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‘The reduced rates are in line with the commitment of the SEC to allow for greater access to corporate data through a fair and sustainable pricing mechanism,’ says the Securities and Exchange Commission
MANILA, Philippines – The Securities and Exchange Commission (SEC) announced on Thursday, June 26, that it is halving the cost of requesting corporate documents.
The SEC issued a memorandum circular dated Tuesday, June 24, lowering prescribed rates for requesting copies of documents of registered companies effective after a week, or on July 1.
“The reduced rates are in line with the commitment of the SEC to allow for greater access to corporate data through a fair and sustainable pricing mechanism, while avoiding undue financial burden to the corporate sector and the general public,” the corporate regulator said in a statement.
Physical authenticated copies of the following documents can now be obtained for P1,000 instead of the previous P2,000:
- Articles of incorporation and by-laws
- Articles of incorporation or amended AOI
- By-laws or amended by-laws
- General information sheet
- Increase in capital stock
- Resolution
- Secretary’s certificate
- Board resolution
- Registration data sheet
- Deed of assignment
Meanwhile, the digital authenticated copies of the documents listed above will now cost P625 from P1,250.
Newly installed SEC Chairman Francis Lim earlier said he wished to reduce fees for micro, small, and medium enterprises to encourage the sector’s growth.
“Regulation must support, not suffocate,” Lim said on the sidelines of his turnover ceremony on June 10.
– Rappler.com
