

Amended Articles of Partner-

ship for release to applicant

Certificate may

be claimed

within 2 days

from the filing

of application

with the Receiv-

ing Unit

CFRD Staff None Signed Certificate of

Recording of

Amended Articles of

Partnership.

END OF TRANSACTION

Table of Contents


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)


Petition for Amendment/Conversion of License

1) Authenticated copy of the Board Resolution approving the amendment/conversion


3) Endorsement from the Board of Investments (for RHQ and ROHQ)

Additional Requirements for Amendment for Corporate Name


2) Affidavit of a Director/Resident Agent/Local Agent undertaking to change the new corporate name

3) Authenticated copy of Amended Articles of Incorporation/Association/By-laws with an English translation if a foreign language other than English

Additional requirement for Conversion of License to Stock Branch Office (DME) and ROHQ

1) Proof of compliance with the minimum assigned capital/remittance

2) Application form (not required if Petition contains all the items in the prescribed Application Form)

Change of Resident Agent

1) Petition for Change of Resident Agent (RA)

2) Authenticated copy of the Board Resolution approving the change/appointment of RA

3) Acceptance by the new RA (not required if RA is the signatory to the Petition)


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

Table of Contents





circumstances)

PERSON IN

CHARGE FEES FORM

1 Prepares Petition for conver-

sion/withdrawal of license and

other documentary require-

ments

As stated in the

basic requirements

for conversion/ Withdrawal

2 Secures Monitoring Clearance Checks compliance with

reportorial requirements

Within 5 days

from date of

presentation of

complete re-

quirements

Securities Spe-

cialist


ment Form/ Monitor-

ing Sheet

3 Submits the Petition for conver-

sion/withdrawal of license,

Monitoring Clearance and oth-

er documentary requirements






advises registrant to pay

filing fee. If not, advises ap-

plicant to comply with re-

quirements

15-30 minutes

Securities Spe-

cialist

None As stated in the

basic requirements

for amendments

4 Review of CPRD and/or

FAAD Asst. Director(s) 30 minutes CPRD and/or

FAAD Asst. Di-

rector(s)

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


manager’s check at SEC Cash-

ier



official receipt

5 minutes

SEC Cashier Conversion of Repre-

sentative Office to

Branch Office vice versa-

1% of the actual inward

remittance converted

into Philippine currency

but not less than


Research Fee (LRF) Conversion of ROHQ to

RHQ vice versa – 1% of

the actual remittance

but not less than 1% of

peso equivalent of


remittance Petition for Amendment

of License of Foreign Cor-

porations and multina-

tional companies –


Research Fee Withdrawal of License of

Foreign Corporations and

Multinational corpora-

tions – P3,000.00 plus Le-

gal Research Fee Petition for appointment/

substitution/revocation of

resident agent - P3,000.00


Official Receipt

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

Amended Articles of In-

corporation and By-laws

of foreign corporations -


search Fee

Official Receipt

6 Files the application to the Re-

ceiving Unit, Corporate Filings




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-


ments may take 1 to 2 days.

However, for corporations

whose records are not availa-

ble in the database, produc-

tion of documents may take

longer as the same shall be

secured from the SEC offsite

warehouse. Thereafter, the application with the attached records


for the generation of the Cer-

tificate of Filing of Amended

Articles of Incorporation and/

or By-laws. CRMD Director reviews and


5-10 minutes

10-15 minutes

Support Staff/ CPRD Staff

CRMD Director

None

Printed License

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

7

Presents Official Receipt to Re-

leasing Unit, CFRD to get the

License of Approval of Amend-

ment

Sorts petition and other

documentary requirements

together with the license

License may be

claimed within

five (5) days

from filing of ap-

plication. How-

ever, for corpo-

rate records not

available in the

database, the

release of the

Certificate of

Filing may vary.


None Signed License

END OF TRANSACTION

Table of Contents


Application of Foreign Corporations


Who may avail of the service : Registrant foreign corporation thru their representatives What are the requirements :

1) Cover Sheet


3) Application Form (AF)

a) F-103 – Stock Branch Office (SBO)

b) F-104 – Stock Representative Office (SRO) c) F-108 – Non-Stock Branch and Representative Office, including Foundations (NBO & NRO)

4) Authenticated copy of the Board Resolution

a) authorizing the establishment of the Branch/Representative Office in the Philippines

b) designating the Resident Agent to whom summons and other legal processes may be served in behalf of the foreign corporation

c) stipulating that in the absence of such Agent or upon cessation of its business in the Philippines, any summons or legal processes may be served to

SEC as if the same is made upon the corporation at its home office

5) Authenticated copy of the Articles of Incorporation/ Partnership / Establishment with an English translation thereof if in a foreign language other than

English

6) Financial Statements (per MC 11 of 2013) a) For those whose home country requires audited financial statements, the applicant shall submit financial statements:

for the immediately preceding year at the time of filing of the application

audited by an independent Certified Public Accountant of the home country

authenticated before the Philippine Consulate/Embassy

If the date of the AFS exceeds the one-year requirement, the applicant shall submit:

Authenticated Audited Financial Statements that are available as of date of filing of the application; and

Authenticated Unaudited Financial Statements (AUFS) as of date not exceeding one (1) year immediately prior to the filing of the applica-

tion signed by an officer of the foreign corporation.

b) For those whose home country does not require audited financial statements, the applicant shall submit:

Authenticated Unaudited Financial Statements as of a date not exceeding one (1) year immediately prior to the filing of the application; and

Authenticated Certification signed under oath by an officer of a responsible regulatory institution or by the applicant’s legal counsel that the ap-

plicant is not required to prepare and submit audited financial statements, with citation of the law or regulation on which it is based. (attach the

print out of the law for verification purposes)

Table of Contents


7) Compliance with Financial Ratios Stock Branch Office

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


10) Residents Agent’s acceptance of appointment (not required if RA is the signatory to the AF)

11) Indorsement/Clearance from appropriate government agencies 12) Additional Requirements for Foundations

a) Notarized Certificate of Bank Deposit of the amount of not less than PhP1M

b) Statement of willingness to allow the Commission to conduct an audit

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


2) Application Form

3) Certification from the Philippine Consulate/Embassy or the Philippine Commercial Office or from the equivalent office of the Philippine DTI in the appli-

cant's home country that said foreign firm is an entity engaged in international trade with affiliates, subsidiaries or branch offices in the Asia Pacific Re-

gion and other foreign markets; in case the Certification is issued by the equivalent office of the DTI, the same shall be authenticated by the Philippine

Consulate/Embassy

4) Authenticated Certification from principal officer of the foreign entity to the effect that the said foreign entity has been authorized by its board of di-

rectors or governing body to establish its RHQ/ROHQ


6) Endorsement of the Board of Investments (BOI)

7) Endorsement/Clearance from appropriate government agencies, if applicable



Liquidity Current Assets/Current Liabilities 1:1

Debt to Equity Total Liabilities/Equity 3:1



Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

1 Applicant presents ALL ac-

complished documentary

requirements for pre-

processing

Assigns the application to

processor 5 minutes Support Staff FIA Form 103 –

SBO

FIA Form 104 –

SRO

FIA Form 108 -

NBO/NRO

RHQ

ROHQ

2 Applicant waits to be

called by the Specialist Specialist pre-processes/

evaluates the application


Securities All documentary

requirements

3 Specialist issues Payment

Assessment Form (PAF) 5 minutes Securities Spe-

cialist Filing Fees (FF):

SBO:


mittance converted into

Philippine currency but not

less than P3,000

SRO:

1/10 of 1% of the actual in-

ward remittance converted

into Philippine currency but

not less than P2,000

NBO & NRO:

P3,000

RHQ:

P5,000

Payment Assess-

ment Form

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

3 ROHQ:


mittance but not less than

1% of peso equivalent of


remittance

Legal Research Fee:

For ALL Applications:

1% of the License Fee but

not less than P50.00 shall be

paid at the time of filing

4 Applicant pays license fees

at the Cashier and files ap-

plication to Receiving Unit,

Corporate Filing and Rec-

ords Division (CFRD)

Cashier

CFRD Support

Staff


from the CFRD, CPRD Sup-

port prepares the License,

and the Securities Specialist

prepares the Checklist of

Requirements , which con-

tains the financial report for

SBO (Checklist)


cialist

License

Checklist

6 FAAD and/or CPRD Assistant

Director(s) evaluates/

reviews the License and oth-

er attached documentary

requirements and initials the

same.

1 hour FAAD and/or

CPRD Assistant

Director(s)

License

Checklist

Table of Contents




stances)

PERSON IN

CHARGE

FEES FORM

7 CRMD Director reviews/signs

the License

30 minutes CRMD Director License

8 Applicant claims the Li-

cense from CFRD

(Official Receipt must be

presented)

CFRD Support

Staff

License

END OF TRANSACTION

Table of Contents


Processing Services for Voting Trust Agreements


Who may avail of the service : Filipino citizen, resident and non-resident aliens, at least 18 years of age What are the requirements :

1) Voting Trust Agreement

2) Secretary’s Certificate reflecting the list of stockholders and their respective assigned trustee 3) Secretary’s Certificate on no intra corporate dispute





circumstances)

PERSON IN

CHARGE FEES FORM

1 Prepares Voting Trust

Agreements

As stated in the basic re-

quirements

2 Submits the Voting Trust

Agreements for pre-

processing.

Checks the documents if

compliant with the Civil Code

provisions on partnership and

other existing laws. If com-

plete, advises registrant to

pay filing fee. If not, advises

applicant to comply with re-

quirements.

5 minutes

Securities

Specialist

3 Pays filing fee thru

cashier’s or manager’s

check SEC Cashier

Prepares Payment Assessment

Form

1 minute SEC Cashier Voting Trust Agreement

fee P500.00/agreement; Plus 1% Legal Research

Fee of not less than

P50.00

Payment Assessment Form/ Official Receipt

4 Files the application to

Receiving Unit, Corpo-

rate Filings and Records

Division (CFRD)


tion by CFRD, the records on

file shall be attached and

transmitted to CPRD for the

generation of the Certificate

of Recording of the Voting

Trust Agreements

10-15 minutes CPRD Staff Printed Certificate of Record-

ing of Voting Trust Agree-

ments

Table of Contents





circumstances)

PERSON IN

CHARGE FEES FORM

5 The Asst. Director will review

the application and forward it

to the CRMD Director for ap-

proval.

15-30 minutes Asst. Director CRMD Direc-

tor

Printed Certificate of Record-


ments and the Voting Trust

Agreements

6 Presents Official Re-

ceipt to Releasing Unit,

CFRD to get the Certifi-

cate of Recording of

Voting Trust Agree-

ments

Sorts Voting Trust Agreements


of Voting Trust Agreements for

release to applicant

Certificate

may be

claimed within

2 days from the

filing of appli-

cation with the

Releasing Unit

CFRD Staff None Signed Certificate of Record-


ments

END OF TRANSACTION

Table of Contents


Actions (Two [2] Party Complaints/Petitions)


Who may avail of the service : Natural or juridical persons or entities authorized by law or a party in interest acting through an attorney-in-fact

(SEC Rules of Procedure, Rule 2-2) What are the requirements :

1) Verified Complaint/Petition (SEC Rules of Procedure, Rule 3-4 and 3-9)

2) Certificate of Non-Forum Shopping (SEC Rules of Procedure, Rule 3-5) 3) Affidavits, Documents, and Other Supporting Documents (SEC Rules of Procedure, Rule 3-14)

4) Monitoring Clearance 5) Docket Fee of Three Thousand Thirty (Php3,030.00) Pesos inclusive of Legal Research Fee (SEC Rules of Procedure, Rule 3-15 in accordance with the

Schedule of Fees forming part of the SEC Rules) How to avail of the service :



circumstances)

PERSON IN

CHARGE FEES FORM

Pre-processing 1 Presents complaint/

petition Receives complaint/

petition for evaluation

5 minutes Support staff Verified Complaint/Petition


2 Assignment for pre-

processing

1 minute CFRD Officer-in-

Charge

3 Pre-processing of the com-

plaint / petition / evalua-

tion of the formal require-

ments if the complaint/

petition is complete

and sufficient in form,

the petition is forward-

ed to the Office of the

Director for the issu-

ance of the Payment

Assessment Form

(PAF) and instructs the

client to pay the

Docket Fee

1 hour 5 minutes

Securities Coun-

sel of the CRMD

Executive Assis-

tant

Payment Assessment Form

(PAF)

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

Pre-processing 3 if the complaint/

petition is incomplete

and insufficient in

form, the complaint/

petition is returned to

the applicant with a

list of requirements not

complied with

5 minutes Executive Assis-

tant Payment Assessment Form

(PAF)

4 Proceeds to the Cashier

for the payment of the

Docket Fee

Receives payment and

issues Official Receipt 15 minutes Cashier Php3,020.00 Official Receipt (OR)

5 Proceeds to the CRMD

Receiving Unit Receives the complaint/

petition and the supporting

documents to be forward-

ed to the Office of the Di-

rector for assignment to

Securities Counsel of the

CRMD

15 minutes CRMD Receiving

Unit

6 Complaint/petition official-

ly filed with the CRMD Complaint/petition is as-

signed a docket number or

case number Assignment of the com-

plaint/petition to a Hearing

Officer (Securities Counsel

of the CRMD)

10 minutes

2 minutes

Executive Assis-

tant

Director

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

Proceedings Before the Hearing Officer 7 Summons to the respond-

ent shall be issued ordering

respondent to file answer

within fifteen (15) days

from service of summons

(SEC Rules of Procedure,

Rule 4-1) if the respondent fails

to answer the com-

plaint/petition within

the days prescribed,

he shall be considered

in default (SEC Rules of

Procedure, Rule 3-12) the complainant may

file a reply (SEC Rules of

Procedure, Rule 3-13)* a rejoinder may be

submitted (SEC Rules of

Procedure, Rule 3-13)* *The filing of a reply and

rejoinder may be disal-

lowed (SEC Rules of Proce-

dure, Rule 3-12)

Within Ten (10)

days from the

date of the fil-

ing of the com-

plaint/petition within ten (10)

days from ser-

vice of the an-

swer

within five (5)

days from re-

ceipt of the re-

ply

Securities Coun-

sel

8 The case shall be set for

conference (SEC Rules of

Procedure, Rule 5-1)

Within ten (10)

days after the

last pleading

has been filed,

or upon the ex-

piration of the

period within

which to file the

reply or rejoin-

der

Securities Coun-

sel

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

Proceedings Before the Hearing Officer 9 Decision rendered / Order

Issued (SEC Rules of Proce-

dure, Rule 6-1)

within thirty (30)

days from sub-

mission for reso-

lution

Securities Coun-

sel

10 Finality of the Decision (SEC

Rules of Procedure, Rule 6-

2) The Decision shall be en-

tered in the Book of Entry

of Judgments (SEC Rules of

Procedure, Rule 6-2)

Within fifteen

(15) days from

notice of the

decision

Executive Assis-

tant

END OF TRANSACTION

Table of Contents


Petition for Correction


Who may avail of the service : Natural or juridical persons or entities authorized by law or a party in interest acting through an attorney-in-fact

(SEC Rules of Procedure, Rule 2-2) What are the requirements :

1) Verified Petition (SEC Rules of Procedure, Rule 3-4 and 3-9)

2) Certificate of Non-Forum Shopping (SEC Rules of Procedure, Rule 3-5) 3) Affidavits, Documents, and Other Supporting Documents (SEC Rules of Procedure, Rule 3-14)

4) Corrected Articles of Incorporation 5) Monitoring Clearance 6) Docket Fee of Three Thousand Thirty (Php3,030.00) Pesos inclusive of Legal Research Fee (SEC Rules of Procedure, Rule 3-15 in accordance with the

Schedule of Fees forming part of the SEC Rules) How to avail of the service :



circumstances)

PERSON IN

CHARGE FEES FORM

Pre-processing 1 Presents petition Receives petition for evaluation 5 minutes Support Staff Verified pe-

tition and

supporting

documents 2 Assignment for pre-processing 1 minute CFRD Officer-

in-Charge

3 Pre-processing of the petition/evaluation of the formal

requirements

if the petition is complete and sufficient in form, the

petition is forwarded to the Office of the Director for

the issuance of the Payment Assessment Form (PAF)

and instructs the client to pay the Docket Fee if the petition is incomplete and insufficient in form,

the petition is returned to the applicant with a list of

requirements not complied with

1 hour 5 minutes

Securities

Counsel of

the CRMD Executive As-

sistant

Payment

Assessment

Form (PAF)

4 Proceeds to the Cashier

for the payment of the

Docket Fee

Receives payment and issues Official Receipt 15 minutes Cashier Php3,020.00 Official Re-

ceipt (OR)

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

Pre-processing 5 Proceeds to the CRMD

Receiving Unit Receives the petition and the supporting documents to

be forwarded to the Office of the Director for assign-

ment to Securities Counsel of the CRMD

15 minutes CRMD Receiv-

ing Unit

6 Petition officially filed with the CRMD Petition is assigned a docket number or case number

Assignment of the petition to a Hearing Officer

(Securities Counsel of the CRMD)

10 minutes

2 minutes

Executive As-

sistant Director

Proceedings Before the Hearing Officer 7 Order Issued (SEC Rules of Procedure, Rule 6-1) within thirty (30)

days from sub-

mission for reso-

lution

Securities

Counsel

8 Finality of the Decision (SEC Rules of Procedure, Rule 6-

2) The Decision shall be entered in the Book of Entry of

Judgments (SEC Rules of Procedure, Rule 6-2)

Within fifteen

(15) days from

notice of the

decision

Executive As-

sistant

END OF TRANSACTION

Table of Contents


Application for Licensing of Financing Companies Head Office/Branch Office (Including replacement of Certificate of Authority due to amendment of corporate name and/or principal office address)


Who may avail of the service : Corporations organized in accordance with the provisions of Republic Act No. 8556 The Financing

Company Act of 1998 What are the requirements :

1) All documents required for registration as a corporation

2) Cover Sheet

3) Application Form

4) Information sheet of registrant company

5) Personal Information Sheet of Directors and Officers

6) For Filipino Directors and Officers: Clearance from the National Bureau of Investigation (NBI)

7) For Foreign Directors and Officers:

a) Photocopy of Alien Certificate of Registration or Immigration Certificate of Registration;

b) Photocopy of passport showing valid visa or stay in the Philippines; and

c) Clearance from the Bureau of Immigration (BI)

8) Clearance from the Bangko Sentral ng Pilipinas, if the applicant is a subsidiary or affiliate of a bank and/or non-bank financial institution with quasi-

banking license

9) Manual on Corporate Governance:

a) If foreign participation in voting stock is more than 40%; or

b) If total assets is PhP50M or more; or

c) If commercial paper issuer, either exempt or registered

10) Manual on Anti-Money Laundering:


b) If total assets is PhP10M or more

11) Board Resolution on the adoption of the Manual/s

12) Format of Disclosure Statement on Loan/Credit Transactions

13) Notarized Bank Certificate of Deposit of the Paid-up Capital

Table of Contents


How to avail of the service : STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF


circumstances)

PERSON IN

CHARGE FEES FORM

1 Presents documents for

evaluation/processing Checks completeness of the

documents and takes the

application to the Assistant

Director (AD)/Officer-in-

Charge (OIC) for assignment


Day Articles of Incorporation

and By-Laws Cover Sheet Application Form Company’s Information

Sheet Personal Information Sheet

of Directors and Officers 2 Assigns the application to a

Specialist

1 minute AD/OIC

3 Records assignment

1 minute Clerk

4 Waits to be called by

the Specialist Processes/evaluates the ap-

plication (In case of deficiency, the

applicant is given a checklist

citing the deficiency; appli-

cation is returned to the ap-

plicant for compliance)

1 hour Specialist

5 Prepares the Memorandum

for the Commission En Banc

1 hour Specialist

6 Reviews the application and

the Memorandum (In case of any finding, the

license and application are

returned to the processor for

appropriate action)

1 hour AD/OIC

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

7 Reviews and approves the

Memorandum and the issu-

ance of Payment Assess-

ment Form (PAF) (In case of any finding, the


returned to Licensing Unit for

appropriate action)

30 minutes Director

8 Pays the assessed fees Issues the PAF 5 minutes Specialist Primary License 1/5 of 1% of the authorized

capital stock or the sub-

scription price of the sub-

scribed capital stock

whichever is higher but not

less than P2,000 + Legal Re-

search Fee (LRF) Secondary License Head Office: 1/10 of 1% of

the paid-up capital + LRF Branch/Agency/ Extension/

Unit: 1/10 of 1% of the capi-

tal of the branch, satellite,

extension or unit + LRF Amendment of Certificate

of Authority Head Office: P500 + LRF Branch Office: P500 + LRF *LRF: 1% of the Registration/

Filing Fee but not less than

P50

PAF

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


documents from the CRMD-

CFRD, re-evaluates the ap-

plication and finalizes the

Memorandum (In case of deficiency, the

applicant is immediately in-

formed)


10 Reviews and initials the

Memorandum (In case of any finding, the



appropriate action)

15 minutes AD/OIC

11 Reviews, signs and forwards

the Memorandum to the En

Banc, through the Supervis-

ing Commissioner (In case of any finding, the



appropriate action)

15 minutes Director

12 Deliberates on/approves the

application (In case of any finding, the

Memorandum and applica-

tion is returned to CRMD for

appropriate action)

30 minutes Commission

En Banc

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

13 Upon receipt of the ap-

proved application from the

En Banc, prepares the Certif-

icate of Authority


14 Reviews and initials the Cer-

tificate of Authority (In case of any finding, the



appropriate action)

10 minutes AD/OIC

15 Claims the Certificate of

Authority Reviews and signs the Certifi-

cate of Authority (In case of any finding, the



appropriate action)

10 minutes Director

END OF TRANSACTION

Table of Contents


Application for Licensing of Lending Companies Head Office/Branch Office (Including replacement of Certificate of Authority due to amendment of corporate name and/or principal office address)


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:


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 :



circumstances)

PERSON IN

CHARGE FEES FORM

1 Presents all documen-

tary requirements for

pre-processing/

evaluation

Checks completeness of the docu-

ments and takes the application to

the Assistant Director (AD)/Officer-in

-Charge (OIC) for assignment

5 minutes Officer of

the Day Registration docu-

ments (i.e., Articles and

By-Laws, Treasurer’s

Affidavit, Undertaking

to Change Name)

Cover Sheet

Application Form

Information Sheet

2 Assigns the application to a Special-

ist 1 minute AD/OIC

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


1 minute Clerk


the Specialist Processes/evaluates the application (In case of deficiency, the applicant

is given a checklist citing the defi-

ciency; application is returned to

the applicant for compliance)


5 Reviews the application and ap-

proves issuance of Payment Assess-

ment Form (PAF) (In case of any finding, the license

and application are returned to the

processor for appropriate action)

30 minutes AD/OIC

6 Pays the assessed fees Issues the PAF 5 minutes Specialist Primary License 1/5 of 1% of the authorized capital

stock or the subscription price of the

subscribed capital stock whichever

is higher but not less than P2,000 +

Legal Research Fee (LRF) Secondary License Head Office: 1/10 of 1% of the paid-

up capital + LRF Branch/Satellite/ Extension/Unit: 1/10

of 1% of the capital of the branch,

satellite, extension or unit + LRF Amendment of Certificate of Au-

thority Head Office: P500 + LRF Branch Office: P500 + LRF *LRF: 1% of the Registration/Filing Fee

but not less than P50

PAF

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

7 Upon receipt of application docu-

ments from the CRMD-CFRD, re-

evaluates the application and pre-

pares the Certificate of Authority (In case of deficiency, the applicant

is immediately informed)


8 Reviews and initials the Certificate

of Authority (In case of any finding, the license



10 minutes AD/OIC


Authority Reviews and signs the Certificate of

Authority (In case of any finding, the license

and application are returned to Li-

censing Unit for appropriate action)

10 minutes Director

END OF TRANSACTION

Table of Contents


Application for Registration of Capital Market Institutions Investment Houses/Underwriter of Securities/Broker Dealer/Broker Only/Dealer Only/Investment Company Advisers/Transfer Agents/Mutual Fund Distributors

(Including amendments)


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 :



circumstances)

PERSON IN

CHARGE FEES FORM


evaluation/ processing

Checks completeness of the docu-


the Assistant Director (AD)/Officer-in-



Day SEC Form MFD

SEC Form 28-BD SEC Form 36-TA SEC Form ICA-IA SEC Form IHU-A SEC Form IH-BO

2 Assigns the application to a Counsel

1 minute AD/OIC


1 minute Clerk


the Specialist Evaluates the application

(In case of deficiency, the applicant is

given a checklist citing the deficien-

cy; application is returned to the ap-


2 hours Counsel/

Specialist

5 Prepares the Memorandum for the

Commission En Banc 1 hour Counsel/

Specialist

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

6 Reviews the application and the

Memorandum (In case of any finding, the license



2 hours AD/OIC

7 Reviews and approves the Memoran-

dum and the issuance of Payment

Assessment Form (PAF) (In case of any finding, the license



2 hours Director

8 Pays the assessed fees Issues the PAF 5 minutes Counsel/

Specialist Mutual Fund Distributor:

P5,000 + LRF Brokers/Dealers (Main Office):

P75,000 + LRF Broker (Main Office): P40,000

+ LRF

Dealer (Main Office): P40,000

+ LRF Broker/Dealer Branch Office:

P10,000 + LRF Investment House/ Underwrit-

er: P75,000 + LRF Investment House/Underwriter

with GSED: P75,000 + LRF Investment House Branch Of-

fice: P10,000 + LRF GSED: P75,000 + LRF

Investment Company Adviser:

P15,000 + LRF

Transfer Agents: P10,000 + LRF

*LRF: 1% of the Registration/

Filing Fee but not less than

P50

PAF

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM



evaluates the application and finaliz-

es the Memorandum (In case of deficiency, the applicant is

immediately informed)

1 hour Counsel/

Specialist

10 Reviews and initials the Memorandum (In case of any finding, the license



1 hour AD/OIC

11 Reviews, signs and forwards the

Memorandum to the En Banc,

through the Supervising Commissioner (In case of any finding, the license



30 minutes Director

12 Deliberates on/approves the applica-

tion (In case of any finding, the Memoran-

dum and application is returned to

CRMD-LU for appropriate action)

30 minutes Commission

En Banc

13 Upon receipt of the approved appli-

cation from the En Banc, prepares the

Certificate of Registration

5 minutes Counsel/

Specialist

14 Reviews and initials the Certificate of

Registration (In case of any finding, the license



30 minutes AD/OIC

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


Registration Reviews and signs the Certificate of

Registration (In case of any finding, the license



30 minutes Director

END OF TRANSACTION

Table of Contents


Application for Registration of Capital Market Professionals Associated Persons/Compliance Officers/Salesmen/Certified Investment Solicitors (Including replacement of Certificate of Registration due to amendment of

corporate name of institution)


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




circumstances)

PERSON IN

CHARGE FEES FORM


evaluation/processing Checks completeness of the docu-


the Assistant Director (AD)/Officer-in-


5 minutes Officer of

the Day SEC Form 28-S

SEC Form 28-AP SEC Form IHU/

GSED-CO-AP SEC Form ICA-CO SEC Form ICA-CIS

2 Assigns the application to a Specialist

1 minute AD/OIC


1 minute Clerk

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


the Specialist Evaluates the application (In case of deficiency, the applicant

is given a checklist citing the deficien-

cy; application is returned to the ap-



5 Reviews the application and ap-

proves issuance of Payment Assess-

ment Form (PAF) (In case of any finding, the license



15 minutes AD/OIC

6 Pays the assessed fees Issues the PAF 5 minutes Specialist Associated Person/

Compliance Officer:

P3,000 + Legal Research

Fee (LRF) Salesman: P2,000 + LRF Certified Investment So-

licitor: P2,500 + LRF Investment Company

Adviser/Compliance

Officer: P3,000 + LRF

*LRF: 1% of the Registra-

tion/Filing Fee but not less

than P50

PAF

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM



evaluates the application and pre-

pares the Certificate of Authority (In case of deficiency, the applicant

is immediately informed)


8 Reviews and initials the Certificate of




10 minutes AD/OIC


Authority Reviews and signs the Certificate of




10 minutes Director

END OF TRANSACTION

Table of Contents


Request for Regular Monitoring of Domestic Corporations (Ordinary Stock and Non-Stock) *Except foundations, publicly listed corporations and corporations with secondary license


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)




circumstances)

PERSON

IN

CHARGE

FEES FORM

1

Provides request form with

checklist

2 mins. Officer of

the Day N/A Request Form with Checklist

2 Submits filled-up “Request

for Monitoring” and the

required documents.

Pre-evaluates required docu-

ments.

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.

10 mins. Officer of

the Day Request Form with Checklist

and required documents.

Table of Contents




circumstances)

PERSON

IN

CHARGE

FEES FORM

3 Prints system generated Doc-

ument Index List (DIL).

5 mins. Support

Staff Document Index List

4 Assigns DIL with attached

documents to a particular

monitor/analyst .

2 mins. Support

Staff

5 Determines compliance, de-

ficiencies and violations,

and prepares the Monitoring

Sheet (MS).

30-45 mins. on

average Monitor Guidelines on the Imposition

of fines or penalties for non-

compliance with reportorial

requirements; Memoran-

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.

Monitoring Sheet

6 Returns on assigned day,

and if is agreeable to the

findings presented, signs

the MS .

Presents the findings to the

applicant. If there are no deficiencies,

the MS prepared by the Moni-

tor will indicate such finding

and will be directly submitted

to the Assistant Director/

Officer-in-Charge for review

and signing. Note: If applicable, clarifica-

tions and further compliance

may be required by the moni-

tor prior to the release of the

MS.

15 mins. Monitor

Table of Contents




circumstances)

PERSON

IN

CHARGE

FEES FORM

7 Prepares and issues the Pay-

ment Assessment Form (PAF).

5 mins. Monitor Payment Assessment Form

8 Pays the assessed fines

Note: Applicant with re-

quest for reduction or pay-

ment in installment of fines,

the procedure for reduc-

tion of fines or payment in

installment will be followed.

Applicant

9 Presents machine-

validated PAF Receives the PAF together

with the other documents

and indicates date of the

release of the Confirmation

of Payment of Fines (COP)

5 mins. Support

Staff PAF

10 Prepares the COP

5 mins. Support

Staff

Confirmation of Payment of

Fines

11 Review and signs the COP or

MS, if without penalty.

If upon review, there are de-

termined deficiencies/

corrections, it will be returned

to the applicant until the

same has been complied

with.

10 mins. Assistant

Director/

Officer-in-

Charge

12 Returns on assigned day Releases the COP and MS

2 mins. Support

Staff

END OF TRANSACTION

Table of Contents


Request for Regular Monitoring of Foreign Corporations (Branch Offices, Representative

Offices , Regional Area Headquarters and Regional Operating Headquarters) *Except foundations


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 :



circumstances)

PERSON IN

CHARGE FEES FORM

1 Provides request form with checklist 2 mins. Officer of

the Day Request form with

checklist 2 Presents filled –up

“Request for Monitor-

ing” and required docu-

ments.

Pre-evaluates required documents. a. If documents are not complete, the

same are returned with the checklist of

the requirements b. If documents are complete the

“Officer of the Day” accepts the request

for monitoring

10 mins. Officer of

the Day

3 Prints system generated Document Index

List (DIL).

5 mins. Support

Staff Document Index

List

4 Determines compliance, deficiencies and

violations, and prepares the Monitoring

Sheet (MS). (Including compliance with Se-

curities Deposit* and Inward Remittance in

case of branch offices, and Regional Oper-

ating Headquarters (ROHQ) and Regional

headquarters (RHQ), respectively)

30 – 45 mins. Monitor Memorandum Circular


(MC15-2006); and

MC8-2009

Monitoring Sheet

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

5 Reviews findings of the Monitor.

15 mins. Specialist/

Counsel

6 If agreeable to the find-

ings presented, signs the

MS.

Presents the findings to the applicant.

Note: If there are no deficiencies, the MS

indicating such finding will be directly sub-

mitted to the Assistant Director/Officer-in-

Charge for review and signing.

10 mins. Monitor

7 Prepares the Payment Assessment Form

(PAF). 5 mins. Monitor Payment Assess-

ment Form 8 Pays assessed fines

Applicant

9 Presents the PAF with

cashier’s validation Receives the PAF together with the other

documents and indicates date of the re-

lease of the Confirmation of Payment of

Fines (COP)

5 mins. Support

Staff

10 Prepares the Confirmation of Payment of

Fines (COP) 5 mins. Monitor Confirmation of

Payment of Fines

11 Reviews and signs the COP or MS, if with-

out penalty.

If upon review, there are determined defi-

ciencies/corrections, it will be returned to

the applicant until the same has been

complied with.

10 mins. Assistant

Director/

Officer-in-

Charge

12 Returns on assigned day Release of the COP and MS. Note: In case of Securities Deposit, the Certifi-

cate of the deposit of securities (Initial, Substi-

tution and Additional) is issued to the foreign

corporation upon compliance.

2 mins. Support

Staff

END OF TRANSACTION

Table of Contents


Process Compliance with Securities Deposit


Who may avail of the service : Foreign Branch Offices (stock corporations) What are the requirements :

1) Copy of latest Certificate of Securities Deposit (if any); and

2) Four (4) sets of the following:

a) Cover Sheet

b) Notarized cover letter requesting for the acceptance of securities deposit signed by the Resident Agent or any authorized representative c) Photocopy of Confirmation of Sale (in case of Treasury Bill) or original copy if Government Bonds d) Original copy of Proof of Earmarking of Treasury Bills in favor of SEC




circumstances)


1 Submits the documen-

tary requirements Checks the completeness of requirements (If documents are incomplete or non-

compliant, the same are returned with the

checklist of the requirements)

10 mins. Monitor

2 Steps 3 to 6 of the monitoring of Foreign Corpo-

rations will be followed.

3 Computes for the required securities deposit

based on its latest due AFS Note: a) In case of foreign airline companies

the Corporation must submit a Modified Formu-

la Computation for the computation of the re-

quired securities deposit (Sec. 5, Memorandum

Circular #2, series of 2012); b) Computation is done simultaneously with the

monitoring of the Foreign branch office.

15 mins. Monitor Memorandum

Circular No. 2,

series of 2012

(MC2-2012)

4 Prepares and issues the Payment Assessment

Form 5 mins. Monitor

Table of Contents



ACTIVITY

(under normal

circumstances)


5 Pays custodian/

monitoring fee

Applicant

6 Prepares report of the securities deposit

10 mins. Monitor

7 Reviews the report of the securities deposit

5 mins. Specialist/ Counsel

8 Prepares and generates Certificate of Securities

Deposit

5 mins. Monitor

9 Reviews the generated Certificate of Securities

Deposit

10 mins. Assistant Director/

Officer-in-Charge

10 Transmits the Certificate of Securities of Deposit

to the Office of the Director for signing

2 mins. Support Staff

11 Transmits the following documents to the Finan-

cial Management Department for safekeeping: AR Bonds

Stock Certificates

Other non-scripless securities

END OF TRANSACTION

Table of Contents


Petition to Lift Order of Revocation/Suspension


Who may avail of the service : Corporations whose certificates of registration were revoked or suspended by the Commission for failure to

comply with the reportorial requirements and whose corporate term has not yet expired

What are the requirements : Pursuant to Memorandum Circular No. 5, series of 2016

1) Verified petition to set aside the Order of Revocation or Suspension

2) Director’s or Trustee’s Certificate

3) Latest due Audited Financial Statements 4) Latest due General Information Sheet

5) Copies of Certificate of Incorporation and latest Certificate of filing of Amended Articles or By-laws (if any) together with latest Articles of

Incorporation and By-laws 6) Copy of registration of stock and transfer book or membership book 7) Secretary’s Certificate of No Intra Corporate Controversy

8) Sworn Certifications by the auditor 9) Proofs of operation for each year, starting from the date of revocation or date of incorporation (for a suspension order) up to the time of the filing

of the petition

10) Payment of penalties/fines imposed after monitoring How to avail of the service :



circumstances)

PERSON IN

CHARGE FEES FORM

1 Presents the request form

and documentary require-

ments

Checks the completeness of require-

ments. If documents are incomplete or non-

compliant, the same are returned with

the checklist of the requirements.

10 mins. Monitor

Request form

with Checklist

and documen-

tary require-

ments

2 Assigns the Petition.

2 mins. Assistant Direc-

tor / Officer-in-

Charge

3 Steps 5 to 7 of the regular monitoring will

be followed

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

4 Pays the Petition Fee and

Legal Research Fee together

with the fines/penalties im-

posed thereon Note: Applicant with request

for reduction or payment in

installment of fines, the pro-

cedure for reduction of fines

or payment in installment will

be followed.

Applicant P3,000 petition

fee plus Legal Research

Fee: 1% of Filing

Fee but not less

than Fifty Pesos

(P50.00) shall be

paid at the time

of filing

5 Dockets the Case

2 mins. Staff

6 Reviews the Petition to lift Order of Rev-

ocation and the attachments


Counsel

7

Prepares the draft Order setting aside

the Order of Revocation or Suspension Note: if applicable, Summons and Clari-

ficatory Conferences may be issued/

held at any time and the process will be

held in abeyance until after the issues

have been settled or complied with.


Counsel

8 Reviews the draft Order 15 mins. Assistant Direc-

tor/ Officer-in-

Charge

Draft Order

9 Reviews and approves the draft order

5 mins. CRMD Director

10 Prepares the final Order 5 mins. Specialist/

Counsel

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

11 Routes the Order to the Commission En

Banc for signing.

5 mins. CRMD Director Final Order

12 The Chairperson and Commissioners

sign the Order

varies Commission En

Banc

13 Receives the Order


14 Prepares the transmittal letter

5 mins. Specialist/

Counsel

15 Reviews the transmittal letter 5 mins. Assistant Direc-

tor / Officer-in-

Charge

Transmittal letter

16 Signs the transmittal letter


17 Mails the Order


END OF TRANSACTION

Table of Contents


Request for Payment in Installment or Reduction of Fines


Who may avail of the service : a) Non-stock corporations for reduction of fines; and b) Stock and Non-stock corporations for installment of fines What are the requirements :

1) Written request for the reduction of fines or payment in installments 2) Copy of the Monitoring Sheet with the final assessment 3) Copy of the latest due Financial Statements




circumstances)

PERSON IN

CHARGE FEES FORM

1 Sends letter requesting for reduction or

instalment payment of fines together

with the attachments.

Applicant

2 Assigns the letter-request.


Officer-in-Charge

3 Reviews the request if it will qualify for re-

duction or installment payment.

15 mins. Assigned Monitor/

Specialist

4 Prepares memorandum to the Commis-

sion En Banc.

However, corporations with Petition to Lift

Order of Revocation/Suspension and re-

questing for payment in installment, the

memorandum will be addressed to the

Supervising Commissioner.


Specialist

5 Reviews and signs the memorandum.


6 Presents the request to the Commission en

banc or Supervising Commissioner as the

case may be, for approval.

Varies En Banc

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

7 Secures a copy of the resolution.

Varies Support Staff

8 Prepares the draft letter Informing the ap-

plicant about the decision of the En banc

or Supervising Commissioner.


Specialist

9 Reviews the draft letter 10 mins. Assistant Director/

Officer-in-Charge

10 Approves and signs the letter


11 Mails the letter


12 Pays the reduced fines or payment of

the first installment. Note: Assigned monitor will check

monthly compliance of the particular

corporation on their staggered pay-

ments.

Steps 7 to 11 of the regular monitoring will

be followed.

Monitor Applicant

13 Returns on assigned day Releases the COP Note: A) For corporations with installment,

Confirmation of Payment is issued only

upon full payment. B) For corporations with petitions to set

aside the Order of Revocation or Suspen-

sion, the COP and the Order granting the

petition shall be withheld until full pay-

ment by of the total fines.


14 Reviews and signs the Confirmation of

Payment.


Officer-in-Charge

15 Releases the Confirmation of Payment.


END OF TRANSACTION

Table of Contents


Monitoring of Corporations where there is more than one set of General Information Sheet (GIS)

filed with the Commission


Who may avail of the service : Transacting Public What are the requirements : None How to avail of the service :



circumstances)

PERSON IN

CHARGE FEES FORM

1 Submits request for monitoring Determines and verifies that there is more

than one set of GIS filed with the Commis-

sion by two or more different groups. Note: Monitoring will be deferred

15 – 30 mins. Monitor N/A N/A

2 Assigns the case 5 mins. Assistant Direc-

tor/Officer-in-

Charge

3 Prepares the Notice for a Clarficatory Con-

ference addressed to the different groups.

10 mins. Assigned Spe-

cialist/ Counsel

4 Representatives from the different

groups answers or appears on the

scheduled conference

5 Determines that there is an existence of an

intra-corporate issue, prepares the draft or-

der recommending that the GIS in question

be marked as disputed. Note: monitoring shall continue to be de-

ferred until the dispute is resolved by appro-

priate courts.

30 mins. Assigned Spe-

cialist/ Counsel

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

6 Reviews the draft order 15 - 30 mins. on

an average Assistant Direc-

tor/Officer-in-

Charge

7 Further reviews, approves and/or signs the

Order

30–45 mins. on

an average but

may vary on

the complexity

of the issue/s

CRMD Director

8 Mails and transmits the Order to the parties,

Corporate Filing and Records Division and

the Electronic Records Management Divi-

sion. The same shall also be entered in the

Certification Issuance System – Unified Ref-

erence Database Note: Monitoring will be deferred


END OF TRANSACTION

Table of Contents


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)




STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY (under normal circum-

stances)

PERSON IN

CHARGE FEES FORM

1 Presents at the Compli-

ance Monitoring Division

(CMD) proof/s of transfer

of certificate/s of owner-

ship in the name of the

transferee corporation

a) Examines certificate/s or

new title/s in the name of

the transferee corporation,

verifying against the original

documents

b) Endorses to the SEC receiv-

ing section if the new titles

are valid and in accordance

with law

Five (5) minutes per certifi-

cate or title

Securities

Counsel/ Securities

Specialist

2 Transferee corporation

presents new certificates

or titles to the SEC receiv-

ing section, with transmit-

tal letter

Receives transmittal letter and

the new titles and certificates of

ownership and forwards to the

CRMD Director.

Receiving

Clerk

Transmittal letter for the Certificates or new titles of

property in the name of the

transferee corporation

stamped received by the

SEC. 3 Forwards certificates or new ti-

tles to CMD for evaluation and

confirmation

Five (5) minute

CRMD Direc-

tor

4 Assigns certificates or new titles

to Securities Counsel/ Securities

Specialist

One (1) minute

Assistant Di-

rector/ Of-

ficer-in-

Charge

Table of Contents


STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY (under normal circum-

stances)

PERSON IN

CHARGE FEES FORM

5 Prepares draft letter/s confirming

that proof/s of transfer of owner-

ship of the property in the name

of the transferee corporation/s

is/are compliant with SEC rules

and regulations.

Fifteen (15) to sixty (60)

minutes or variable de-

pending on the number of

titles and volume of sup-

porting documents to be

examined

Securities

Counsel/ Securities

Specialist

Draft of Confirmation Letter.

6 Reviews draft of confirmation

letter and if sufficient, forwards

to the CRMD Director

Ten (10) to thirty (30)

minutes or variable de-

pending on the number of

titles and volume of sup-

porting documents

Assistant Di-

rector/

Officer-in-

Charge

Final Draft of Confirmation

Letter

7 Approves and signs confirmation

letter

Ten (10) to Twenty (20)

minutes depending on the

number of titles and vol-

ume of supporting docu-

ments

CRMD Direc-

tor Confirmation letter that cor-

poration is compliant with

SEC MC No. 14, series of 2013

duly signed by the CRMD

Director

END OF TRANSACTION

Table of Contents


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)






circumstances)

PERSON IN

CHARGE FEES FORM

1 Presents verified petition for

substitution of payment or

cancellation of the related

application using property as

paid-up capital

Examines petition Stamps OK for payment if Peti-

tion is sufficient in form and

substance

Ten (10) to fif-

teen (15)

minutes

Securities Coun-

sel/ Securities

Specialist

2 Issues Payment Assessment

Form (PAF).

Two (2) minutes

per petition

Executive Assis-

tant or Clerk

under the

CRMD Director

P2,000.00 plus Legal Research Fee:

1% of Filing Fee but

not less than Fifty

Pesos (P50.00) shall

be paid at the time

of filing

PAF

3 Initials PAF Five (5) seconds Securities Coun-

sel/ Securities

Specialist and

Executive Asst.

or Clerk

Initialed PAF

4 Pays the Petition Fee at the

Cashier Issues Official Receipt and ma-

chine validates the PAF with

the amount paid, date and

time of payment

Five (5) seconds

SEC Cashier

Official Receipt issued

to petitioner-

corporation and PAF

machine validated

5 Receives Petition and forwards

to the CRMD Director Five (5) minutes Receiving Clerk

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

6 Assigns to Securities Counsel/

Securities Specialist for appro-

priate action

Ten (10) minutes

CRMD Director

7 Reviews the Petition

Twenty minutes

or variable, de-

pending on the

complexity of

the Petition

Securities Coun-

sel/ Securities Specialist

8 Endorses to Financial Analysis

and Audit Division (FAAD), if

necessary

Thirty (30)

minutes

Securities Coun-


Memorandum to FAAD

9 Evaluates and Prepares Report

on the Petition

One (1) to two

(2) hours, or var-

iable

FAAD Financial

Specialist Report Recommending

Approval or Denial of

the Petition

10 Prepares draft Order on the

Petition based on the merits or

if applicable, per the FAAD

Report

Two (2) to four

(4) hours or vari-

able

Securities Coun-


Draft Order Approving

or Denying the Petition

11 Reviews Draft Order and en-

dorses to the CRMD Director Thirty (30)

minutes Assistant Direc-

tor/Officer-in-

Charge

Draft Order granting or

denying the Petition,

endorsed to the CRMD

Director 12 Reviews and approves the

Draft Order Twenty (20)

minutes

CRMD Director

13 Prepares the approved final

Order together with the trans-

mittal letter

Five (5) minutes Securities Coun-


Final Draft Order grant-

ing or denying the Peti-

tion

Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM

14 Signs and Approves Final Order

and Transmittal letter

Five (5) minutes CRMD Director Order granting or deny-

ing the Petition, duly

signed by the CRMD

Director

15 Petitioner corporation re-

ceives Order* *May appeal, if not satisfied

with the Order to the Com-

mission En Banc (CEB).

Releases Order Five (5) minutes Executive Assis-

tant or Clerk

under the

CRMD Director

Order granting or deny-

ing the Petition, duly

signed by the CRMD

Director and officially

received by Petitioner.

END OF TRANSACTION

Table of Contents


Name Verification Services


Who may avail of the service : The general public thru their representatives What are the requirements :





circumstances)

PERSON IN

CHARGE FEES FORM

1 Secures service number from

guard and fills up Name Veri-

fication Form/Purchase Mon-

ey Stamp

Provides service number on

a first come, first serve basis 1 minute Guard on Duty None Name Verification Form

2 Proceeds to waiting area

and wait for service number

to be called

Inputs proposed company

name in the i-register system 10-15 minutes/

company

name

Name Verification

Officer None Name Verification Slip

3 For DTI registered -Presents DTI Certificate of

Registration -Letter stating the entity in-

tended to convert to a cor-

poration signed by DTI regis-

trant For cancelled DTI Registra-

tion -Presents Certificate of Can-

cellation from DTI

4 Purchases money stamp If proposed company name

is allowed by the system, Issues Reservation Confirma-

tion Form

5 Minutes Name Verification

Officer 40.00/ Month

Table of Contents


STEP APPLICANT/

CLIENT SERVICE PROVIDER DURATION OF


circumstances)

PERSON IN

CHARGE FEES FORM

5 Files letter-appeal with print-

out of the denied name at

the Central Receiving Unit

If the proposed name is dis-

allowed and applicant in-

tends to appeal CRU transmits letter- appeal

to CFRD

10 minutes Records Assistant None

6 Decides letter-appeal. En-

dorses the approved name

to Name Verification Officer

5 minutes Assistant Director None

7 Issues Reservation Payment

Confirmation

5 minutes Name Verification

officer P100

8 Applicant revoked/dissolved

corporation to file Letter-

Appeal addressed to SEC En

Banc at the Central Receiv-

ing Unit (CRU) , with At-

tached

1) Board Resolution/Sec.

Cert. stating that appli-

cant intends to use the

name

2) latest General Infor-

mation Sheet

3) Affidavit of no-intra cor-

porate dispute, and

4) IF WITH PROPERTY, attach

Affidavit with list of prop-

erties; IF NO PROPERTY,

attach Affidavit of no

property.

For Revoked/Dissolved Cor-

porations CRU transmits letter appeal

to CFRD

5 minutes Records Assistant None

9 Prepares Memorandum for

approval of the Commission

En Banc


Table of Contents





circumstances)

PERSON IN

CHARGE FEES FORM

10 Commission En Banc ap-

proves or denies the use of

name

15 minutes Commission En

Banc None

11 If name is approved by the

Commission En Banc Issues Reservation Confirma-

tion Form


Officer 40.00

12 Files letter-appeal at the CRU

with attached

1) Board Resolution/Sec.

Cert. stating that appli-

cant intends to use the

name

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.

For Expired term (re-

incorporation) Receives letter-appeal and Endorses to the Assistant Di-

rector


Officer None

13 Reviews letter appeal and

other attached documents.

Endorses the approved

name to Name Verification

Officer


14 Issues Reservation Confirma-

tion Form


Officer 40.00

END OF TRANSACTION

Table of Contents


Issuance of Certificates of No Derogatory Records/Affirmative/Negative


Who may avail of the service : The general public thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


guard and fill up Certification

Form

Provides service number on

a first come, first serve basis

1 minute Guard on Duty None Certification Form

2 Proceeds to waiting area

and wait for service number

to be called

Records Assistant

3 For: Affirmative Certification

Presents request for certifica-

tion

Verifies application form

and refers applicant

to CMD for issuance of veri-

fication report

10 minutes Monitoring Ana-

lyst

4 CMD verifies status and

compliance of reports of the

corporation. Issues verifica-

tion report

5 minutes Records Assistant

5 Applicant returns to CFRD

and presents application

form with verification report

Issues Payment Assessment

Form

15 minutes Records Assistant P300.00

6 Prepares Certification on

Corporate Filing/Information


7 Reviews Certification


8 Signs Certification


9 Presents receipt of payment.

Acknowledges receipt of

Certification

Releases Certification on



END OF TRANSACTION — FOR AFFIRMATIVE CERTIFICATION

Table of Contents


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

3 For: Negative Certification

Presents request for certifica-

tion


Form


4 Verifies record and

Prepares Negative Certifica-

tion


5 Reviews/Signs Certification 5 minutes Assistant Director

6 Presents receipt of payment.

Acknowledges receipt of

Certification

Releases Certification on



END OF TRANSACTION — FOR NEGATIVE CERTIFICATION

3 For: Certification of No De-

rogatory Information

Receives documents/

Endorses to Records Special-

ist for review


a) If with confirmation of

payment, pays the certifica-

tion fee


Form

5 minutes Records Specialist P500.00

4 Prepares Certificate of No-

Derogatory Record


5 Reviews/Signs Certification 5 minutes Assistant Director

6 Presents OR/

Acknowledges receipt of the

Certification -END OF TRANSACTION-

Releases Certificate of No-

Derogatory Record


3 b) If no confirmation of pay-

ment Applicant corporation shall

be monitored


Pays Certification Fee. Re-

turns the documents to Rec-

ords Specialist (then see

steps 4, 5 & 6)

a) If no penalty, Issues Pay-

ment Assessment Form (then

see steps 4, 5 & 6)

5 minutes Records Specialist P500.00

Pays penalty and certifica-

tion fee (then see steps 4, 5 &

6)

b) If with penalty, Issues Pay-

ment Assessment Form for

penalty and Payment As-

sessment Form for certifica-

tion fee (then see steps 4, 5

& 6)

Records Specialist Penalty variable

END OF TRANSACTION — FOR CERTIFICATION OF NO DEROGATORY RECORD

Table of Contents


Registration of Stock and Transfer / Membership Book


Who may avail of the service : Registrant corporations thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


guard

Gives service number on a

first come, first serve basis

1 minute Guard on duty None

2 Issues Payment Assessment

Form

Stock Corporation

Non-Stock Corporation

1-2 minutes Records Assistant

P150.00

P75.00

3 Returns registration form and

original receipt together with

the book for stamping

Stamps and inputs name of

corporation, date of ap-

proval

2-3 minutes Records Assistant

4 Acknowledges receipt of the

stamped STB/Membership

Book

Releases Stock and Transfer/

Membership Book duly

stamped by SEC

3 minutes Records Clerk None

END OF TRANSACTION

Table of Contents


Receiving of Applications for New Registration (Domestic/Foreign) / Articles of Partnership


Who may avail of the service : Registrant corporations thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

1 Applicant presents docu-

ments to the Receiving Of-

ficer

Checks Payment Assess-

ment Form, Machine Valida-

tion for fees paid. Verifies

type of documents filed,

completeness of documents

and the number of copies

submitted

5 minutes Records Officer None

2 Stamps the first page of

each documents including

FIA Application filed with

“Received.” Affixes his signa-

ture and date. Retains 3 sets

of registration documents

1 minute Records Officer

3 Records in the receiving log-

book the name of applicant

corporation and the type of

documents submitted

1 minute Records Assistant

4 Transmits documents for

registration and other perti-

nent documents to CPRD


5 Acknowledges transfer of

documents after counter-

checking the documents

listed in the logbook

5 minutes CPRD Clerk

END OF TRANSACTION

Table of Contents


Receiving of Applications for Amendment of Articles of Incorporation / By-Laws / Articles of

Partnership/ Articles of Merger and Consolidation

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


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

1 Applicant presents docu-

ments to the Receiving Of-

ficer

Checks Payment Assess-

ment Form, Machine Valida-

tion for fees paid. Verifies

type of documents filed,

completeness of documents

and the number of copies

submitted

5 minutes Records Officer None

2 Stamps the first page of

each set of amended docu-

ments and the Directors’

Certificate with “Received.”

Affixes his signature and

date. Retains 3 sets of

amended documents

1 minute Records Officer

3 Records in the receiving log-

book the name of applicant

corporation and the type of

documents submitted

1 minute Records Assistant

4 Transmits amended docu-

ments for retrieval of records


5 Acknowledges transfer of

documents after counter-

checking the documents

listed in the logbook

5 minutes Computer Opera-

tor

END OF TRANSACTION

Table of Contents


Releasing of Approved Primary Registration / Amendments / Articles of Merger and Consolidation


Who may avail of the service : Registrant/Claimant corporations thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


guard Provides service number on

a first come, first serve basis

1 minute Guard on Duty None None

2 Registrant/Claimant corpora-

tion presents Official Receipt

and service number to Rec-

ords Officer

Retrieves from the shelves of

sorted documents and affix-

es SEC dry seal on claimed

documents

5 minutes Records Clerk

3 Records claimant’s infor-

mation in logbook

Claimant’s Name, type of

document, date approved

and OR number


4 Registrant/Claimant affixes

name and other information

in the logbook

Stamps “RELEASED” in OR,

approval date of document

and date of release. Hands

over to Claimant document

and OR


END OF TRANSACTION

Table of Contents


Data Entry of Applications for Amendment / Articles of Merger and Consolidation and

Retrieval of Records


Who may avail of the service : Registrant/Claimant corporations thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)


1 Receives pre-processed applications for

amendment of Articles of Incorporation

and By-laws/Articles of Merger and Consoli-

dation from the CRMD Receiving Unit

2 Checks payment information (Number of

documents and documents paid for

against amended documents

5-10 minutes Computer Operator None

3 Confirms machine validation for payment

of filing fee

4 Enters the following information in SEC I-

Register - SEC Reg. No./Name/Form Type

and Amount Paid

5 Writes the system-generated Document ID

on the lower portion of the PAF

5 minutes Computer Operator

6 Reproduces documents needed in the pro-

cessing of application for amendments/

merger and consolidation. Transmits to

CPRD/FAAD for preparation of Certificate

of Incorporation

END OF TRANSACTION

Table of Contents


Issuance of Authenticated Copies for Government Agencies


Who may avail of the service : Government agencies thru their representatives What are the requirements :


STEP APPLICANT/

CLIENT


ACTIVITY

(under normal

circumstances)


1 Government

agency

sends letter-

request

Forwards letter request to Assistant Director 5 minutes Director’s Secretary Executive

Assistant

None

2 Assigns letter request to Records Specialist


3 Endorses to SEC Computer Operator for

verification, and printing of records


4 Prints requested documents/records and

prepares rubber stamp for signature

15 minutes SEC Computer Operator

5 Reviews and authenticates the requested

records


6 Prepares endorsement letter for signature

of the Director

5 minutes SEC Clerk

7 Signs the endorsement letter

5 minutes Director

8 Endorsement letter and authenticated

copies are forwarded to the government

agency


END OF TRANSACTION

Table of Contents


Amendment of Article VII of Articles of Incorporation and Other Applications

1. Amendment of Article VII of Articles of Incorporation:

a) Increase of Authorized Capital Stock

b) Decrease of Authorized Capital Stock

i. Thru Return of Capital

ii. All Others

c) Reclassification / Conversion / Change of Par Value of Shares

2. Other Applications:

a) Confirmation of Valuation or Exempt Transaction (Other than Cash Payment on Subscription)

b) Property Dividend Declaration

c) Quasi-Reorganization

d) Equity Restructuring

e) Creation of Additional Paid-in Capital

f) Dissolution of Domestic Corporation


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 :


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE FEES FORM

1.1 Presents application and sup-

porting documents, together with monitoring clearance, for

pre-processing

1) Pre-screens Applications and Assigns

the Processor / Specialist Note: Documents must be complete in

accordance with checklist of require-

ments herein provided. Otherwise the

same shall be rejected.

5 minutes Support Staff None Transaction Slip (Available at the

Guard’s Post)

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

2) Pre-processes application and sup-

porting documents

a) If compliant, the assigned Proces-


forwards the same to the Asst.

Director for review

b) If non-compliant, prepares

checklist of deficiencies

30 minutes to 1

Hour

Specialist None

3) Reviews applications and supporting

documents

3 to 5 Days Asst. Director

None

4) Prepares Payment Assessment Form

(PAF)


Please Proceed to Step 2 -

1.2.1 Presents application and sup-

porting documents, together without monitoring clearance,

for pre-processing

1) Pre-screens Applications and assigns

to the Processor / Specialist

Note: Documents must be complete in




5 minutes Support Staff None Transaction Sli

(Available at the

Guard’s Post)


porting documents


sor forwards the application to

the Asst. Director



1 hour to 3

hours

Specialist

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE FEES FORM

3) Monitors compliance with reportorial

requirements and rules and regula-

tions of SEC a) If assessed without PENALTY, the


application to the Asst. Director

provided the application docu-

ments are compliant (item no. 2)

b) If assessed with PENALTY, Pre-

pares and issues Payment Assess-

ment Form (PAF)

1-2 Hours Specialist

1.2.2 Pays assessed penalties at the

Cashier


Receipt 5 minutes Cashier

1.2.3 Submits the machine-validated

PAF and the application docu-

ments, if compliant (item 2 of

1.2.1), to the Assigned Processor


1) Receives the PAF and application

documents 2) Prepares Confirmation of Payment of

Penalties 3) Attaches the same to the application

documents 4) Prepares and submits final checklist

for review

5 minutes

10 to 15

minutes 1 minute

15 to 20

minutes

Support Staff Specialist


documents Asst. Director


(PAF)

Specialist

2 Pays filing fee at the Cashier Processes payment and Issues Official

Receipt 5 minutes Cashier Please refer to

Annex E

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

3 Submits the machine-validated

PAF to CRMD Receiving Unit to-

gether with the Four (4) sets of

application documents

1) Secures and attaches the PAF to the

application

2) Stamps receive Four (4) sets the ap-

plication documents

3) Returns one(1) copy of the applica-

tion to the client

4) Forwards the application to CFRD



the application

6) Forwards the application to CPRD for

the generation of Certificate

7) Generates Certificate

8) Reviews application

9) Approves and signs application doc-

uments and certificate, respectively.


3 minutes

1 minute

1 minute

End of the day

10 to 15

minutes

5 minutes

30 Minutes

5 minutes

Support Staff

(Receiving

Officer)

Support Staff

(CFRD)

Support Staff

(CPRD)

Asst. Director

Director

Support Staff

(Office of the

Director)

None


CRMD Releasing Unit, to claim

the approved Certificate of In-

crease, Decrease, Amended Ar-

ticles of Incorporation

Sorts/Releases the Certificate of In-

crease/Decrease of Authorized Capital

Stock and Certificate of Filing of Amend-

ed Articles of Incorporation and/or By-

laws with all pertinent documents


(Releasing)

END OF TRANSACTION

Table of Contents


Merger/Consolidation


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 :


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE FEES FORM

1.1 Presents application and support-ing documents, together with

monitoring clearance, for pre-

processing

1) Pre-screens Applications and Assigns to

FAAD Processor / Specialist

Note: Documents must be complete in ac-

cordance with checklist of requirements

herein provided. Otherwise the same shall

be rejected.

5 minutes Support Staff None Transaction Slip (Available at

the Guard’s Post)

2) Pre-processes application and support-

ing documents

a) If compliant, the assigned Processor

prepares final checklist to be for-

warded to FAAD Asst. Director after

compliance with CPRD’s require-

ments.

b) If non-compliant, prepares checklist

of deficiencies

3) Forwards to CPRD

4) Assigns application to CPRD Processor /

Specialist


ing documents


prepares final checklist and forwards

the same to FAAD


of deficiencies

6) Prepares and submits final checklist for

review

2 – 3 Hours

5 minutes 5 minutes

30 minutes to 1

hour

30 minutes

FAAD Spe-

cialist Support Staff Support Staff CPRD Spe-

cialist FAAD Spe-

cialist

None

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


documents

1 to 2 hours Assistant Di-

rector

None


(PAF)

5 minutes FAAD Spe-

cialist


1.2.1 Presents application and support-ing documents, together with


processing

1) Pre-screens Applications and Assigns to

FAAD Processor / Specialist

Note: Documents must be complete in ac-

cordance with checklist of requirements

herein provided. Otherwise the same shall

be rejected.



ing documents


prepares final checklist to be for-

warded to FAAD Asst. Director after

compliance with CPRD’s require-

ments.


of deficiencies

3) Forwards to CPRD

4) Assigns application to CPRD Processor /

Specialist


ing documents


prepares final checklist and for-

wards the same to FAAD


of deficiencies

2 – 3 Hours

5 minutes

5 minutes

30 minutes to 1

hour

FAAD Spe-

cialist

Support Staff

Support Staff

CPRD Spe-

cialist

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


requirements and rules and regulations

of SEC

a) If assessed without PENALTY, the


application to the Asst. Director pro-

vided the application documents

are compliant (item no. 2)

b) If assessed with PENALTY, Prepares

and issues Payment Assessment

Form (PAF)

1 to 2 hours FAAD Spe-

cialist


Cashier

Processes payment and Issues Official Re-

ceipt

5 minutes Cashier

1.2.3 Submits the machine-validated

PAF and the application docu-

ments, if compliant (item 2 of

1.2.1), to the Assigned Processor


1) Receives the PAF and application doc-

uments 2) Prepares Confirmation of Payment of

Penalties 3) Attaches the same to the application

documents 4) Prepares and submits final checklist for

review

5 minutes

10 to 15 minutes

1 minute

30 Minutes

Support Staff FAAD Spe-

cialist


documents

1 to 2 hours Assistant Di-

rector (CPRD)


(PAF)

5 minutes FAAD Spe-

cialist

2 Pays filing fee at the Cashier Processes payment and Issues Official Re-

ceipt

5 minutes Cashier

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE FEES FORM

3 Submits the machine-validated

PAF to CRMD Receiving Unit to-

gether with the Four (4) sets of



application

2) Stamps receive Four (4) sets the appli-

cation documents

3) Return one(1) copy of the application

to the client


5) Verifies and produces applicant’s rec-

ord which shall be attached to the ap-

plication

6) Forwards the application to CPRD for

the generation of Certificate

7) Generates Certificate


9) Approves and signs application docu-

ments and certificate, respectively.


3 minutes

1 minute

1 minute

End of the day 10 to 15

minutes

5 minutes

30 Minutes

5 minutes 30 minutes

10 minutes

Support Staff

(Receiving

Officer) Support Staff (CFRD) Support Staff (CPRD) Asst. Director Director Support Staff (Office of the

Director)

None

4 Presents Official Receipt to CRMD

Releasing Unit, to claim the ap-

proved Certificate of Increase,

Decrease, Amended Articles of

Incorporation

Sorts/Releases the Certificate of Increase/

Decrease of Authorized Capital Stock and

Certificate of Filing of Amended Articles of

Incorporation and/or By-laws with all perti-

nent documents

5 to 15 minutes Support Staff (Releasing)

END OF TRANSACTION

Table of Contents


Cash or Stock Dividend Declaration


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 :


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

1.1 Presents application and supporting documents, together with monitoring

clearance, for pre-processing

1) Pre-screens Applications and As-

signs of to the Processor / Specialist





5 minutes Support

Staff

None Transaction Slip

(Available at the

Guard’s Post)


porting documents

a) If compliant, the assigned Pro-

cessor prepares final checklist

and forwards the same to the

Asst. Director for review



30 Minutes to 1

Hour

Specialist None


(PAF)

5 minutes Specialist PAF


1.2.1 Presents application and supporting documents, together without monitor-

ing clearance, for pre-processing

1) Pre-screens Applications and As-

signs to the Processor / Specialist





5 minutes Support

Staff

None Transaction Slip

(Available at the

Guard’s Post)

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM


porting documents


cessor forwards the application

to the Asst. Director



30 Minutes to 1

Hour

Specialist None

3) Monitors compliance with reportori-

al requirements and rules and regu-

lations of SEC







pares and issues Payment As-

sessment Form (PAF)

1 to 2 hours FAAD Spe-

cialist

1.2.2 Pays assessed penalties at the Cashier Processes payment and Issues Official

Receipt

5 minutes Cashier

1.2.3 Submits the machine-validated PAF 1) Prepares Confirmation of Payment

of Penalties

2) Attaches the same to the applica-

tion documents

3) Prepares Payment Assessment

Form (PAF) for filing fee, if compli-

ant

4) Returns the document application

5 to 10 minutes

1 minute

15 to 20 minutes

PAF


Receipt

5 minutes Cashier

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

3 Submits the machine-validated PAF

(Filing Fee) to CRMD Receiving Unit to-

gether with the Four (4) sets of applica-

tion documents

1) Secures and attaches the PAF to

the application

2) Stamps receive Four (4) sets the


3) Returns one(1) copy of the appli-

cation to the client




the application

6) Forwards the application to FAAD

for the preparation of Acknowl-

edgement Letter

7) Reviews and signs Acknowledge-

ment Letter

1 to 3 Days None PAF

4 Presents Official Receipt to the Counter

Officer

1) Receives official receipts

2) Releases Acknowledgement Re-

ceipt

5 minutes

5 Minutes

Support

Staff

(Counter

Officer)

Support

Staff

(CPRD)

END OF TRANSACTION

Table of Contents


Certification of Capital Structure / Percentage of Ownership


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 :


ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

1.1 Presents application and support-ing documents, together with mon-

itoring clearance, for pre-

processing


to the Processor / Specialist





5 minutes Support Staff None Transaction Slip

(Available at the

Guard’s Post)


porting documents



forwards the same to the Asst. Di-

rector for review

b) If non-compliant, prepares check-


30 Minutes to 1

hour

Specialist None


(PAF)

5 minutes Specialist PAF


1.2.1 Presents application and support-ing documents, together without


processing


of to the Processor / Specialist






Table of Contents




circumstances)

PERSON IN

CHARGE FEES FORM


porting documents


cessor forwards the application

to the Asst. Director



30 Minutes to 1

hour

Specialist


requirements and rules and regula-

tions of SEC







pares and issues Payment Assess-

ment Form (PAF)

3 to 4 Hours Specialist


Cashier


Receipt

5 minutes Cashier

1.2.3 Submits the machine-validated PAF

and the application documents, if

compliant (item 2 of 1.2.1), to the

Assigned Processor

1) Prepares Confirmation of Payment of

Penalties

2) Attaches the same to the applica-

tion documents


(PAF) for filing fee

5 to 10 minutes

1 minute

15 to 20 minutes


Receipt

5 minutes Cashier Please see

Annex E

Table of Contents



ACTIVITY

(under normal

circumstances)

PERSON IN

CHARGE

FEES FORM

3 Submits the machine-validated PAF

to CRMD Receiving Unit together

with the application documents, if

compliant (item 2 of 1.2.1), to the

Assigned Processor thru the Coun-

ter Officer


application

2) Prepares final checklist, retrieves rec-

ords and generates certification


4) Approves and signs certification

1 to 2 days None PAF

4 Presents Official Receipt to the

Counter Officer

1) Receives official receipts

2) Releases Certification

5 Minutes

5 Minutes

Support Staff

(Counter Of-

ficer)

Support Staff

(CPRD)

END OF TRANSACTION

Table of Contents


Information and Communications Technology Department

1) Formulates the SEC Information Systems Strategic Plan (ISSP) and coordinates activities relative to the implementation thereof;

2) Undertakes procurement planning, acquisition, and deployment of the Commission’s Information and Communications Technology (ICT)

resources in accordance with the SEC-ISSP;

3) Leads and facilitates application systems development activities, including the administration, maintenance and promotions of the systems

developed and deployed application systems;

4) Performs capacity planning activities and administers the network and communications infrastructure of the Commission including estab-

lishment of linkages between the SEC Head Office and Extension Offices;

5) Ensures the proper maintenance of the computer and network facilities of the Commission;

6) Participates in inter-agency electronic linkages and data-sharing arrangements;

7) Preserves the integrity of SEC electronic data;

8) Updates the database entries relative to amendments to the capital structure/contributed capital of SEC registered companies

9) Receives reports and other written communications (mails and walk-in) and releases SEC documents, except applications processed and

approved by the Company Registration and Monitoring Department;

10) Maintains archives and manages electronic copies of documents submitted by registered companies;

11) Coordinates with other departments/offices in the disposal of records in accordance with Philippine law and SEC policy;

12) Provides information of registered companies to SEC internal and external users;

13) Authenticates corporate/partnership documents based on electronic records;



1) Request for Listings

2) Request for copy/copies of documents

3) Receiving of documents

4) Releasing of documents/correspondence from operating departments

Table of Contents

Information and Communications Technology Department P a g e 293

Request for Listings



1) 2)

3) Official Receipt (OR) to be issued by cashier upon payment




stances)


1 Fills-up request form and

submits to ICTD

Evaluates request 30 minutes to fill-up the

form

Support Staff Request for ICTD

Information services

2 Presents request form Assesses request, prepares

and prints Payment Assess-

ment Form (PAF)

5 minutes to generate Support Staff Listing of Top 5000

corporations (basic

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

Payment Assess-

ment Form (PAF)

Table of Contents




stances)


3 Proceeds to Cashier to pay

assessed fee Accepts payment and issues

Official Receipt 5 minutes Cashier

4 Presents request form and

the payment/receipt Transmits the request form

and PAF to System Develop-

er

Due 15 working days

from receipt of request

and PAF

System Developer

5 Generates data requested

and assesses total payment

due

6 Returns to the ICTD to get

the document Checks record of requested

data if ready for releasing

and prepares PAF for addi-

tional payment


7 Proceeds to Cashier if ad-

ditional payment is re-

quired

Accepts payment and issues

Official Receipt 5 minutes Cashier

8 Presents payment/receipt

and gets documents Releases data requested 15 minutes Support Staff

END OF TRANSACTION

Table of Contents


Request for Copy/Copies of Document/s




1)

2)

3)

Option 2 — For delivery





stances)


1 Calls SEC Express Hotline

no. 737-8888 OR goes

online at

www.secexpress.ph

to schedule an appoint-

ment and prints Appoint-

ment Form received

through e-mail

Call center agent receives

call and gets required client

information.

Note: Maximum of 3 docu-

ments per appointment

Third Party Service

Provider/Call center

agent

N/A

2 Proceeds to SEC Public

Reference Unit (PRU) on

the scheduled date and

time and presents printout

of appointment form to the

Appointment Verifier at the

entrance

Verifies the client’s appoint-

ment schedule and ID, then

stamps the appointment

form with time of “in”

2 minutes Service Provider Staff Printout of Appoint-

ment Form


Table of Contents




stances)


3 Presents Appointment

Form to Information Coun-

ter and fills out Paper Re-

quest Form and/or Film Re-

quest Form

Verifies availability of the

requested document in

iView. If unavailable, refers the client to Film counter.

5-8 minutes Front desk Staff Paper/Film Request

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


ment Form (PAF)

2 minutes SEC Support Staff PAF

6 Proceeds to Cashier to pay

corresponding fees


sues Official Receipt (O.R.)

5 minutes Cashier OR

Table of Contents


Option 2— For delivery



stances)


7 Returns to PRU and pre-

sents PAF with OR

Paper – prints documents

using pinmailer

Film – releases document to

client

5 minutes

1 minute

Retrieval Officer

8 If authenticated – Pro-

ceeds to designated Au-

thentication Officer/s

Checks, verifies complete-

ness, stamps and signs docu-

ments and releases docu-

ment to client

3-8 minutes Authentication Of-

ficer

9 Surrenders Appointment

Form to Guard Stamps the form with time of

“out”

` Guard on Duty

END OF TRANSACTION—Option 1



stances)


1 Calls SEC Express Hotline

no. 737-8888 OR goes

online at

www.secexpress.ph

to order for delivery

Call center agent receives

call and gets required client

information; Service Provider

receives online requests, as-

sesses fee, and sends pay-

ment instructions to client

Third Party Service

Provider

Fees and charges are

the same with docu-

ments for pick up, but

with additional charge

for courier delivery

2 Checks email for payment

instructions, then proceeds

to the nearest payment

center to pay the assessed

fee

Partner payment center re-

ceives payment; issues O.R./

payment confirmation

-do-

3 Confirms payment with

SEC Express

Prints manifest for all paid

requests and distributes

printing assignments to Re-

trieval Officers/Contract of

Service (COS) personnel

3-10 minutes -do-


Table of Contents




stances)


4 Views, verifies, prints and

tags assigned requested

documents

3-5 minutes/doc Retrieval Officer/COS

personnel

5 Prepares PAF 2-5 minutes/request -do-

6 On behalf of the client, the

third party service provider

proceeds to the Cashier

and pays the fees, then

presents OR to PRU

Issues OR 5-15 minutes Cashier

7 If authenticated, checks,

verifies completeness,

stamps and signs docu-

ments, then releases docu-

ments to the third party ser-

vice provider

2-3 minutes/doc Authentication of-

ficer

8 Tags and transmits docu-

ments to courier for delivery

5-30 minutes Third Party Service

Provider

9 Receives delivered docu-

ments

Delivers documents Within 24-36 working

hours (3-3.5 working

days)

Third Party Service

Provider— Partner

Courier

END OF TRANSACTION—Option 2

Table of Contents


Receiving of Document/s (Reports/Reportorial Requirements — i.e. General Information Sheet and

Audited Financial Statement; documents other than reports — i.e. correspondences, etc.)


Who may avail of the service : General Public What are the requirements : If reports/reportorial requirements, bring 4 sets/copies. Otherwise, no other requirements needed. How to avail of the service :

1. Walk-in submission of reports/reportorial requirements

2. Online submission of reports/reportorial requirements

3. Walk-in delivery of correspondences and other documents

Option 1— Walk-in submission of reports/reportorial requirements



stances)


1 Client proceeds to the

Central Receiving and Re-

leasing Unit, Ground Floor,

SEC Bldg. or at any Satellite

Office; gets queue number

and waits to be called

Calls on the client’s number Receiving Officer None None

2 Presents 4 sets/copies of

the documents

Encodes document, prints

barcode page, and at-

tached barcode page to

each copy

3 minutes/doc -do-

3 Claims 1 set for his file

copy, including the ac-

knowledgment receipt

(barcode page)

Retains 3 sets including origi-

nal and returns 1 set to client 1 minute -do-

END OF TRANSACTION

Table of Contents


Option 2 — Online submission of reports/reportorial requirements



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

Partner Courier and pre-

sents 4 sets/copies of the

documents for submission

Assesses fees either for:

a) submission only; or

b) submission with a return

copy

2 minutes/doc Partner Courier staff Fees and charges will

vary depending on the

type of submission, and

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-

ing number against mani-

fest; sorts documents ac-

cordingly, whether submis-

sion only or submission with a

return copy; then transmits

documents to SEC Head Of-

fice

5 minutes Third Party Service

Provider

END OF TRANSACTION—Option 2 (if submission only)

5 Waits for return copy Encodes, prints and attach-

es barcode page, then re-

turns client’s copy to SENS

representative/third party

service provider

2 minutes /doc Receiving Officer/

COS personnel

6 Issues OR and processes

documents with return copy

for dispatch, then transmits

to courier for delivery

4-7 minutes Third Party Service

Provider

7 Delivers to client Within 24-36 working hours

(3-3.5 working days)

Partner Courier

http://www.sens.secexpress.ph

Table of Contents


Option 3 — Walk-in delivery of correspondences and other documents



stances)


1 Presents letters/

correspondence/

documents other than re-

portorial requirements

Receives and encodes doc-

ument in iSubmit Module

and prints 2 barcode pages;

returns receiving copy to

client

2 minutes/doc Receiving Office/

COS personnel

None None

2 Checks physical copy

against Batch List, then

transmits to Micrographics

Unit for scanning

3-5 minutes -do-

3 Scans documents 3 minutes/doc Scanner Operator

4 Transmits to concerned de-

partment

Afternoon of the same

day/Morning of the

following day

END OF TRANSACTION

Table of Contents


Releasing of Documents




1. Release through Post Office Mailing

2. Release through Courier Mailing

Release through Post Office Mailing

Release through Post Office Mailing



stances)


1 Receives documents from operating

department/office

6 minutes Releasing Officer /

Staff

2 Sorts and weighs mail documents,

places Registry Barcode number stick-

ers on the following: 1 sticker on enve-

lope, 1 sticker on Registry receipt, 2

stickers on dept. transmittal receipts

4 minutes/doc -do-

3 Transmits mail documents to Greenhills

Post Office Approx. 40 mins -do-

END OF TRANSACTION



stances)


1 Receives documents from operating

department/office

1 minute Releasing Officer /

Staff

2 Records documents in Courier logbook 5 minutes -do-

3 Transmits document to courier staff 2 minutes -do-

END OF TRANSACTION

Table of Contents


Economic Research and Training Department

1) Coordinates the formulation and monitoring of the agency’s strategic and operational plans;

2) Prepares the agency’s inputs to government plans and related reports/updates;

3) Prepares materials on the policies, plans, programs, and accomplishments of the SEC for reporting to government oversight agencies ( eg.

DBM, DOF, NEDA, Congress);

4) Publishes the SEC Annual Report;

5) Acts as the focal SEC department in implementing infomercials and conducting education programs for the external public;

6) Acts as the focal SEC department on matters pertaining to performance governance and quality management programs;

7) Coordinates with SEC department the formulation and implementation of the annual research agenda of the Commission;

8) Coordinates statistical compilation activities and represents the Commission in inter-agency activities on statistical concerns;

9) Provides technical support to inter-agency activities and coordination on matters relating to multi-lateral, regional and bilateral internation-

al trade and economic partnership agreements on financial services;

10) Coordinates the conduct of capacity building programs for capital market participants;

11) Administers certification examinations for capital market participants;

12) Coordinates with foreign donors on the implementation of SEC capacity building projects/activities as assigned by the Commission en

banc;



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

Table of Contents

Economic Research and Training Department P a g e 304

Request for Copy of the SEC Publication of the Philippines’ Top Corporation


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



stances)


1 Files the request:

a) In person to the Eco-

nomic Research and Train-

ing Department (ERTD) at

the West Wing, G/F Secre-

tariat Bldg, PICC Complex,

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-

[email protected]

Receives request and assess-

es its nature to determine

which data is exactly need-

ed:

a) If the 2014 edition cover-ing FY 2013 financial op-

erations is needed, ex-

plains to the client the

appropriate fees/

charges, then prepares

and issues PAF

b) If old issues/publications,

refers the client to the

SEC Library

2-5 minutes Economic Research

and Statistics Division

(ERSD) Officer of the

day

a) Main report; narra-

tive (in pdf form)

and 13 schedules

(in Excel form)

a.1) in PDF format - P3,000.00

a.2) in pdf/Excel

format - P5,000.00

b) Directory

b.1) In PDF format - P5,000.00

b.2) In MS Excel for-

mat - P10,000.00

2 Pays the assessed fee at

the cashier


sues OR

20 minutes Cashier OR / PAF

3 Returns to ERTD and pre-

sents machine validated

PAF and OR to claim the

report, then acknowledges

receipt

Releases the report in elec-

tronic copy contained in CD

-ROM, then records transac-

tion in the ERSD logbook

Within 5 minutes ERSD officer of the

day

END OF TRANSACTION



Table of Contents


Request for Certification of Ranking in the Philippines’ Top Corporation


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



stances)


1 Files the request:

a) In person to the Eco-

nomic Research and Train-

ing Department (ERTD) at

the West Wing, G/F Secre-

tariat Bldg, PICC Complex,

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-

[email protected]

Validates/checks the list of

Top Corporations, then noti-

fies the client whether or not

included in the list. If includ-

ed, issues the PAF for the

Certification Fee

Within 1 hour Economic Research

and Statistics Division

(ERSD) Officer of the

day

P300.00 — certification

fee

PAF

2 Pays the assessed fee at

the cashier


sues OR

20 minutes Cashier OR / PAF


sents machine validated

PAF and OR to claim the

certification, then acknowl-

edges receipt

Records OR details, prepares

and releases the certifica-

tion, then records transac-

tion in the ERSD logbook

Within 10 minutes ERSD officer of the

day

Certification of

Ranking

END OF TRANSACTION



Table of Contents


Registration for Certification Seminar


Who may avail of the service : Prospective Associated Person (AP) and Prospective Certified Securities Representatives (CSR) What are the requirements : Fully accomplished registration form from the respective participants How to avail of the service :

1) Download the appropriate form and accomplish the same. Please follow this link to view the form:

http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/ 2) Submit the accomplished form together with your registration fee at the West Wing, Ground Floor, Secretariat Building, PICC Complex, Pasay



stances)


1 Submits registration form Accepts registration form


ment Form (PAF)

5 minutes Training Staff Registration form

and PAF

2 Pays the registration fee at

the SEC Cashier Receives payment and is-

sues Official Receipt (OR) 20 minutes Cashier P7,500.00 (AP)

P5,500.00 (CSR)

*the fees include

P 500 examination fee.

PAF and Official

Receipt (OR)


sents validated PAF and

OR

Advises the participant

about the schedule of semi-

nar

5 minutes Training Staff PAF/OR

END OF TRANSACTION

http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/

Table of Contents


Registration for Regular and Special Examination


Who may avail of the service : Prospective Associated Person (AP) and Prospective Certified Securities Representatives (CSR), Prospective Mutual Funds (MF) and Fixed Income (FI) Salesman What are the requirements : Fully accomplished registration form from the respective participants How to avail of the service :

1) Download the appropriate form and accomplish the same. Please follow this link to view the form:

http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/ 2) Submit the accomplished form together with your registration fee at the West Wing, Ground Floor, Secretariat Building, PICC Complex, Pasay



stances)


1 Submits registration form Accepts registration form


ment Form (PAF)

5 minutes Training Staff Registration form

and PAF

2 Pays the registration fee at


sues Official Receipt (OR) 20 minutes Cashier P2,500.00 (FI first time

takers)

P500.00 (CSR and MF

first time takers)

P500.00 (per AP mod-

ule)

P500.00 (retake)

PAF and Official

Receipt (OR)



OR

Informs the examinee of the

schedule of examination 5 minutes Training Staff PAF/OR

END OF TRANSACTION

http://www.sec.gov.ph/services-2/capital-market-professionals-3/certification-examination-and-results/

Table of Contents


Releasing of Congratulatory Letters


Who may avail of the service : Those who passed the Examination for Associated Person (AP), Certified Securities Representatives (CSR), Mutual Funds (MF), and Fixed Income (FI) Salesman What are the requirements : Authorization Letter if a representative will claim the congratulatory letter

How to avail of the service : Examinees can claim their congratulatory letter/s by way of personal appearance or through their authorized

representative.



stances)


1 Proceeds to the ERTD Of-

fice for personal appear-

ance. Authorized repre-

sentative submits authori-

zation letter addressed to

ERTD Director.

Locates and photocopies

the document/s

3-5 minutes Training Staff None

2 Receives congratulatory

letter; signs the receiving

copy

Files the receiving copy

signed by the examinee or

their authorized representa-

tive

3 minutes -do- Congratulatory Let-

ter

END OF TRANSACTION

Table of Contents


Reprinting of Congratulatory Letters


Who may avail of the service : Those who passed the Examination for Associated Person (AP), Certified Securities Representatives (CSR), Mutual Funds (MF), and Fixed Income (FI) Salesman What are the requirements : Authorization Letter if a representative will claim the congratulatory letter

For data correction: (1) Request letter addressed to ERTD Director; (2) Original Congratulatory letter For reprinting (in case of loss): (1) Request letter addressed to ERTD Director; (2) Photocopy of 2 valid IDs; (3) Affidavit of loss

How to avail of the service : Examinees can claim their congratulatory letter/s by way of personal appearance or through their authorized

representative, who shall present an endorsement/authorization letter signed by the examinee



stances)


1 For data correction, client

presents the requirements

stated above.

For reprinting (in case of

loss), client presents the

requirements stated

above.

Verifies the records and re-

prints the letter.

Verifies the records, pre-

pares the PAF, then prints

the document and marks it

as “Certified True Copy”

3 minutes

3 minutes

Training Staff None

P300.00

Congratulatory Let-

ter

PAF

2 Pays the required fee at


sues OR

20 minutes Cashier PAF/OR



OR, then signs the receiv-

ing copy

Files the receiving copy

signed by the examinee or

their authorized representa-

tive

3 minutes Training Staff Congratulatory Let-

ter

END OF TRANSACTION

Table of Contents


Student Orientation/Educational Visit


Who may avail of the service : Universities/Colleges What are the requirements : Request Letter addressed to the Chair signed by an authority of the university/college How to avail of the service :



stances)


1 Submits request letter by

personal appearance or

through phone call, fax, or

email.

Transmits the request letter

to the ERTD Director and

Assistant Director of the

Training Division

5 minutes Office of the Chair-

person Staff None Request Letter

2 Waits for advise from the

Training Division

Receives the request letter

from the Office of the Chair-

person, then checks the cal-

endar of activities to verify

when the request may be

accommodated

3 minutes Office of the ERTD

Director

3 Confirms the request

through phone call and via

e-mail, addressed to the

School Coordinator

10 minutes Training Staff

4 Prepares a memo ad-

dressed to the concerned

department for the request

of resource person/s and

preparation of appropriate

office order.

10 minutes -do-

END OF TRANSACTION

Table of Contents


Human Resource and Administrative Department

1) Implements CSC law, rules and regulations, in matters of recruitment and selection, training and staff development, scholarship grants, per-

formance management, merit promotion, employee welfare, and administrative disciplinary actions;

2) Manages the activities of the Medical and Dental Unit in providing health care to SEC employees;

3) Conducts Human Resource (HR) policy research;

4) Implements internal and external communications system such as publication of newsletter, SEC Circulars, Vacant Positions and other publi-

cations as may be assigned from time to time;

5) Coordinates with the Office of the Commission Secretary on media relation matters;

6) Manages SEC Library;

7) Provides timely and effective administrative and general services support to the departments and offices of the Commission;

8) Provides administrative support and assistance in the procurement process of the SEC in accordance with Republic Act No. 9184 and its

Implementing Rules and Regulations (IRR) and other applicable laws and rules;

9) Reviews and submits SALN of employees to appropriate agencies;

10) Manages the Citizen’s Charter and monitors compliance with the Anti-Red Tape Act of 2007 (ARTA) (Republic Act No. 9485);

11) Plans and implements Gender and Development (GAD) programs;

12) Plans and implements Senior Citizen related concerns;

13) Administers the Internship Program;



1) Library Services: Reference Queries (Phone-in, Walk-in, E-mail)

2) Access to Library Resources (Room Use Reading)

3) Photocopying/Printing Services

4) Circulation Services

5) Issuance of Bid Documents

6) Routine Queries Related to Procurement (Phone-in, Walk-in)

7) Issuance of Notice of Award

8) Issuance of Notice to Proceed

9) Posting of Performance Security (For Surety Bond and For Manager’s Check/Cash)

10) Release of Perfected Contracts/Purchase Orders/Work Orders

Table of Contents

Human Resource and Administrative Department P a g e 312

Library Services — Reference Queries

Schedule of availability of service : Monday to Friday, except holidays and during its periodic inventory, 8:00 AM to 5:00 PM

Who may avail of the service : General Public What are the requirements : None How to avail of the service :



stances)


1 Client phones-in through

584-5994/584-0923 loc 253

Client e-mails in queries

through the

[email protected]

Client walks-in and asks

library personnel for queries

Proceeds with reference in-

terview and fills out Client

Assistance Form

1 minute Library Specialist /

Library Assistant None Client Assistance

Form

2 Validates inquiry, availability

of information, and mode of

delivery, as per necessary.

3 minutes -do- None

3 Provides material or infor-

mation, if available. Provides

alternatives and recommen-

dations.

1 minute -do- None

END OF TRANSACTION


Table of Contents


Library Services — Access to Library Resources (Room Use Reading)





stances)


1 Proceeds to the catalog or

the computer database

for access to library collec-

tion.

Asks assistance from the

library personnel for materi-

al/s needed or other refer-

ence inquiries

Provides assistance in the

use of the catalog or the

computer database, as

necessary.


terview. Validates inquiry

and availability of infor-

mation.

2 minutes

1 minute

Library Specialist /

Library Assistant None

2 Fills out Client Assistance

Form

Locates and provides need-

ed material/s; answers refer-

ence queries

2 minutes -do- None Client Assistance

Form

3 Proceeds to reading area Provides follow-on assistorial

service to the client, as nec-

essary

1 minute -do- None

END OF TRANSACTION

Table of Contents


Library Services — Photocopying/Printing Services





stances)


1 Locates material for print-

ing/photocopying



al/s needed.

Receives material for print-

ing/photocopying from cli-

ent



and availability of material.

Locates and provides need-

ed material/s.

2 minutes

1 minute


Library Assistant Client Assistance

Form

2 Fills out Photocopying Slip Validates photocopying/

printing request is within

copyright Fair Use Policy.


Form (PAF).

Proceeds to prepare re-

quest.

5 minutes -do- Payment Assess-

ment Form (PAF)

3 Proceeds to Cashier Receives payment and is-

sues OR

5 minutes Cashier P5.00 per page

4 Upon payment, presents

proof of payment, and

submits the validated PAF

Fills out Client Assistance

Form and turns over the re-

quested documents

1 minute Library Specialist /

Library Assistant Client Assistance

Form

END OF TRANSACTION

Table of Contents


Library Services — Circulation Services


Who may avail of the service : SEC Employees (regardless of employment status) What are the requirements : SEC Employee ID, Note of Authorization if borrowing for someone else How to avail of the service :



stances)


1 Proceeds to the catalog or

the computer database

for access to library collec-

tion.



al/s needed or other refer-

ence inquiries

Provides assistance in the

use of the catalog or the

computer database, as per

necessary.



and availability of infor-

mation.

2 minutes

1 minute


Library Assistant None

2 Locates and provides need-

ed material/s; answers refer-

ence queries. Fills out Client

Assistance Form.

2 minutes -do- Client Assistance

Form

3 Fills out Book Card and re-

ceives material Provides follow-on assistorial

service to the client, as nec-

essary.

1 minute -do- Respective materi-

al’s book card

4 Stamps due date on book

card. Record and files the

book card and records

transaction in the Borrower’s

Logbook

2 minutes -do-

5 Returns or renews material

after two weeks 1 minute -do-

END OF TRANSACTION

Table of Contents


Issuance of Bid Documents

Schedule of availability of service : Monday to Friday, except holidays, 8:00 AM to 5:00 PM

Who may avail of the service : Prospective Bidders/Vendors/Suppliers What are the requirements :

1) Payment for the Bidding Documents

2) Letter of Intent (for Consultancy projects)

3) Proof of Invitation/Letter of Intent (for projects to be undertaken thru Negotiated Procurement/Consultancy) How to avail of the service :



stances)


1 Approaches anyone from

the Procurement Division

(PD)

Issues Order of Payment 1 minute PD Staff None Order of Payment

Form

2 Fills out Order of Payment

Form and submits to the

Procurement Specialist


Form (PAF) 5 minutes Procurement Spe-

cialist Payment Assess-

ment Form (PAF)

3 Pays for the Bidding Docu-

ments at the Cashier’s Of-

fice


sues OR 10 minutes Cashier P500.00-P10,000.00

4 Presents Official Receipt

(OR) to Project Facilitator Photocopies the OR and

issues the Bidding Docu-

ments

2 minutes Project Facilitator

END OF TRANSACTION

Table of Contents


Routine Queries (Phone-in, Walk-in)



*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



stances)


1 Asks the Procurement Divi-

sion (thru phone/personal) Answers queries/refers the

queries to the facilitator/s of

the project*

5 minutes** PD Personnel/

Project Facilitator

None None

END OF TRANSACTION

Table of Contents


Issuance of Notice of Award


Who may avail of the service : Winning Bidder What are the requirements : Identification Card/Any proof of authorization to receive the document

How to avail of the service : Visit the Procurement Division at HRAD, 4th Floor, SEC Bldg., EDSA Greenhills, Mandaluyong City



stances)




(PD)

Prepares the Notice of

Award (NOA) for release 1 minute PD Staff/

Project Facilitator

None None

2 Signs in the logbook and

the receiving copy of NOA Releases NOA 3 minutes -do-

END OF TRANSACTION

Table of Contents


Issuance of Notice to Proceed






stances)




(PD)

Prepares the Notice to Pro-

ceed (NTP) for release 1 minute PD Staff/

Project Facilitator

None None


the receiving copy of NTP

Releases NTP 3 minutes -do-

END OF TRANSACTION

Table of Contents


Posting of Performance Security


Who may avail of the service : Bidders/Vendors/Suppliers What are the requirements : None




stances)


For Surety Bond



(PD)

For Surety Bond:

Receives the bond and files

with other pertinent docu-

ments of the project

2 minutes PD Staff/

Project Facilitator

None None

END OF TRANSACTION

For Manager’s Check/Cash

1 Approaches the Procure-

ment Specialist Issues Payment Assessment

Form (PAF)

1 minute Procurement Spe-

cialist None Payment Assess-

ment Form

2 Pays the bond/deposits the

check in the Cashier Office Receives payment and is-

sues OR

10 minutes Cashier Depends on the Ap-

proved Budget of the

Contract (ABC)

OR

3 Presents the Official Re-

ceipt to PD Photocopies the Official Re-

ceipt for documentation 1 minute PD Staff/

Project Facilitator

None None

END OF TRANSACTION

Table of Contents


Release of Perfected Contracts/Purchase Orders/Work Orders






stances)




(PD)

Prepares the perfected con-

tract/purchase order (PO)/

work order (WO)

1 minute PD Staff/

Project Facilitator

None None


the receiving copy

Releases the contract/PO/

WO 1 minute -do-

END OF TRANSACTION

Table of Contents


Financial Management Department

1) Prepares and submits the Commission’s budget documents and financial reports to oversight agencies;

2) Allocates, processes, and releases SEC funds to different programs, projects and activities (PAPs);

3) Processes and releases payments and claims to, and remittances for all SEC employees and creditors;

4) Collects all SEC income from its clientele and deposits the same to the National Treasury on the following working day;

5) Serves as custodian of promissory notes of registered commercial paper issuers and deposit substitutes of multinationals and other foreign

corporations doing business in the Philippines;

6) Pre-audits all disbursements as to accuracy and compliance with rules and regulations on disbursements;

7) Confirms GSIS loan applications;

8) Reconciles subsidiary ledgers against the general ledger;

9) Manages and operates the Provident Fund;

10) Processes requests for refunds of filing fees, and application/utilization and transfer of payments of the same corporation as recommended

by the operating departments;

11) Processes requests for authentication of official receipts;



1) Purchase of PIN Mailer

2) Purchase of Service Stamps

3) Payment of Fees for Registration Transaction

4) Payment of Fees for Non-Registration Transaction

Table of Contents

Financial Management Department P a g e 323

Purchase of PIN Mailer


Who may avail of the service : Walk-in public clients/customers What are the requirements : Fully accomplished Purchase Order Slip (POS) and payment How to avail of the service :



stances)


1 Gets priority service num-

ber and fills-up completely

the Purchase Order Slip

(POS)

5 seconds Guard on duty

(cashier area) Purchase Order Slip

(POS)

2 Waits for the queuing num-

ber to be served

No definite time for it

depends on the num-

ber of transactions of

the clients being

served

3 Pays to the cashier with

completely filled-up POS Processes payment and is-

sues official receipt (OR) to-

gether with the PIN Mailer

8 minutes Cashier P100.00 each

END OF TRANSACTION

Table of Contents


Purchase of Service Stamp


Who may avail of the service : Walk-in public clients/customers What are the requirements : Payment How to avail of the service :

Payment of Fees for Registration Transaction


Who may avail of the service : Filer/s or company representative/s What are the requirements : Payment Assessment Form (PAF) and payment How to avail of the service :



stances)


1 Pays directly to the cashier

without need of priority ser-

vice number and POS


sues service stamp

2 seconds Cashier P100.00 each service

stamp

END OF TRANSACTION



stances)



ber


(cashier area) None


ber to be served Processes payment by en-

coding the PAF number in

the SEC i-Report Cashiering

Module. If in order, issues

official receipt, and returns

the machine-validated PAF

to the client

5 minutes Cashier Depends on type of

transaction

PAF

3 Returns to the concerned

department

END OF TRANSACTION

Table of Contents


Payment of Fees for Non-Registration Transaction


Who may avail of the service : Company representative/Payer What are the requirements : Payment Assessment Form (PAF) and payment How to avail of the service :



stances)



ber


(cashier area) None


ber to be served No definite time for it

depends on the num-

ber of transactions of

the clients being

served

Cashier

3 Pays to the Cashier with

PAF form issued by the

concerned operating de-

partment

Processes payment by en-

coding the PAF number in

the SEC i-Report Cashiering

Module. If in order, issues

official receipt, and returns

the machine-validated PAF

to the client

5 minutes -do- Depends on type of

transaction

PAF

4 Returns to the concerned

department

END OF TRANSACTION

Table of Contents


ANNEXES

Table of Contents


ANNEX A MUTUAL FUND DISTRIBUTOR

CHECKLIST OF REQUIREMENTS

1) Cover Sheet

2) Application Form

3) Application (and supporting documents) for:

a) at least 1 Compliance Officer/Associated Person; and

b) at least 1 Certified Investment Solicitor

4) Cover letter, signed by the President, identifying the: Names

Certificate of Registration Numbers

Tax Identification Numbers of the applicant’s CIS

5) Photocopy of the current Distribution Agreement between the ICA/MFD and the applicant

certified by the AP/CO

valid for the whole licensing year

6) Written undertaking containing the conditions set by the SEC (with format)

signed by an authorized officer of the applicant

under oath

7) Amended Written Supervisory Procedures to include procedures under the Distribution Agreement

8) Monitoring Clearance from appropriate Department/Division, if applicable

9) Others

Notes: Submit original + 3 copies

Use size A4 bond paper

All documents executed abroad should be authenticated by the Philippine Embassy or Consular Office

Only applications which are complete and compliant in form and substance shall be issued the Payment Assessment Form

Table of Contents


ANNEX B BROKER DEALER IN SECURITIES


1) Cover Sheet

2) Application Form (SEC Form 28-BD/28-BDA)


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


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

Table of Contents


ANNEX B BROKER DEALER IN SECURITIES (continuation)

12) Detailed description of Organizational and Functional charts, the names and designations of the officers, including branch offices

13) If applicant is a corporation, certified copy of the following documents:

signed by the Corporate Secretary

under oath

a) With respect to a foreign corporation, certificate that the Board of Directors has authorized, in a resolution, the President and Corporate Secretary to sign

an irrevocable consent to service of process upon the Commission as service to the corporation

b) Articles of Incorporation indicating that the purpose of the applicant is to engage in the business of a Broker Dealer

c) Board Resolution attesting to particulars contained in the application

16) Business Plan regarding proposed and/or current operations, including projected volume of business; should reflect applicant’s ability & plans to engage in profit-

able level of business

17) A yearly schedule/timetable on the implementation of the training program for the staff, which specifies, among others,

the description of the training program

date of implementation

name of participants

in accordance with SRC Rule 30.2 D

18) If the applicant is not a member of or participant in an SRO, or has not applied for such membership or participation therein, a written undertaking that he will be-

come a member or participant in an SRO in the near future

19) List of the

Board of Directors,

Officers, &

Employees

identifying respective positions

signed by the applicant’s President

20) Manual on Corporate Governance

21) Manual on Anti Money Laundering

22) Risk Management Manual and Internal Control Procedures

23) Business Continuity and Disaster Recovery Plan

24) Comprehensive Information Technology Plan

25) Board Resolution on the Adoption of the Manuals

26) Copies of proposed contract of any activities or services that are being outsourced

27) All documents required for incorporation/ Filing of Amended Articles of Incorporation/Certificate of Increase in Capital Stock


Notes:

Submit original + 3 copies




Table of Contents


ANNEX C

INVESTMENT HOUSE/INVESTMENT HOUSE engaged in dealing Government Securities / UNDERWRITER OF SECURITIES engaged in

dealing Government Securities


1) Cover Sheet

2) Application Form (IHU/IHU-A)


a) at least 1 Compliance Officer; and


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

Table of Contents


ANNEX C

INVESTMENT HOUSE/INVESTMENT HOUSE engaged in dealing Government Securities / UNDERWRITER OF SECURITIES engaged in

dealing Government Securities (continuation)

16) For foreign applicants: Verification that the applicant has an EKB license from the BSP

A copy the favorable 2nd endorsement from the BSP if the applicant has an EKB license, trust investment management & quasi banking functions

& is a subsidiary of a bank

17) NBI Clearance of Directors and Officers






23) Others

Notes:





Table of Contents


ANNEX D

INVESTMENT COMPANY ADVISER


1) Cover Sheet

2) Application Form (ICA-IA)


a) at least 1 Compliance Officer; and


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


11) Where applicant has been in existence for more than one year, certified copies of Income Tax Returns for the two years preceding 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




19) Proof of financial capacity of stockholders



22) Others

Notes:





Table of Contents


ANNEX E

APPLICATION TYPE CHECKLIST OF REQUIREMENTS FILING FEE

I. Amended Articles of Incorporation (Art. VII)

Increase of Capital Stock Basic Requirement:

1) Cover Sheet

2) Certificate of Increase of Capital Stock

3) Treasurer’s Affidavit

4) Amended Articles of Incorporation

5) Director’s Certificate

6) Notarized List of Stockholders of record as of date of meeting approv-

ing the increase certified by the Corporate Secretary

7) Notarized Secretary’s Certificate on no pending case of intra-

corporate dispute

8) Notarized Secretary’s Certificate on waiver of non-subscribing stock-

holders

Additional Requirements depending on the Mode of Payment:

A. Cash Payment:

1) Subscription Contract. Except:

a) listed companies

b) Public companies defined in the Securities Regulation Code

c) companies that offer or sell securities to the public

d) where the payment to the subscription to the increase is more than FIFTY MILLION PESOS (P50,000,000.00)

Otherwise:

2) Special Audit Report in accordance with Memorandum Circular No.

6 Series of 2008: Guidelines on On-site Verification; or

3) Audited Financial Statements as of the last fiscal year stamped re-

ceived by BIR and SEC if cash payments on subscription to the in-

crease were reflected therein

A. Corporation with Par Value

Filing fee for Increase of Capital Stock -

1/5 of 1% of the increase in capital stock or the sub-

scription price of the subscribed capital stock

whichever is higher but not less than P3,000; plus

Legal research fee – 1% of the amount of filing fee;

plus

Amended Articles of Incorporation – P1,000 plus LRF

b. Corporation without Par Value


1/5 of 1% of the increase in capital stock comput-

ed at P100 per share or the subscription price of

the subscribed capital stock whichever is higher

but not less than P3,000; plus

Legal research fee – 1% of the amount of filing fee


Table of Contents


ANNEX E



Increase of Capital Stock B. Conversion of Liabilities / Advances into Equity

1) Special Audit Report in accordance with Memorandum Circular No.

6 Series of 2008: Guidelines on On-site Verification

2) Deed of Assignment of Advances

C. Stock Dividend

1) List of stockholders as of record date, if date is other than the date of

stockholders meeting

2) Notarized Secretary’s Certificate certifying that on the basis of the

computation of the Finance Officer, the allocation of stock dividend

as indicated in the list of stockholders of record is in proportion to the

shareholdings of stockholders as of date of declaration / record date

and the treatment of resulting fractional shares (if any) are true and

correct

3) Reconciliation of Retained Earnings in accordance with Memoran-

dum Circular No. 11 of 2009

4) Notarized Secretary’s Certificate of the Board Resolution as to the re-

versal of appropriated retained earnings to unappropriated, if appli-

cable

D. Real Property in the form of Land/ Building / Condominium

1) Detailed schedule of real property showing its registered owner, loca-

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







plus










Table of Contents


ANNEX E



Increase of Capital Stock 6) Mortgagee/creditor’s certification on the outstanding loan balance

and creditor’s written consent to the transfer of the property to the

Corporation (if property is mortgaged)

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-

er of the land)

8) Affidavit of undertaking by an officer of the corporation to submit

proof of transfer within the prescribed period

E. Untitled Lands

F. Shares of Stock

1) Detailed Schedule of the shares of stock indicating the stockholder,

stock certificate number, number of shares held and the basis of the

transfer value (Market or Book Value)

2) Audited Financial Statements of the investee company as of the last

fiscal year duly stamped received by BIR and SEC

3) Deed of Assignment of shares of stock to the corporation

4) Certification by the Corporate Secretary of the investee company

that the shares are outstanding in the name of the assignor

5) Photocopy(ies) of the stock certificate (present original for verifica-

tion)

6) Latest market quotation in the newspaper or certification from the

stock exchange / broker as to the latest market price of the shares of

stock (if same are listed in the stock exchange)

7) Affidavit of undertaking to submit the required proof of transfer within

the prescribed period







plus










Table of Contents


ANNEX E



Increase of Capital Stock G. Inventories / Furniture / Personal Properties

1) Detailed schedule of property showing its description and the basis of

transfer value (market value or value)

2) Special audit report by an independent CPA on the verification and

valuation or property, if transfer value is based on book value

3) Appraisal report by a licensed appraiser, if transfer value is based on

market value (not more than 6 months old)

4) Deed of Assignment of property to the corporation

5) Affidavit by transferor that the property is existing and in good condi-

tion

H. Motor Vehicles

1) Detailed schedule of the motor vehicles showing the registered own-

er, make/model, plate number, chassis number, motor number,

certificate of registration number and market value

2) Photocopy(ies) of certificate of registration and official receipt of an-

nual registration fee (present original for verification)

3) Appraisal report by a licensed mechanical engineer (not than 6

months old)

4) Deed of Assignment of motor vehicles to the corporation

5) Affidavit of undertaking by an officer of the corporation to submit the

required proof of transfer within the prescribed period

I. Heavy Equipment and Machineries

1) Detailed schedule of the property showing its description and the

transfer value

2) Appraisal report by a licensed mechanical engineer (not more than 6

months old). If the property is imported, valuation report by the

Bangko Sentral ng Pilipinas should be submitted instead

3) Deed of Assignment of Property to the Corporation







plus










Table of Contents


ANNEX E



Increase of Capital Stock J. Sea Vessel/Aircraft

1) Detailed schedule of vessel/aircraft showing registered owner, registry

number, technical description and appraised value certified by the

company accountant.

2) Certified true copy of the certificate of ownership

3) Appraisal report by authorized appraiser (not more than 6 month old)

4) Certificate of seaworthiness / airworthiness issued by appropriate

government agency

5) Deed of Assignment


required proof of transfer within the prescribed period.

K. Intangibles

1) Photocopy of System Purchase Agreement or any proof of ownership

(for software)

2) Copy of Certificate of Registration of Intellectual Property Rights and

mining permit for mining claims / rights

3) Appraisal report by an accredited appraisal company or by a li-

censed Filipino mining engineer for mining claims / rights (not more

than 6 months old)

4) Deed of Assignment

5) Affidavit of undertaking by an officer of the company to submit proof

of transfer of ownership within the prescribed period

L. Net Assets (by way of conversion of single proprietorship / partnership

into corporation or by spin off)

1) Audited Financial statements (AFS ) of the applicant corporation as

of the last fiscal year stamped received by BIR and SEC

2) Audited Financial statements of single proprietorship / partnership /

division of corporation (for spin-off) as of the last fiscal year

3) Long-form audit report of item no. 2

4) Deed of Assignment of the assets and liabilities







plus










Table of Contents


ANNEX E



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)


required proof of transfer within the prescribed period.

Decrease of Authorized

Capital Stock 1) Cover sheet

2) Certificate of Decrease of Capital Stock



5) List of stockholders of record before and after the decrease certified

under oath by the Corporate Secretary


ceived by BIR and SEC

7) Long-form audit report of item no. 5 (if it involves return of capital)

8) Publisher’s affidavit (once in a newspaper of general circulation)

9) Notarized Secretary’s Certificate on pending intra-corporate dispute

A. Return of Capital – P5,000

B. All Others – P3,000

Plus Legal research fee – 1% of the amount of filing

fee

Reclassification / Conver-

sion / Change of Par Value 1) Director’s Certificate


3) List of stockholders before and after the reclassification / conversion /

change in par value

4) Notarized Secretary’s Certificate on pending intra-corporate dispute



P2,000


fee

Table of Contents


ANNEX E


2. Other Applications

a) Confirmation of Valua-

tion or Exempt Transaction

Note: for additional issu-

ance of shares with Pay-

ment on Subscription is

other than Cash)

Basic Requirements:

1) SEC Form 10.1 or Letter requesting for valuation

2) Secretary’s Certificate on BOD’s resolution re: approval of additional

issuance of shares

3) List of stockholders with their nationalities, amount subscribed and

paid-up and subscribers to the new shares certified under oath by

the Corporate Secretary

Additional Requirements:

Please refer to the list of additional requirements for Increase in Au-

thorized Capital Stock depending on the mode of payment.

1/5 of 1% of the value of shares of stock to be is-

sued but not less than P3,000


fee

b) Property Dividend Dec-

laration 1) Cover Sheet

2) Certification under oath by the Corporate Secretary on the board of

directors resolution’ declaring the property dividend



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

1/5 of 1% of the amount declared but not less than

P5,000


fee

Table of Contents


ANNEX E



c) Quasi Re-organization 1) Cover Sheet

2) Letter requesting approval to undergo quasi- reorganization


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-


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


corporate dispute

d) Equity Restructuring 1) Cover Sheet

2) Letter requesting approval for the creation of additional paid-in capi-

tal

3) Certification under oath by the Corporate Secretary on the Board of

Directors resolution approving the creation of additional paid-in capi-

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


corporate dispute



A. To wipe out existing deficit

P5,000


fee

Table of Contents


ANNEX E



e) Creation of Additional

Paid-in Capital 1) Cover Sheet

2) Letter requesting approval for the creation of additional paid-in capi-

tal

3) Certification under oath by the Corporate Secretary on the Board of

Directors resolution approving the creation of additional paid-in capi-

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


corporate dispute



1/5 of 1% of the amount infused but not less than

P5,000


fee

f) Dissolution 1) Cover Sheet



4) Audited financial statements (AFS) as of last fiscal year, except –

i. Where the applicant has ceased operations for at least one

(1) year, it shall submit:

a) Audited Financial Statements as of last fiscal year

of operation; and

b) Affidavit of non-operation certified under oath by

the President and Treasurer

ii. Where the applicant has no operation since incorporation,

it shall submit:

a) Balance Sheet certified under oath by the Treas-

urer and President

b) Affidavit of non-operation certified under oath by

the President and Treasurer

c) Certificate of non-registration issued by the BIR

A. Stock Corporations

P1,000

B. Non-Stock Corporations

P500


fee

Table of Contents


ANNEX E



f) Dissolution iii. Where the applicant is a stock corporation with paid-up of

less than P50,000, it shall submit its Balance Sheet as of last

preceding fiscal year certified under oath by the Presi-

dent and Treasurer.

iv. Where the applicant is a non-stock corporation with gross

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-

ceding fiscal year certified under oath by the President

and Treasurer

5) Certification executed under oath by the President and Treasurer cer-

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


corporate dispute

A. Stock Corporations

P1,000

B. Non-Stock Corporations

P500


fee

Table of Contents


ANNEX E


III. Merger and Consolidation

Merger of Consolidation 1) Cover Sheet

2) Articles of Merger/Consolidation

3) Plan of Merger

4) List of stockholders of record of the constituent corporations indicat-

ing their nationalities and respective subscribed and paid-up capital

as of date of meeting approving the merger/consolidation certified

under oath by the Corporate Secretary

5) Certification by the Corporate Secretary on the meeting of the Direc-

tors and stockholders of the constituent corporations approving the

merger/consolidation

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-

cation in accordance with PFRS 3 (Accounting Standard on Business

Combination)

7) Long-form audit report of item no. 6 (for absorbed corporation)

8) Certification under oath by any of the President, Chief Finance Officer

or Treasurer of the constituent corporations stating that all the credi-

tors as of cut-off date were informed

9) Publisher’s Affidavit of the merger or consolidation, if one or more of

the constituent corporation(s) is/are insolvent

10)Notarized Secretary’s Certificate on no pending case involving intra-

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.

A. In merger, in case of simultaneous filing of appli-

cation for increase of authorized capital stock of the

surviving corporation

1/5 of 1% of the equity of the absorbed corporation/

s but not less than P3,000

Filing fee for increase in capital stock or the filing fee

for merger whichever is higher but not less than

P3,000

B. In consolidation where the total equity of corpo-

rations is different from authorized capital stock of

the consolidated corporation

1/5 of 1% of total equity of the constituent corpora-

tions or the filing fee for Articles of Incorporation

whichever is higher


fee

Table of Contents


ANNEX E


IV. Cash or Stock Dividend Declaration

Cash Dividend 1) Cover Sheet


directors resolution declaring cash dividend



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)


7) Secretary’s Certificate re: no intra-corporate dispute

Cash / Stock Dividend Declaration up to P50,000

declared by the corporation whose securi-

ties are not listed

P500.00

Cash / Stock Dividend Declaration over P50,000

declared by the corporation whose securi-

ties are not listed

P1,000


fee

Stock Dividend 1) Cover Sheet

2) Certification under oath by the Corporate Secretary on the declara-

tion stock dividends by majority of the directors and the stockholders

representing 2/3 of the outstanding capital stock.



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


9) Secretary’s Certificate re: no intra-corporate dispute

Table of Contents


ANNEX E


V. Certification of Paid-up Capital / Capital Structure / Percentage of Foreign Equity

Certification of Paid-up

Capital / Capital Struc-

ture / Percentage of For-

eign Equity

1) Request for Certification

2) Audited financial statements as of the last fiscal year Stamped re-


3) List of stockholders with their respective subscribed and paid-up certi-

fied under oath by the Corporate Secretary


corporate dispute

5) Interim Audited Financial Statements stamped received by SEC, if the

additional cash infusion came in after the Balance Sheet date

P1,000