The Philippine Securities and Exchange Commission has launched a consultation on draft rules requiring corporations to initiate new registration statement applications through the Online Application for Registration Statements. The web-based platform would reduce the processing period to 40 days from payment of the initial assessment fee, compared with the existing 45-day review framework. The requirement would cover direct public offerings, first tranches under shelf registrations, follow-on offerings and initial public offerings using specified registration forms. Authorized representatives would need credentialed Electronic SEC Universal Registration Environment accounts, and applicants would have to link their companies and complete an authorization process. Use of the platform would initially be free, while existing and pending applications would continue under the current process. Comments are due by June 29, 2026. The commission will conduct user acceptance testing during the consultation period and issue testing details separately.
2026-06-09Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission launches consultation on mandatory online registration statement applications and 40-day processing
The Philippine Securities and Exchange Commission is consulting on mandatory use of its online platform for newly initiated registration statement applications. Covered applications would be processed within 40 days after payment of the initial assessment fee, while existing and pending cases would remain under the current process. Comments are due by June 29, 2026, with user acceptance testing planned concurrently.