Securities and Exchange Commission's Express Nationwide Submission (SENS)

Regulations

March 22, 2016

This Accounting Alert is issued to provide update with respect to guidance issued by the Philippine Securities and Exchange Commission (SEC) in filing reportorial requirements.

The SEC is now introducing an innovative, integrated solution to address the increasing volume of Annual Reports submission consisting of Audited Financial Statements stamped received by the Bureau of Internal Revenue and General Information Sheet that will be able to integrate seamlessly with the SEC process resulting in a more efficient, reliable and convenient process for compliance of Annual Reportorial Requirements of entities without the need to proceed to the SEC personally to submit the said documents.

 

In line with this, on March 18, 2016, the SEC soft-launched a new system for the submission of these documents called the SEC Express Nationwide Submission or SENS. This allows filers an additional submission option to the SEC's standard procedures. With this option, filers can simply send their documents to the SEC through a designated courier or courier of their choice instead of submitting these personally at SEC office and/or Satellite Offices.

For the details of the step-by-step process on how to use SENS, please see attached notice from the SEC.

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