SEC Circular 10-2024: Establishing the Electronic SEC Universal Registration Environment (eSECURE)

September 19, 2024

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Philippine SEC Memorandum Circular No. 10 Series of 2024 establishes the Electronic SEC Universal Registration Environment (eSECURE), a comprehensive online platform to streamline the SEC’s digital services. This circular is part of the SEC’s drive to digitalize government processes per Republic Act No. 11032, the Ease of Doing Business Act.

Key Features of eSECURE:

eSECURE Account Creation: Individuals must register an eSECURE account to use various SEC online services. Some of these services include:
- 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)
- SEC Electronic Registry Application for Market Participants (eRAMP)
- SEC eFAST Alternative Submission Environment (EASE)
- SEC Electronic Application for Modification of Entity Data (eAMEND)
- SEC Appointment System
- SEC iMessage.
Credentialing Process: The user undergoes a credentialing process for services deemed sensitive or critical. This process includes electronic Know Your Customer (eKYC) verification and may involve biometric capture or courier-based identity verification. Examples of sensitive services include eSPARC, ACES, and the SEC Application Program Interface (API) Marketplace.
Benefits of Credentialing: A credentialed account allows for secure and streamlined access to services, eliminating the need for identity verification for each transaction. Users not undergoing credentialing must verify their identity for every SEC interaction.
Transition to eSECURE: Some systems like the SEC Electronic Filing and Submission Tool (SEC eFAST), the MC 28 Submission Portal, and the Electronic System for Payment (eSPAYSEC) will remain accessible without an eSECURE account temporarily. Eventually, access to these systems will also require an eSECURE account.

Fees and Charges:

Initial Credentialing: ₱400 for account creation and a two-year subscription.
Additional Credentialing: ₱100 for subsequent credentialing due to changes.
Renewal: ₱250 upon renewal of the credentialing account.

The circular is a significant step toward digitalizing SEC transactions, making corporate processes more secure and efficient in the Philippines.

Is Assistance Available?

Efficiency in time, effort, and cost is key when handling application processes, business registrations, and related requirements. Triple i Consulting, the pioneering ISO 9001:2008 firm in the Philippines specializing in company and business registration services, excels in streamlining these processes to help clients meet their business needs seamlessly, allowing them to focus on operations and growth.

For support with company incorporation or business registration, we invite you to contact us for personalized assistance through any of the following methods: