MANILA, Philippines - The Securities and Exchange Commission (SEC), the corporate regulator has moved a step closer in its goal to make corporate transactions easier and more accessible in the country with the opening of its first satellite office last week.
SEC’s first satellite office opened on Tuesday in Ali Mall Cubao in Quezon City.
The SEC said the satellite office would offer verification and reservation of corporate and partnership names, pre-processing of registration applications of corporations and partnerships, as well as applications for amendments.
Receiving of general information sheets and audited financial statements would also be made available through the satellite office, the country’s corporate regulator said in a notice.
The Ali Mall branch is only the first of several more satellite offices to sprout around the country, according to the SEC.
SEC chairperson Teresita J. Herbosa earlier said the agency is targeting to open about six satellite offices in Metro Manila this year alone, with Alabang, SM North EDSA and SM Manila as potential sites.
“The reason why we’re putting up satellite offices is that we’ve noticed that we don’t anymore have to require them to come to the office. Because of online connection, we can already find the history of the company that we need to look at,” Herbosa has said.