SEC extends securities registration discount for MSMEs

The Securities and Exchange Commission (SEC) has extended discounted securities registration fees for micro, small and medium enterprises (MSMEs) until the end of 2026 as it seeks to encourage more small businesses to tap the capital market for funding.

In a memorandum circular issued on June 17, the SEC extended the effectivity of the 50-percent discount on securities registration fees for MSMEs until Dec. 31.

The incentive applies to corporations registering securities for public offerings, including those covered by the regulator’s streamlined registration processes.

The discounted rate covers companies in sectors such as power generation and distribution, real estate developers and managers involved in rental pool arrangements, agribusiness firms and hospitals.

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The extension is the latest move by the corporate regulator to make fundraising more accessible for smaller enterprises, which often face higher costs when seeking capital for expansion.

“The discounted rate for registration of securities runs alongside the 20 percent discount granted to MSMEs formalizing their corporate registration,” the SEC said. “In addition, MSMEs that increased their authorized capital stock through amendments of their articles of incorporation were able to benefit from a 25 percent discount on filing fees until December 31, 2025.”