SEC pushes reform for faster business kickoff
The Securities and Exchange Commission (SEC) is proposing a “One Business Start Date” that would allow companies to begin commercial operations once they secure their SEC registration or other primary regulatory license, even while other government permits are still being processed.
On Monday, the SEC said the proposal is among the corporate regulator’s next-wave reforms aimed at cutting the time between company registration and the actual start of operations.
Under the planned system, businesses could complete other government permits in parallel instead of waiting for all requirements before commencing operations.
“Ease of doing business is still very high in our agenda,” SEC Chair Francis Lim told reporters on Monday.
Lim said the SEC would continue automating and digitizing its processes as part of its push to reduce regulatory hurdles.
The regulator has already imposed strict internal processing timelines, including a “deemed approved” policy for applications that are not acted upon within prescribed periods.
It also cut fees for corporate document requests. The SEC said cumulative discounts had reached nearly P263 million as of July after fees were reduced by half in 2025 and by another 25 percent this year.
Discounts granted to micro, small and medium enterprises reached P157.31 million as of July.
The SEC recorded 28,724 newly registered corporations as of July, bringing the number of active corporations to 613,553.
Beyond business registration, the regulator is pursuing changes to deepen the capital market.
It is working with the World Bank to separate regulatory requirements for debt and equity public offerings, while also developing market-making rules with the Philippine Stock Exchange and Philippine Dealing and Exchange Corp.
The SEC is separately reviewing margin trading rules to improve market liquidity.
The regulator is also developing a Philippine Capital Market Master Plan with the Asian Development Bank, part of its push to position the country among Southeast Asia’s leading capital markets by 2030.
Meanwhile, SEC Commissioner McJill Bryant Fernandez said the proposed initial public offerings of GCash parent Mynt and PLDT Inc.’s VITRO data center REIT remain targeted for the fourth quarter.
These companies are still submitting requirements, Fernandez said.
