The Philippine Securities and Exchange Commission has mandated its Online Application for Registration Statements for newly initiated securities registration applications, advancing broader efforts to streamline public offerings and digitize regulatory processes. The web-based platform reduces the target processing period from 45 to 40 days after payment of the initial assessment fee and supports electronic submission and review without an additional system charge. The requirement covers direct public offerings, first tranches under shelf registrations, follow-on offerings and initial public offerings, but excludes debt securities. Companies may submit SEC Form 12-1, SEC RENT and SEC POWERS through the system. Authorized representatives must hold a credentialed Electronic SEC Universal Registration Environment account and complete company-linking and authorization procedures before applying. Existing and pending registration applications will continue under the commission’s previous 45-day review process. The circular takes effect after publication in two newspapers of general circulation.
2026-08-26Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission mandates OARS filings for registration statements, shortens processing to 40 days
The Philippine Securities and Exchange Commission will require newly initiated registration statement applications, other than debt securities issuances, to be filed through OARS. Covered applications will be processed within 40 days after payment of the initial assessment fee, while existing and pending cases will remain under the previous process.