EASE OF DOING BUSINESS | SEC adopts online registration system for entities

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The SEC building, in file photo by bworldonline.com

MANILA – The Securities and Exchange Commission has launched an online registration system to facilitate the application process for those setting up businesses.

The Company Registration System or CRE will replace the face-to-face transaction required at the SEC offices, because the new system allows applicants to send documents online.

The CRE was piloted in January 2017.

According to SEC Commissioner Blas James Viterbo, “This system will allow online registration 24 hours a day 7 days a week. As simple as registering your email and your identity; then you submit your documents online, then a processor will review it.”

The public will benefit by way of “savings in their time, effort and money. Travel time . . . just online payment, you only visit the SEC once. From a good governance perspective, it cuts down face-to-face encounters between SEC personnel and applicants. It also frees up our personnel from registration tasks and shifts them to more monitoring and enforcement efforts. Eventually it may be just as easy as buying plane tickets,” added Viterbo.