CEBU CITY, Philippines—Despite the enhanced community quarantine imposed in Cebu City due to the ongoing coronavirus 2019 pandemic, work continues for the Securities and Exchange Commission-Cebu Extension Office (SEC-CEO).
The SEC-CEO no longer accepts walk-in transactions but it still continues to accept applications for initial review, such as registrations and amendments, among others, through electronic mail, according to an emailed press release.
“Cebu City is placed under enhanced community quarantine, but our office commits to continually serve the public. Our work from home arrangements ensures that we still get our jobs done. We hold remote videoconferences twice a day and we also make sure to monitor the accomplishment reports of employees,” said Atty. Alma Marie Dalena, SEC Cebu officer-in- charge.
The SEC company registration system (CRS) remains online for clients who wish to register a corporation with five or more incorporators.
The system allows for the full automation and online pre-processing of the registration of corporations and partnerships, as well as licensing of foreign corporations.
To register online, an applicant may log onto https://crs.sec.gov.ph/. The applicant can then verify its proposed company name, generate its articles of incorporation, bylaws and other company registration documents. All required documents for processing, review and approval could also be uploaded through the CRS.
Once the applicant completes the online application, a scanned copy of the online generated application can be emailed to seccebu@sec.gov.ph for initial review.
Meanwhile, for transactions such as amendments, registration of One Person Corporation (OPC), registration of corporations with two to four incorporators; petitions; increases in authorized capital stock; and other transactions that require a personal appearance, clients must send their documents to seccebu@sec.gov.ph for initial review.
Further instructions will be communicated to clients through email while Cebu is still under enhanced community quarantine.
Also, the commission has not provided an extension for the submission of the General Information Sheet (GIS), but corporations may submit their reports through alternative methods such as courier services or email. The public can access SEC Memorandum Circular No. 9 and SEC Memorandum Circular No. 10 for guidelines on how to submit reports via email.
However, SEC has extended the deadline for the filing of Audited Financial Statement (AFS) to June 30, 2020 for ordinary stock and non-stock corporations whose fiscal year ended in November 30, 2019 or December 31, 2019.
Meanwhile, SEC-CEO has temporarily suspended its public information seminars in order to avoid any mass gatherings.
Although the office has adopted work from home arrangements, a skeletal workforce comes in and out of the office daily to provide the back office needs of those working from home.
The SEC also continues to accept requests for monitoring or proof of compliance of reportorial requirements. To make a request for monitoring, clients may send a scanned copy of their latest GIS and AFS to seccebu@sec.gov.ph.
“Our office is always ready to serve our clients, stakeholders, and constituents through remote communication methods. Please bear with us during this time because we are doing everything we can to prevent the further spread of the virus.” Dalena added.
For additional inquiries, the public may contact the SEC Cebu Extension Office by emailing seccebu@sec.gov.ph or calling any of the following numbers: (032) 416 9339, (032) 412 7091, or (032) 253 5337.
And, for the latest updates and information on SEC preventive measures to help corporations cope with the COVID-19 pandemic, please visit www.sec.gov.ph, /Irene R. Sino Cruz###