• SEC MC No. 28, s. 2020 Requirement to Create/Designate Email and Cellphone Number for SEC Transactions

    Requirement for Corporations Partnerships, Associations, and Individuals to Create and/or Designate E-mail Account Address and Cellphone Number for Transactions with the Commission
    Corporations, Associations, Partnerships, Persons under the jurisdiction and supervision of the SEC (“Covered Entities/Persons”)

    To facilitate and expedite the transmission and receipt of official online communications with the SEC. Online correspondences with the SEC include transactions, applications, letters, requests, papers, pleadings, filed by Covered Entities/Persons; as well as the notice, letter-replies, orders, and decisions issued by the SEC.

    Deadlines to remember: 
    1. Submission of Covered Entities/Persons Form: 60 days from publication of the Circular in the Official Gazette or in two (2) newspapers of general circulation. 
    2. Inclusion of Information in GIS and NUF: starting 23 Feb 2021

    Covered Persons shall submit the following information to the SEC within 60 days from the effectivity of the Rules (NOTE: No specific date yet as the SEC Circular has yet to be published in the Official Gazette or in newspapers. We will update this Advisory when the information becomes available.):
    • Valid official e-mail address;
    • Valid official cellular phone number;
    • Valid alternate e-mail address; and
    • Valid alternate cellular phone number.

    The above contact information shall be in the control of the following:

    - Domestic Corporation                                                                                Corporate Secretary or Duly authorized representative
    -  Corporation  Sole                                                                                         Person charged with administration and management or Duly authorized representative
    - Foreign Corporation                                                                                    Resident agent or Duly authorized representative
    Partnership                                                                                                        Managing partner or Duly authorized representative
    One Person Corporation/ Natural Persons                                         Individual or Duly authorized representative

    Valid email address 

    • Existing email address with at least 1GB of unused memory space at any given time
    • The official email address of a covered person may be the official email address of another; provided that the official and alternate of the covered person are not the same.
    • If principal place of business has no internet access, only the cellphone numbers shall be required

    Valid cellphone number
    • Existing mobile phone number from any telecom in the Philippines
    • The official cellphone number of a covered person may be the official email address of another; provided that the official and alternate of the covered person are not the same

    Change in information 
    Notice to SEC must be submitted within 5 days from the date of change, accompanied by a Certificate of Authorization.

    Penalty for non-compliance: Php10,000

    *For further information and reference, attached herewith is a copy of SEC Memorandum Circular No. 28, S. 2020