SEC eases capital market entry with online registration
The Securities and Exchange Commission (SEC) is making it easier for companies to tap the capital market, hoping that simpler and faster registration processes will encourage more businesses to raise funds from the investing public.
The corporate regulator has moved applications for public offerings fully online through the mandatory use of the Online Application for Registration Statements (OARS), while cutting processing timelines.
SEC Chair Francis Lim said the initiative was part of the Commission’s broader push to deepen the domestic capital market by lowering procedural hurdles for companies seeking funds for expansion.
“By modernizing and simplifying our processes, we hope to encourage more businesses to view and enter the capital market as a viable option for their growth, in line with our agenda to further deepen and stimulate market activity in the country,” Lim said.
The SEC on Aug. 24 issued Memorandum Circular No. 24, Series of 2026, mandating the use of OARS.
The web-based platform allows companies to electronically submit registration statements and other required filings containing information on their operations and securities being offered.
Except for issuances of debt securities, OARS accepts applications for direct public offerings, follow-on offerings, initial public offerings and first-tranche shelf registrations.
The platform also covers applications under specialized registration programs such as “Securing & Expanding Capital for Real Estate Non-Traditional Securities” and “Securing & Expanding Capital for PowerGen Operators & Wholesale of Electricity & Retail Services.”
Applications filed through OARS will be processed within 40 days upon payment of the initial assessment fee.
The SEC may eventually expand the system.
