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Tax Notes

SEC launches the Electronic SEC Universal Registration Environment (eSECURE) platform

31 Jul 20243 min read

Contents

As part of its efforts to digitalize government processes in line with the Ease of Doing Business and Efficient Government Service Delivery Act, the Securities and Exchange Commission (SEC) is consolidating all of its digital services into a single platform called the Electronic SEC Universal Registration Environment (eSECURE).

eSECURE serves as a digital passport, providing users with access to various online services offered by the SEC. It enables them to manage their SEC accounts and easily access the following online services:

SEC Electronic Simplified Processing of Application for Registration of Company (eSPARC)
One-day Submission and E-registration of Companies (OneSEC)
Automated Certification Examination System (ACES)
Electronic SEC Education, Analysis, and Research Computing Hub (eSEARCH)
SEC Application Program Interface (API) Marketplace
SEC Electronic Registry Application for Market Participants (eRAMP)
SEC eFAST Alternative Submission Environment (SEC EASE)
SEC Electronic Application for Modification of ENtity Data (eAMEND)
SEC Appointment System
SEC iMessage

In addition to the above online services, users can access the SEC Electronic Filing and Submission Tool (SEC eFAST), MC 28 Submission Portal, and Electronic System for Payment to SEC (eSPAYSEC) without an eSECURE account until these systems are updated and integrated with the eSECURE platform. Once the integration is complete and the SEC issues an appropriate circular, access to these services will require the creation of an eSECURE account.

eSECURE supports risk-based credentialing and includes an Electronic Know Your Customer (eKYC) process for verifying identities and ensuring the reachability of users. It allows credentialed users to digitally authenticate documents online, such as but not limited to Articles of Incorporation, By Laws, and General Information Sheets, using the SEC Electronic Submission Authentication Portal (eSAP). This eliminates the need for documents to have affixed wet signatures, notarization,, and hard copy submissions.

SEC Memorandum Circular (MC) No. 10, series of 2024, released on July 10, provides the guidelines on the use of the eSECURE platform. The Circular states that while creating an eSECURE account and digitally authenticating documents through eSAP is currently optional, the SEC may require mandatory implementation in the future through appropriate measures. To ease the transition, the process will not yet be mandatory, and filers will continue to have the option to avail of the current accepted modes of filing for the appropriate and relevant systems through the submission of manually signed and/or duly notarized hardcopies.

Except during scheduled system maintenance, eSECURE will be available and accessible 24 hours a day, seven days a week.

Please be guided accordingly.

Source:

P&A Grant Thornton 

Certified Public Accountants 

P&A Grant Thornton is the Philippine member firm of Grant Thornton International Ltd.

As published in SunStar Cebu, dated 31 July 2024

SEC launches the Electronic SEC Universal Registration Environment (eSECURE) platform

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SEC launches the Electronic SEC Universal Registration Environment (eSECURE) platform

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