THE Securities and Exchange Commission (SEC) on Tuesday launched six digital platforms and an in-house data center aimed at improving the delivery of its regulatory services.
“We envision the data center to strengthen our response to disruptions by having the ability to handle everything from one place and through our own team of technical experts,” SEC Chairperson Emilio B. Aquino said at the launch event in Makati City.
“In turn, this will pave the way for quicker transactions, better access to services, and stronger data security that will benefit our stakeholders,” he added.
The SEC’s new digital initiative, the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR), enables authenticated authorized filers to submit and update beneficial ownership data, streamlining the process by eliminating manual information management.
Another platform is the SEC Verification of Electronic Records and Information Trust and Authentication System, which enables multiple authorized parties to approve and sign corporate documents — such as board resolutions and compliance reports — in real time to improve document credentialing.
The SEC also launched the SEC Electronic Exceptional and Alternative Submission Environment, an alternative platform for the submission of reportorial requirements by corporations under dispute status that are temporarily barred from using their Electronic Filing and Submission Tool accounts.
The commission also introduced the Electronic Workbench and Analytics Technical Computing Hub, which notifies corporations of reportorial deadlines and flags them for late or non-submission to improve regulatory compliance.
In addition, two internal systems — the Document Management System (DMS) and Workflow Management System (WMS) — were deployed to streamline internal operations.
The DMS, set to be implemented at SEC extension offices as well, is designed to improve document traceability, accessibility, and organization, facilitating the management and retrieval of regulatory documents.
The WMS enables SEC units to design and configure their own process flows, including document approvals, license applications, compliance verifications, and inter-agency coordination.
“Our push for digitalization — a core component of sustainability — allows us to fulfill our mandate under the Ease of Doing Business Act,” Mr. Aquino said.
The SEC recorded a 6% increase in new company registrations to 52,304 in 2024 from 49,506 in 2023, driven by its digital platforms. — Revin Mikhael D. Ochave
