As seen on SEC’c official FB Page – The Securities and Exchange Commission (SEC) is preparing new guidelines that will allow paperless filing for specific amendment applications through the Electronic Application for Modification of Entity Data (eAMEND), as it seeks to improve regulatory efficiency and promote sustainability.
The Commission on March 31 issued for public comment the draft memorandum circular providing for the guidelines on the implementation of paperless filing for select amendment applications through eAMEND, further advancing the Commission’s digital transformation and sustainability push.
The proposed rule will supplement SEC Memorandum Circular No. 3, Series of 2024, and SEC Memorandum Circular No. 3, Series of 2026, which prescribe the guidelines on the use of the eAMEND portal.
Under the draft guidelines, paperless filing will be offered as an optional processing lane. Corporations may still opt to file through the Simple or Regular processing lanes, which require the submission of hard copies of the amendment documents.
Paperless filing will cover amendments to both the Articles of Incorporation (AOI) and By-Laws. For AOI, the covered amendments include Prefatory Clause, Change in the Principal Office Address, Term of Existence, Increase or Decrease in the Number of the Board of Directors/Trustees, and Fiscal Year for One Person Corporations.
For By-Laws, covered amendments include the Date of Annual Meeting of the Stockholders/Members, and Fiscal Year.
Read full press release here: https://www.sec.gov.ph/…/sec-to-allow-paperless-filing…/
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