SEC Cebu Continues Operations Amid Enhanced Community Quarantine

The Securities and Exchange Commission – Cebu Extension Office (SEC-CEO) continues its work operations while Cebu City undergoes enhanced community quarantine to contain the COVID-19 pandemic.

While the SEC-CEO no longer accepts walk-in transactions per the request of Mayor Edgar Labella, the office is still accepting applications such as registrations, amendments, and others, as long as clients send their documents to seccebu@sec.gov.ph for initial review.

The SEC Company Registration System (CRS) remains online for clients who wish to register a corporation with 5 or more incorporators. The CRS 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/. In the system, the applicant can verify its proposed company name, generate its articles of incorporation, bylaws and other company registration documents, and upload all required documents for processing, review and approval. If applicant is done with the online application by 100%, the scanned copy of the online generated application may be emailed 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.

Meanwhile, for transactions such as amendments, registration of One Person Corporation (OPC), registration of corporations with 2-4 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 them through email while Cebu is still under enhanced community quarantine.

As for the filing of annual reports such as the General Information Sheet (GIS) and Audited Financial Statement (AFS):

1. The Commission has not provided an extension for the submission of the 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.

2. The AFS deadline for filing is extended to June 30, 2020 for ordinary stock and nonstock corporations whose fiscal year ended in November 30, 2019 or December 31, 2019.

SEC-CEO has also 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. “Cebu City is placed under enhanced community quarantine, but our office commits to continually serve the public. Our work from home arrangements ensure that we still get our jobs done. We hold remote video conferences twice a day and we also make sure to monitor the accomplishment reports of employees.” SEC Cebu Officer-in-Charge, Atty. Alma Marie E. Dalena, said.

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

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.

“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.” Atty. Dalena added.

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