In a major move to modernize corporate compliance, the Securities and Exchange Commission (SEC) is set to allow paperless filing of key corporate amendments through its eAMEND system. The draft rules, now open for public comment until April 15, aim to make the process faster, more convenient, and fully digital.
Under the new system, companies can file changes to their articles of incorporation—including office address, term of existence, board size, and fiscal year—as well as amendments to by-laws, such as meeting dates and fiscal year, without submitting hard copies.
To use the paperless option, the company’s authorized representative and corporate secretary must set up eSECURE accounts and complete identity verification. Scanned, signed, and notarized documents will carry the same legal weight as original copies, though the SEC may conduct random checks and request originals. Non-compliance within 15 days could trigger a ₱20,000 fine or revocation of the amendment.
The draft guidelines also require a Secretary’s Certificate with Undertaking, signed and notarized, to accompany all paperless filings. Violations could lead to revoked approvals, disqualification from eAMEND, administrative sanctions, or even civil or criminal action against company officers.
The SEC’s initiative signals a major push toward digital governance, promising speed, efficiency, and security for corporate filings.
