Friday, February 27, 2015

SEC-Ali Mall Satellite Office is Now Open to Serve the Private and Government Sectors

The Securities and Exchange Commission (SEC) posted a notice through  their website last December 15, 2014 which is favorable for both the agency and private and government business sectors with regards to SEC transactions. 

It was a notice that the SEC-Ali Mall Satellite Office is now open at the 2nd Level Government Center at the Ali Mall, Cubao, Quezon City.

Operation hours are, Mondays to Fridays, from 10:00 a.m. to 6:00 p.m.

The Satellite Office offers the following services:

1. Verification and reservation of corporate and partnership names;
2. Pre-processing of registration applications of corporations and partnerships;
3. Pre-processing of applications for amendments;
4. Monitoring of corporations on their compliance with their reportorial requirements;
5. Releasing of Certificates of Registration and approval; and.
6. Receiving of General Information Sheets (GIS) and Audited Financial Statement (AFS)

Please refer of the full text of the SEC Notice.

Wednesday, February 18, 2015

SEC Advisory: High Yield-High Risk Investment Scheme

The Securities  and Exchange Commission certified that the EMGOLDEX PHILIPPINES is not registered corporation or partnership. This is to inform to the public to be cautious in investing their money. 

The agency has received reports that Facebook netizens are being invited or enticed to invest their money in EMGOLDEX PHILIPPINES "Pinoy Style Patak Patak" for a promise of huge profit/high returns where an investment of One Thousand Pesos will earn profits ranging from Five Thousand to Ten Thousand Pesos or a placement of Thirty Five Thousand will yield One Hundred Eighty thousand to Three Hundred Sixty Thousand Pesos (1K=5K to 10K payout or 35K=180K to 360K payout).

You can call the Enforcement and Investor Protection Department of the agency at telephone numbers 584-7187 or 584-7652 of any information regarding the operation of the said entity.

Please refer of the full text of the sec advisory.

Monday, February 9, 2015


SEC Memorandum Circular No. 23 Series of 2014 was issued to adopt the following measures in the filing of the AFS of companies whose fiscal year ends on December 31, 2014 and General Information Sheet.

All Corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, that file their AFS and GIS at the Commission's Head Office in Mandaluyong City, Satellite Office, Davao, Cebu, Iloilo and Baguio Extension Offices shall depending on the last numerical digit of their SEC registration or license number, be governed by the following schedule in the filing period for 2015:

April 13, 14, 15, 16, 17:     "1", "2"
April 20, 21, 22, 23, 24:     "3", "4"
April 27, 28, 29, 30:           "5", "6"
May 4, 5, 6, 7, 8:                "7", "8"
May 11, 12, 13, 15, 15:      "9", "0"

Prior to April 13, 2015 all corporations may file their AFS regardless of the last numerical digit of their registration or license number;

Late filing shall be accepted starting May 18, 2015 and shall be subject to the prescribed penalties which shall be computed from the date of the last day of filing schedule stated in paragraph 1;

The AFS, other than the consolidated financial statements, shall have the stamped "received by the Bureau of Internal Revenue (BIR) or its authorized banks, unless the BIR allows an alternative proof of submission for its authorized banks (e.g. bank slips);

Please refer of the full text of the circular.

SEC Express System

The Securities and Exchange Commission (SEC) unveiled the  SEC Express System , is an alternative mode of securing copies of Corporate or Partnership documents without having to personally come to the SEC.

The public may access the SEC Express System when requesting for both plain and authenticated copies of the following documents on file with the SEC:

  • Articles of Incorporation/Partnership (original and amended)
  • By-laws (original and amended)
  • General Information Sheet (GIS)
  • Application for Increase/Decrease of Capital Stock
  • Resolution (Minutes)
  • Secretary`s Certificate
  • Board Resolution
  • Registration Data Sheet
  • Other company-related documents

The SEC Express System covers the following options:

  1. Online Application.
    The public may request for SEC documents through a user-friendly, web-based interface that includes online payment and courier delivery of the requested documents/s nationwide.

  2. Call Center Facility.
    The public may call Hotline Number 737-8888 for requests, mode of payment and courier delivery of the requested documents/s nationwide.

  3. General Information Sheet (GIS).
    The public may schedule an appointment when to go to SEC to make their request for document/s. The request shall then be accompanied at the appointed date and time. A maximum of three (3) documents per appointment shall be accommodated. One-time request in excess of three documents shall be referred to the Online Application and/or Call Center Facility.

But the provider will charge additional service and courier fees for Online Application and Call Center Facility.

However, the public may opt to personally come to the SEC By Appointment without additional cost to them.

Sunday, February 8, 2015

SSS Payments via Mobile Phones to Open to Members with the MOA signed with G-XChange Inc.

Did you know that mobile payments to Social Security System (SSS) will be available soon with the memorandum of agreement signed between the state agency and G-XChange Inc.?

The contract allows SSS members to pay their SSS contributions and loan amortizations through the use of G-XChange's mobile remittance facility called "G-Cash," which is offered exclusively to Globe and TM Network subscribers.

G-Cash is a free mobile application, which serves as a virtual wallet offering users a secure, fast, and convenient money transfers using mobile phones. A one-time registration is required for SSS transactions and payments are free of charge.

The facility will be opened to household employers, voluntary members, and self-employed individuals including farmers, fishermen and non-working spouses.

To make payments using G-Cash, SSS members will need to load their G-Cash accounts to cover their payments for contributions and loans. The member will receive a confirmation text message for every successful transaction.

Please refer of the full text of the article.