SEC Chairperson Emilio Aquino
MANILA — The Securities and Exchange Commission (SEC) is lending more support to national efforts to combat the coronavirus disease 2019 (Covid-19) pandemic.
In its most recent initiative, the Commission transferred a total of PHP2 billion from its accounts to the Bureau of the Treasury to augment the government’s war chest in tackling Covid-19.
The SEC made the contribution in accordance with Section 4(v) of Republic Act 11469 or the Bayanihan to Heal as One Act and a Department of Finance directive.
The Commission has been proactively responding to the public health emergency that later escalated into a national emergency, in line with the President’s directives and the provisions of the Bayanihan to Heal as One Act.
Among others, the SEC has extended regulatory relief to corporations and other entities under its supervision by moving statutory deadlines and easing requirements and procedures.
It has likewise sustained the delivery of services to its stakeholders, including enforcement efforts against unscrupulous members of the corporate sector.
“A pandemic that has brought the world to a standstill, disrupted businesses and livelihoods, and caused the loss of lives calls for a collective response from all sectors,” SEC Chairperson Emilio Aquino said in a statement Tuesday.
Aside from supporting other government agencies on the front lines, Aquino said they have worked on strengthening the corporate sector, capital market and investing public, which are crucial in the resilience of the economy and the Filipino people.
To minimize the disruption brought about by the Covid-19 pandemic in the corporate sector, the SEC immediately adopted alternative work arrangements in its offices across the country.
The SEC also activated a help desk manned by designated employees from every department or office and scaled up its information, education and communication program with the help of traditional and new media to attend to the concerns of its stakeholders.
Moreover, a dedicated webpage was created for announcements and issuances to help the transacting public navigate through changes prompted by the pandemic in the Commission’s operations.
Accordingly, the SEC has managed to continue accepting and processing applications for company registration online through its Company Registration System (CRS), as well as for amendments, company monitoring and verification of registration status, among others.
The Commission has processed at least 2,500 applications for company registration and monitored 2,894 corporations since shifting to a work-from-home arrangement, a move in line with Section 4(t) of the Bayanihan to Heal as One Act.
The SEC also continued to process pending applications for renewal of accreditation of external auditors and auditing firms.
On April 6, it started accepting applications for the centralized accreditation of external auditors and auditing firms for entities under its supervision and those regulated by the Bangko Sentral ng Pilipinas and Insurance Commission.
To ease the burden of its covered institutions during the quarantine, the Commission extended the deadline of submission for certain reportorial requirements and provided for alternative modes of filing them. (PR)
