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DEPARTMENTS

Markets and Securities Regulation Department

DEPARTMENT’ FUNCTIONS
The Markets and Securities Regulation Department (MSRD) promotes the development of the capital markets and ensures their integrity and stability as well as the protection of investors through the formulation of relevant policies and rules, and the supervision of securities markets, issuers of securities, market institutions, intermediaries and professionals, and other market participants. Specifically, the MSRD shall, among others, perform the following functions:
•	Register and/or exempt from registration securities as defined in pertinent laws, rules and regulations, orders, circulars and other issuances of the Commissions, including among others, real estate investment trusts (REIT), and other alternative investment products, as well as supervise and monitor the compliance of issuers of such securities with legal and regulatory requirements;
•	Register securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets, and other trading markets, self-regulatory organizations (SROs), clearing agencies, securities lending agencies, securities depositories, securities custodians, central trade reporting systems, registrars of qualified buyers, REIT fund managers, Financial Institution Strategic Transfer (FIST) Corporations and their compliance officers and other securities-related organizations, as well as supervise and monitor their compliance with legal and statutory requirements;
•	Supervise intermediaries and market professionals such as brokers, dealers, government securities eligible dealers, government securities brokers, associated persons and salespersons of brokers/dealers, investment houses, underwriter of securities, investment company advisers, mutual fund distributors, investment advisers, REIT fund managers, compliance officers, and certified investment solicitors of investment company advisers and mutual fund distributors, and transfer agents and other securities market participants, for their compliance with legal and regulatory requirements;
•	Approve, authorize and/or register new products and services in the securities market such as securities market-related fintech applications, crowdfunding intermediaries, digital asset exchanges, derivatives, and commodity futures, as well as supervise, monitor and inspect, examine and/or audit the market participants and persons involved relative to these products and services they offer, to ensure their consistency and/or compliance with securities and other applicable laws, regulations, policies, and global best practices;
•	Inspect, examine and/or audit issuers of securities and of other alternative investment products, securities markets, market institutions, intermediaries, market professionals, and other market participants and persons to ensure compliance with statutory legal and regulatory requirements;
•	Issue audit reports, corrective actions, show cause orders, assessment letters for imposition of penalties and cease and desist orders for noncompliance with and/or violation of the rules and regulations implemented by the Department and recommend policy reforms based on the results of audit, examination and other supervisory activities;
•	Promote capital market financing options for micro, small and medium enterprises and start-ups (SMEs);
•	Review and recommend approval, disapproval or modification on proposed rules of SROs, other market-related organizations, exchanges, other trading markets/platforms, clearing agencies, securities depositories and other market participants, and products and services offered by said entities, to ensure their consistency and/or compliance with securities law, regulations, policies, and global best practices;
•	Review and recommend approval, disapproval or modification on proposed rules of SROs, other market-related organizations, exchanges, other trading markets/platforms, clearing agencies, securities depositories and other market participants, and products and services offered by said entities, to ensure their consistency and/or compliance with securities law, regulations, policies, and global best practices;
•	Represent the Commission in Congressional hearings on proposed bills affecting the Department, in court hearings, as well as in inter-agency and private sector meetings, consultations, and other fora;
•	Support the establishment of linkages with national and international organizations, and regulatory agencies with regard to the securities market, including cross-border products, services, and agreements;
•	Lead the operations of the Commission as National Numbering Agency for all securities issued in the Philippines and in other jurisdictions, as appropriate;
•	Inquire, investigate, issue show cause orders, cease-and-desist orders and/or initiate other appropriate proceedings and impose sanctions and penalties, including the assessment and collection of fines, for non-compliance and violation of the laws, rules and regulations, circulars, policies, orders and other issuances being enforced and implemented by the Department;
•	Coordinate with other departments on all matters pertaining to the functions of the department;
•	Support innovations and digitalization initiatives affecting the capital market; and
•	Support and promote sustainability initiatives of the Commission in the performance of all the functions of the Department.
Securities Registration Division
The Securities Registration Division (SRD) shall perform the following functions:
•	Review and process applications for registration and exemption from registration of securities, exemptive relief, tender offer and other SRC-related applications;
•	Review and recommend approval, disapproval or rejection of applications for registration and exemption from registration of securities and issue the Order of Registration and/or Permit to Sell or Order of Rejection or Letter of Denial;
•	Conduct conferences, meetings and consultations with corporations, directors, officers and other stakeholders for the purpose of ensuring proper implementation and application of appropriate laws pertaining to the registration of securities, conduct of tender offers, submission of information statements, requests for exemptive relief, and confidential treatment of information in compliance with legal and regulatory requirements, among others;
•	Conduct hearings and conferences with corporations, directors, officers of registered issuers of securities and other investment products for the purpose of ensuring proper implementation of appropriate laws pertaining to administrative sanctions and in compliance and/or non-compliance with legal and regulatory requirements;
•	Process the suspension and/or revocation of secondary licenses of issuers of securities, and other investment products for noncompliance and/or violation of legal and regulatory requirements;
•	Process the disqualification of directors, officers, and persons performing similar functions, of registered issuers of securities and other investment products for violation of pertinent provisions of the Securities Regulation Code (SRC), and for failure to comply with a decision, order or resolution of the Commission or a court that is being enforced or executed for violation of legal and regulatory requirements;
•	Process the lifting of orders of suspension and/or orders of revocation of secondary licenses of issuers of securities and other investment products; and disqualification orders issued to directors and/or officers of registered issuers for noncompliance and/or violation of legal and regulatory requirements;
•	Review Information Statements, proxy forms, and all other materials necessary in the conduct of stockholders’ meetings, in compliance with legal and regulatory requirements;
•	Supervise and monitor the compliance of issuers of securities with legal and regulatory requirements;
•	Review the proposed rules of self-regulatory organizations and other market participants, and products and services offered in the securities market, in coordination with offices, to ensure their consistency with securities laws, regulations, policies, and global best practices;
•	Review regulatory frameworks for the securities industry, conduct market-related research, and recommend rules and/or reforms, in coordination with other offices;
•	Assist in the allocation of ISIN, Financial Instrument Short Name (FISN) and Classification of Financial Instruments (CFI) codes to all instruments in the market, including unlisted securities relative to SEC’s function as National Numbering Agency;
•	Issue reply letters, Memos, and all other correspondences received by the Division;
•	Recommend issuance of show cause orders, assessment letters for imposition of penalties and cease and desist order for noncompliance with and/or violation of the rules and regulations implemented;
•	Monitor developments in the securities markets, and discharge other functions necessary to facilitate capital formation, to maintain fair, orderly and efficient markets, to protect investors and prevent systemic risks;
•	Provide comments to the application for registration or amendments of Articles of Incorporation and By-laws of corporations, and other applications and filings endorsed by the Company Registration and Monitoring Department;
•	Coordinate with other divisions on all matters pertaining to the functions of the division;
•	Support the sustainability initiatives of the Commission; and
•	Propose innovations and enhancement of existing systems, processes and procedures relative to the functions of the division.
Markets and Intermediaries Division
The Markets and Intermediaries Division (MID) shall perform the following functions:
•	Supervise securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets and other trading markets, self-regulatory organizations (SROs), clearing agencies, securities lending agencies, depositories, custodians, central trade reporting systems, registrars of qualified buyers and other securities-related organizations to ensure their compliance with legal and regulatory requirements;
•	Supervise intermediaries and market professionals such as brokers, dealers, government securities eligible dealers, government securities brokers, associated persons and salespersons of brokers/dealers, investment houses, underwriter of securities, investment company advisers, mutual fund distributors, investment advisers, REIT fund managers, compliance officers, and certified investment solicitors of investment company advisers and mutual fund distributors, and transfer agents and other securities market participants, for their compliance with legal and regulatory requirements;
•	Supervise market participants and persons relative to the products and services they offer in the securities market such as fintech applications, crowdfunding intermediaries, crowdfunding portals, digital assets, derivatives, and commodity futures to ensure their compliance with securities laws, regulations, policies, and global best practices;
•	Provide comments to applications for registrations of capital market institutions and securities market intermediaries;
•	Review and process applications for exemptive reliefs from the specific provisions of the Code by capital market institutions and securities market intermediaries;
•	Review the proposed rules of SROs and other market participants, and products and services offered in the securities market, in coordination with other offices, to ensure their consistency with securities laws, regulations, policies, and global best practices;
•	Review regulatory frameworks for the securities industry, conduct market-related research, and recommend rules and/or reforms, in coordination with other offices;
•	Review letters, memos and recommendations in reply to requests and correspondences received by the Division;
•	Review recommendations to issue show cause orders, assessment letters and recommend imposition of penalties for violation or noncompliance with the rules and regulations implemented by the Division;
•	Monitor developments in the securities markets, and discharge other functions necessary to facilitate capital formation, to maintain fair, orderly and efficient markets, and to protect investors;
•	Provide comments to the application of Articles of Incorporations and By-laws of corporations, and amendments thereto and other applications and filings endorsed by the Company Registration and Monitoring Department;
•	Coordinate with other divisions on all matters pertaining to the functions of the said division;
•	Support the sustainability initiatives of the Commission; and
•	Propose innovations and enhancement of existing systems, processes and procedures relative to the functions of the division.
Investment Products and Services Division
The Investment Products and Services Division (IPSD) shall perform the following functions:
•	Process applications for registration of securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets and other trading markets, self-regulatory organizations (SROs), clearing agencies, securities lending agencies, securities depositories, securities custodians, central trade reporting systems, registrars of qualified buyers, and other securities-related organizations to ensure their compliance with legal and regulatory requirements;
•	Process applications for registration of new products and services in the market such as fintech applications, crowdfunding intermediaries, crowdfunding portals, digital assets, derivatives, and commodity futures to ensure their consistency with securities laws, regulations, policies, and global best practices;
•	Review the proposed rules of SROs and other market participants, and products and services in the market to ensure their consistency with securities laws, regulations, policies, and global best practices;
•	Review regulatory frameworks for the securities industry, conduct market-related research, and recommend rules and/or reforms, in coordination with other offices;
•	Review regulatory frameworks for the securities industry, conduct market-related research, and recommend rules and/or reforms, in coordination with other offices;
•	Support the establishment of linkages with national and international organizations, and regulatory agencies with regard to the securities market, including cross-border products, services, and agreements;
•	Lead the operations of the Commission as National Numbering Agency for all securities issued in the Philippines;
•	Recommend the Issuance of show cause orders, assessment letters and recommendations for imposition of penalties for noncompliance with the rules and regulations implemented by the Division;
•	Monitor developments in the securities markets, and discharge other functions necessary to facilitate capital formation, to maintain fair, orderly and efficient markets, to protect investors and to prevent systemic risks;
•	Coordinate with other divisions on all matters pertaining to the functions of the said division;
•	Support the sustainability initiatives of the Commission;
•	Propose innovations and enhancement of existing systems, processes and procedures relative to the functions of the division; and
•	Perform tasks and activities to carry out the functions of the Department and/or as may be directed by the Director.
Audit and Compliance Examination Division
The Audit and Compliance Examination Division (ACED) shall perform the following functions:
•	Conduct risk-based inspection and examination of the following market participants to ensure market integrity and support responsible capital formation:
	•	issuers of equity securities, bonds, commercial papers, real estate investment trusts, and other alternative investment products;
	•	operators of securities markets and market institutions such as exchanges, alternative trading systems, over-the-counter markets, and other trading markets, SROs, clearing agencies, securities lending agencies, securities depositories, custodians, transfer agents, central trade reporting systems, registrars of qualified buyers, and other securities-related organizations;
	•	intermediaries and market professionals such as brokers, dealers, government securities eligible dealers, government securities brokers, investment houses, underwriter of securities, investment company advisers, REIT fund managers, mutual fund distributors, investment advisers, compliance officers and certified investment solicitors of investment company advisers/mutual fund distributors, and other securities market participants;
	•	other market participants and persons relative to the products and services they offer in the securities market such as fintech applications, crowdfunding intermediaries, crowdfunding portals, digital assets, derivatives, and commodity futures; or
	•	other market participants that may be recognized as such by the Commission, in accordance with SRC and its IRR.
•	Conduct continuous oversight and inspection to determine compliance of market participants with securities laws, regulations, policies, and global best practices to protect the investing public;
•	Organize and conduct outreach events/fora, conferences, meetings and consultations with registrants, directors, officers, and other stakeholders in relation to the audit and examination activities of the Division;
•	Issue audit reports, recommend corrective actions and/or issuance of show cause orders, cease and desist orders, assessment letters and imposition of penalties for violation or noncompliance with the rules and regulations implemented and policy reforms based on the result of audit and examination activities of the Division;
•	Recommend issuance of comment letters against registrants and evaluate replies to comment letters based on the result of audit and examination activities of the Division;
•	Review letters, memos and recommendations in reply to requests and correspondences received by the Division;
•	Represent the Division in Technical Working Groups as may be directed by the Assistant Director and/or Director;
•	Represent the Division on matters regarding technical and regulatory issues with other offices, securities markets, market institutions, intermediaries and other domestic and foreign agencies, as may be directed by the Director and/or Assistant Director;
•	Review proposed rules of self-regulatory organizations and other market participants, and products and services offered in the securities market, in coordination with other offices, to ensure their consistency with securities laws, regulations, policies, and global best practices;
•	Review regulatory frameworks of the securities industry, market-related research and recommend rules and/or reforms in coordination with other offices;
•	Evaluate the overall activities to ensure achievement of the Division’s targets based on success indicators and provide coaching and mentoring as needed;
•	Provide overall direction in administrative and personnel matters of the Division;
•	Coordinate with other divisions on all matters pertaining to the functions of the Division;
•	Monitor developments in the securities markets, and discharge other functions necessary to facilitate capital formation, to maintain fair, orderly and efficient markets, to protect investors and prevent systemic risks;
•	Support the sustainability initiatives of the Commission; and
•	Propose innovations and enhancement of existing systems, processes and procedures relative to the functions of the division.
Office for the Advancement of Strategic Investments in Small and Medium Enterprises (OASIS)
The Office for the Advancement of Strategic Investments in Small and Medium Enterprises (OASIS) shall perform the following functions:
•	Promote capital market financing options for micro, small- and medium-sized enterprises and start-ups (“SMEs”) and encourage support from financial institutions and investors;
•	Streamline the registration process for securities and other alternative investment products issued for or offered by SMEs through the standardization of the products, requirements and procedures;
•	Formulate and conduct SME-focused institutional capacity building and financial literacy programs;
•	Establish an SME-focused capital market-related database for the assessment of market trends and their potential impacts to SMEs;
•	Assist SMEs and their investors in handling significant institutional and regulatory issues they may have with the Commission, and other regulatory agencies;
•	Review regulatory frameworks for the securities industry relative to SMEs, and recommend reforms as necessary;
•	Coordinate with other divisions on all matters pertaining to the functions of the said division;
•	Represent the Division on matters regarding technical and regulatory issues with other offices, in relation to promotion of capital market financing options for SMEs in coordination with other offices as may be assigned by the Director;
•	Monitor developments in the securities markets, and discharge other functions necessary to facilitate capital formation, to maintain fair, orderly and efficient markets, and to protect investors and to prevent systemic risks;
•	Support the sustainability initiatives of the Commission; and
•	Propose innovations and enhancement of existing systems, processes and procedures relative to the functions of the division.

Corporate Governance and Finance Department

DEPARTMENT’ FUNCTIONS
The Corporate Governance and Finance Department (CGFD) harnesses the potential of the corporate sector to contribute to national and global development goals by promoting good governance and sustainability, among others. It also promotes financial inclusion by supporting the development of collective investment schemes, and lending and financing activities, while upholding the rights of borrowers and other financial consumers. Specifically, the CGFD shall, among others:
•	Process the registration of securities issued by investment companies, such as mutual fund companies (MFCs) and closed-end companies, Exchange-Traded Funds (ETFs), and issuers of proprietary and non-proprietary securities;
•	Process the application for licenses of investment companies, and accredit microfinance non-government organizations (NGOs);
•	Process the application of accreditation of Corporate Governance Institutional Training Providers (CG-ITP), and approve in-house corporate governance trainings and seminars of publicly listed companies;
•	Monitor the compliance of Publicly-Listed Companies (PLCs), Public Companies (PCs), Investment Companies, ETFs, Issuers of Proprietary and Non-Proprietary Securities, Foundations, Accredited Microfinance NGOs (MF-NGO), and recognized foreign CIS offered in the Philippines under the ASEAN CIS Framework with existing laws and regulations, including corporate governance rules, when applicable;
•	Validate the qualifications of independent directors in PLCs, PCs, and other registered issuers of securities;
•	Process the applications for accreditation of MF-NGOs and make a recommendation for approval or denial to the Microfinance NGO Regulatory Council (MNRC);
•	Promote sustainability and good corporate governance practices and principles;
•	Promote Ease of Doing Business (EODB) in the country through policy issuances that protect minority investors;
•	Participate in the initiatives of local and international standard setting bodies or multilateral agencies such as, but not limited to, the Asia-Pacific Economic Cooperation, ASEAN Capital Markets Forum, Organization for Economic Cooperation and Development, World Bank, International Monetary Fund, Asian Development Bank, and International Organization of Securities Commissions;
•	Participate in Congressional hearings on proposed bills affecting the Department, as well as in inter-agency and private sector meetings or consultations; and
•	Issue show cause orders, impose sanctions and penalties, assess and collect fines for noncompliance with the laws, policies, rules and regulations being enforced and implemented by the Department.
Licensing Division
The Licensing Division (LD) shall perform the following functions:
•	Process applications for licenses for Investment Companies under the Investment Company Act;
•	Process applications for the registration of securities of investment companies, ETFs, and issuers of proprietary and non-proprietary certificates/shares and timeshares;
•	Pre-evaluate and process applications for the authorization of investment companies to offer securities cross-border, and applications for the recognition of foreign collective investment schemes (CIS) which intend to offer securities in the Philippines pursuant to the ASEAN CIS Framework;
•	Process applications for the amendment of registration statements of investment companies, and issuers of proprietary and non-proprietary membership certificates/shares and timeshares;
•	Process requests for exemptive relief, confidential treatment and other requests related to licensing, registration of securities and amendment of registration statement applications;
•	Process applications from investment companies to qualify as an ASEAN Sustainable and Responsible Fund (SRF);
•	Process applications from investment companies to qualify as an ASEAN Sustainable and Responsible Fund (SRF);
•	Process applications for confirmation of securities to be offered and sold by Corporate Debt Vehicles (CDVs) to target investors as exempt transactions;
•	Formulate policies and draft rules relevant to the regulation of investment companies, issuers of proprietary and non-proprietary membership certificates/shares and timeshares, and public companies;
•	Provide technical assistance or comments in the study of proposed laws, regulations or other matters affecting companies under the supervision of the Division;
•	Participate in meetings, consultations and other initiatives with local and international agencies related to companies under the supervision of the Division;
•	Conduct roundtable discussions and briefings with the industries and companies under the supervision of the Division regarding proposed and newly issued rules;
•	Review articles of incorporation and bylaws of registered and prospective issuers of securities, as well as those of ordinary corporations endorsed by the Company Registration and Monitoring Department (CRMD);
•	Monitor the websites of registered issuers of securities to ensure full and effective disclosure of their registration statements and amended registration statements;
•	Monitor the compliance of investment companies, issuers of proprietary and nonproprietary membership certificates/shares and timeshares, and PCs, including beneficial owners of more than five percent (5%) or ten percent (10%), directors and officers, with their reportorial requirements under the Securities Regulation Code, the Revised Corporation Code of the Philippines, the Investment Company Act, their implementing rules and regulations; and other applicable laws, rules and regulations;
•	Monitor the compliance of recognized foreign CIS offered in the Philippines with their reportorial requirements pursuant to the ASEAN CIS framework;
•	Evaluate and review reports such as the annual reports, audited financial statements, quarterly reports, current reports filed by investment companies, issuers of proprietary and non-proprietary, public companies and other reporting persons;
•	Evaluate Preliminary and Definitive Information Statements submitted by companies under the supervision of the Division;
•	Conduct on-site or virtual audits and ocular inspections of companies under the supervision of the Division;
•	Process the suspension or and revocation of the primary or secondary licenses of companies under the supervision of the Division, and conduct clarificatory conferences as needed;
•	Process requests for voluntary revocation of securities registration;
•	Process requests for monitoring of investment companies, issuers of proprietary and nonproprietary, and PCs with regard to their requests for a certificate of good standing, and applications for the amendment of their articles of incorporation and bylaws with the CRMD;
•	Process requests for comments on monitored companies in connection with applications for accreditation of external auditors filed with the Office of the General Accountant;
•	Process requests for certification as to whether a company is a registered issuer of securities (i.e., mutual funds, proprietary and non-proprietary) pursuant to Sections 8 and 12 of the Securities Regulation Code;
•	Handle queries and process requests for reduction of penalty, motion for reconsideration, and other requests filed by covered companies;
•	Review tender offer reports filed by persons who intend to acquire outstanding equity securities of a public company;
•	Handle complaints against covered companies;
•	Handle complaints and adjudicate actions filed against covered institutions pursuant to the Financial Products and Services Consumer Protection Act of 2022 (FCPA) and its Implementing Rules and Regulations;
•	Handle appeals to the Commission En Banc; and
•	Process requests for approval of promotional activities involving investment companies.
Monitoring, Compliance and Audit Division
The Monitoring, Compliance and Audit Division (MCAD) shall perform the following functions:
•	Recommend, draft, and participate in the research, development and approval of policy measures to promote and ensure the efficient supervision and monitoring of SEC-registered Foundations and MF-NGOs accredited under Republic Act No. 10693, otherwise known as the Microfinance NGOs Act, and other related industries;
•	Monitor the compliance of Foundations and accredited MF-NGOs under the supervision of the Division with existing laws, rules and regulations;
•	Process applications for accreditation of MF-NGOs under the Microfinance NGOs Act and make a recommendation for approval or denial of such application to the Microfinance NGO Regulatory Council (MNRC);
•	Act as the MNRC Secretariat to provide other technical and administrative support, i.e. nomination and selection of private sector representatives, and such other tasks as the MNRC Chairperson may deem necessary;
•	Process applications for clearance of Foundations and accredited MF-NGOs under the supervision of the Division;
•	Review applications for amendments to the Foundations and accredited MF-NGOs’ Articles of Incorporation and/or By-Laws as well as the relevant documents thereto;
•	Process requests and handle queries as to whether a company is a registered Foundation or accredited MF-NGOs;
•	Process/handle complaints filed against Foundations and accredited MF-NGOs with respect to the alleged violations of the laws, rules and regulations being implemented by the Commission and MNRC;
•	Participate and provide technical assistance and resource personnel in Congressional hearings on proposed bills affecting Foundations and accredited MF-NGOs;
•	Participate, and provide technical assistance and resource personnel, as well as serve as the middleman in international and domestic inter-agency initiatives and multi-sectoral, e.g. government and private sector, meetings concerning Foundations and accredited MF-NGOs;
•	Conduct/participate orientations, webinars/seminars, technical working group (TWG) workshops, briefings, training, roundtable discussions, consultations and other fora relative to Foundations and accredited MF-NGOs;
•	Educate Increase awareness of the public sector about relevant laws, regulations, and circulars through the distribution of informative and comprehensible resources that aim to increase awareness and understanding of compliance requirements, prevent violations and promote compliance with said rules and regulations, while simultaneously cultivating positive relationships with stakeholders by easing the difficulties associated with compliance;
•	Liaise and coordinate with Extension Offices in order to consistently perform functions on a matter of mutual concern;
•	Conduct clarificatory conferences as necessary;
•	Conduct hearings for the suspension or revocation of the primary registration of Foundations;
•	Suspend and revoke the primary license of delinquent Foundations;
•	Recommend the suspension and revocation of the certificates granted in favor of MF-NGOs that no longer comply with the continuing accreditation requirements of the MNRC;
•	Process requests for exemptive relief, reduction, condonation of imposed penalties for just cause in lieu of monetary payment, suspension and/or revocation of primary registration;
•	Handle appeals to the Commission En Banc or Supervising Commissioner (if under delegated authority) and such other requests made by the supervised companies;
•	Pre-evaluate and review the report/memorandum relative to requests for reduction and payment in installment of Foundations under the territorial jurisdiction of the Extension Offices, for clearance to be approved by the Supervising Commissioner;
•	Evaluate and review reports such as the audited financial statements (AFS), Non-stock, nonprofit organization (NSPO) Forms, Certificates of Existence of Program/Activity (COEP) issued by government offices/entities and notarized COEPs issued by heads/officers of private institutions or actual beneficials of the program/activity, and General Information Sheet (GIS) of registered Foundations;
•	Evaluate and review reports such as AFS, NSPO Forms, COEPs, GIS, Special Form of Financial Statements for Accredited MF-NGOs (SFFS), Loan Portfolio and Aging Report, Operations Report, and Report Card Template (RCT) of accredited MF-NGOs;
•	Issue show cause letters, assessment letters and collect fines/penalties for non-compliance with the laws, policies, rules and regulations being enforced and implemented by the Division;
•	Design of a risk-based audit programme;
•	Conduct on-site or virtual audit or examination of Foundations and accredited MF-NGOs to ensure their compliance with the requirements set forth in the laws, rules and regulations implemented by the Commission and to verify whether or not the covered companies made any misrepresentation and/or misstatement in the reports filed with the Commission;
•	Prepare comprehensive audit reports and recommend corrective actions, sanctions and policy reforms; and
•	Gather data and maintain records, through surveys, interviews, focus group discussions, observations, and data analysis, in order to identify patterns, trends, and insights to be used in decision-making and policy development, to monitor the effectiveness of existing programs, and to create reports and publications that may be disseminated to other government agencies, stakeholders, and the public, within the bounds of existing laws and regulations on data privacy.
Corporate Governance Division
The Corporate Governance Division (CGD) shall perform the following functions:
•	Recommend and draft policy measures to promote corporate governance including, among others, Codes of Corporate Governance, Rules on Material Related Party Transactions, and Sustainability Reporting Guidelines, especially in relation to climate change mitigation;
•	Monitor the compliance of PLCs, PCs, investment companies, ETFs, and issuers of proprietary and non-proprietary securities with the CG Code for PLCs, Code of Corporate Governance for Public Companies and Registered Issuers, RCCG, and other corporate governance issuances of the Commission;
•	Determine the compliance of PLCs, PCs, investment companies, ETFs, issuers of proprietary and non-proprietary securities with Rule 38 of the Implementing Rules and Regulations of the Securities Regulation Code;
•	Act as secretariat of the ASEAN Capital Markets Forum Working Group on matters pertaining to corporate governance;
•	Gather data/research and prepare presentation materials/speeches/remarks in relation to the functions as the secretariat of the ASEAN Capital Markets Forum Working Group on matters pertaining to corporate governance;
•	Process the accreditation of CG-ITPs;
•	Process the applications of in-house corporate governance trainings and seminars;
•	Monitor the compliance of CG-ITPs with the Commission’s requirements, including observation of trainings conducted;
•	Participate in inter-agency and private sector meetings or consultations, regional and local, related to corporate governance;
•	Respond to corporate governance-related complaints;
•	Promote sustainability and good corporate governance practices and principles;
•	Promote EODB in the country through the protection of minority investors;
•	Participate in meetings or consultations with local and international agencies that promote sustainability and good corporate governance practices and principles;
•	Participate in Congressional hearings on proposed bills related to corporate governance matters;
•	Conduct workshops, roundtable discussions and forum on corporate governance and sustainability;
•	Gather data/research, and prepare presentation materials/speeches/remarks in relation to corporate governance/sustainability-related workshops, roundtable discussions, and forum on corporate governance and sustainability;
•	Process requests for the issuance of monitoring clearance of covered corporations;
•	Process requests for exemptive relief on CG matters;
•	Handle queries and process requests for reduction of penalty, motion for reconsideration, and other requests filed by covered companies; and
•	Review applications for the registration of new companies, as well as for amendments of articles of incorporation and bylaws.

Company Registration and Monitoring Department

DEPARTMENT’ FUNCTIONS
The Company Registration and Monitoring Department (CRMD) facilitates business formation and ensures the ease of doing business in the Philippines by implementing an efficient and reliable company registration and monitoring system. Specifically, the CRMD shall, among others:
•	Register domestic corporations and partnerships; grant licenses to multinational companies and foreign corporations doing business in the Philippines; grant secondary licenses to lending and financing companies, and capital market participants;
•	Process applications for amendment of articles of incorporation/articles of partnership, bylaws, increase/decrease of capital mergers and consolidations;
•	Maintain custody over registration documents and other documents, acted upon by or directly filed with the Department;
•	Monitor the compliance of registered domestic/licensed foreign corporations with their reportorial requirements under the Revised Corporation Code of the Philippines, and other applicable laws, rules and regulations;
•	Issue show cause orders, impose sanctions and penalties, assess and collect fines for noncompliance with the laws, policies, rules and regulations being enforced and implemented by the Department;
•	Suspend and revoke the certificates of incorporation and put under delinquent status of domestic corporations, and the licenses of foreign corporations to do business in the Philippines for noncompliance with their reportorial requirements and other grounds provided by law;
•	Hear and decide administrative cases within the Department’s jurisdiction;
•	Attend as witness court in hearings and processes or as a resource person in inter-agency meetings, and provide corporate records to other government agencies; and
•	Undertake special studies on issues relating to the registration and monitoring of corporations, upon the request of government agencies and instrumentalities, and other interested persons; and develop and recommend policies pertaining to the registration and monitoring of corporations and licensed foreign corporations.
Corporate and Partnership Registration Division
The Corporate and Partnership Registration Division (CPRD) shall perform the following functions:
•	Process the applications for registration of domestic corporations (stock, non-stock and foreign owned corporations) including lending and financing companies and partnerships;
•	Process the applications for licensing of foreign corporations, such as branch offices, representative offices, regional area headquarters and regional operating headquarters;
•	Post-audit evaluation of approved ONESEC and eSPARC Regular Processing registration applications;
•	Process applications for amendment of domestic and foreign owned stock corporations, nonstock corporations and partnerships;
•	Process applications for conversion of one-person corporation (OPC) to ordinary stock corporation (OSC) or conversion of ordinary stock corporation to one-person corporation (OPC);
•	Process applications for increase of capital stock for one-person corporation (OPC) where the payment for subscription is cash;
•	Process applications for Foreign Investments Act (FIA) – increase in foreign equity;
•	Process applications for Conversion of domestic market enterprise to export market enterprise and vice versa;
•	Process Enabling Resolution applications;
•	Process applications pertaining to the legal aspects for Merger and Consolidation focusing on matters within the jurisdiction of the Division, as endorsed by the Financial Analysis and Audit Division (FAAD);
•	Process applications pertaining to the legal aspects for Increase/Decrease of authorized capital stock through subscription contracts or payment of subscriptions is cash, as endorsed by the Financial Analysis and Audit Division (FAAD);
•	Process applications pertaining to the legal aspects for change in par value, conversion, reclassification and declassification of shares, as endorsed by the Financial Analysis and Audit Division (FAAD);
•	Process voting trust agreements;
•	Process applications for dissolution by shortening the corporate term under Section 136 of the Revised Corporation Code where the proposed expiration of corporate term is one (1) year or more than one (1) year;
•	Process applications for dissolution of partnership;
•	Process application for withdrawal of foreign corporations or multinational companies’ licenses; and
•	Process applications for appointment/substitution of resident agent of foreign corporations or multinational companies.
Financial Analysis and Audit Division
The Financial Analysis and Audit Division (FAAD) shall perform the following functions:
•	Process applications for corporate reorganization, including increases or decreases of authorized capital stock, equity restructuring, creation of additional paid-in capital, merger and consolidations, valuation, quasi-reorganization, creation of bonded indebtedness, and reclassifications/ declassification/ conversion of shares/ change in par value;
•	Confirm and certify the paid-up capital, capital structure, percentage of ownership, and partners’ contribution, as declared to the Commission;
•	Acknowledge the declaration of cash and stock dividend, and approve the declaration of property dividend;
•	Evaluate the financial condition of domestic corporations applying for dissolution; and of foreign corporations applying for license to establish branch and representative offices in the Philippines; withdrawal of licenses; conversion of representative to branch office or branch to representative office; and
•	Evaluate the valuation of the consideration of the registrant where the payment for the subscription is other than cash.
Corporate Filing and Records Division
The Corporate Filing and Records Division (CFRD) shall perform the following functions:
•	Verify and reserve proposed corporate, partnership or business names for Registration and Amendment applications;
•	Attend Court hearings as a witness and a resource person who can provides other government agencies with information pertaining to documents of all registered corporations and partnerships;
•	Facilitate the Registration of Stock and Transfer Books and Membership Books;
•	Safeguard and maintain the official physical records of the Department which are available for retrieval upon request;
•	Issue Certificates of No Derogatory Information to corporations and partnerships;
•	Issue Certificates of Corporate filing/Information for corporate status and other matters that concern the official records;
•	Issue Certificates of Non-Registration for entities that are not registered with the Commission;
•	Issue above-mentioned certifications upon the request of SEC internal users, other government agencies, and courts;
•	Print Certificates for newly registered corporations and partnerships;
•	Verify the legitimacy of the registration of corporations, partnerships and businesses;
•	Facilitate the Receiving and Releasing of applications and Petitions relating to the Department’s functions;
•	Approve the releasing of Registration and Amendment applications;
•	Keep records of corporations that filed Memorandum Circular No. 22 series of 2020 pertaining to the Retention of Corporate Term;
•	Authenticate copies and documents on file with the Commission upon request of other government agencies, courts and SEC Internal Users;
•	Issue Certifications (such as Certification of No Derogatory Information, Certification of Non-Registration and Certificate of Corporate Filing/Information) upon request of other government agencies, courts and SEC Internal Users;
•	Issue Certifications (such as Certification of No Derogatory Information, Certification of Non-Registration and Certificate of Corporate Filing/Information) upon request of other government agencies, courts and SEC Internal Users;
•	Appoint Registration and Amendment applications for releasing;
•	Oversee the operations of the SEC Satellite Office located at Robinsons Galleria which functions solely as an application Receiving and Releasing Unit;
•	Receive documents for file/storage at SEC Offsite located in Baesa, Quezon City;
•	Oversee the operations of SEC Offsite in Baesa, Quezon City which serve as the storage area of all records of registered corporations;
•	Facilitate retrieval at corporate records being requested by various units/departments of the Commission; and
•	Coordinate with all SEC Satellite Offices regarding issues concerning official documents/records.
Compliance Monitoring Division
The Compliance Monitoring Division (CMD) shall perform the following functions:
•	Monitor the submission of the reportorial requirements of domestic stock and nonstock corporations, and licensed foreign corporations, particularly their branch offices, representative offices, regional area headquarters and regional operating headquarters;
•	Encode to the Commission’s Certificate Issuance System – Unified Reference Database updated compliance of companies with their reportorial requirements;
•	Ensure the compliance of licensed foreign corporations with the required securities deposit for branch offices and inward remittances for regional operating headquarters;
•	On motu propio basis, declares delinquent and revoke the certificates of incorporation domestic corporations and the licenses of foreign corporations for noncompliance with their reportorial requirements and other grounds provided by law;
•	Process Petitions for the Lifting of previously issued orders of revocation suspension/delinquency; Holds clarificatory conferences over corporations such as, but not limited to, annual reports and other submission, all in relation to its monitoring functions, etc.;
•	Verify status of a corporation as either registered, suspended, declared delinquent, revoked, dissolved, or expired;
•	Exercise jurisdiction over actions concerning the delinquent status of a corporation for becoming inoperative, after it has commenced its business, for a period of at least five (5) consecutive years, which include, but are not limited to, the following:
	•	Declaration of delinquent status of a corporation; and
	•	Petitions for the lifting of the order of declaration of delinquent status of a corporation;
•	Exercise jurisdiction over actions for the purpose of placing any corporation under delinquent status, revocation and other appropriate regulatory actions CMD-CRMD deems fit, in accordance with Section 177 of the Revised Corporation Code of the Philippines;
•	Exercise jurisdiction over actions for the purpose of placing any corporation under delinquent status, in accordance with Section 177 of the Revised Corporation Code of the Philippines;
•	Monitor corporations where there is more than one set of General Information Sheet (GIS);
•	Process requests for payment in installment or reduction of assessed penalties/fines;
•	Verify and receives compliance with SEC Memorandum Circular No. 14, series of 2013, guidelines covering the use of properties that require ownership registration as paid-up capital; and
•	Verify completeness and sufficiency of compliances with SEC Memorandum Circular No. 28 series of 2020 and other SEC Memorandum Circulars in relation to Compliance and Monitoring Division’s function.
	•	Fraud in the procurement of certificate of registration;
	•	Continuous in operation for a period of at least five (5) years;
	•	Failure to file or register for a period of at least five (5) years (i) financial statements; and (ii) general information sheet;
	•	Failure to formally organize and commence its business within five (5) years from the date of its incorporation;
	•	Failure of a delinquent corporation to resume operations and comply with all the requirements within two (2) years from the declaration of its delinquent status;
	•	Failure to comply with an order of the CRMD Director or any authorized representative; and
	•	Other violations of law, rules or regulations specifically designated by the Commission En Banc to be implemented by the CRMD;
•	Exercise jurisdiction over petitions concerning the articles of incorporation, bylaws, certificates of approval thereof, and other registration or reportorial requirements of ordinary corporations, which do not involve violation of laws, and rules such as, but not limited to, the following:
	•	Correction of entries therein; and
	•	Matters with respect to the payment in the form of property other than cash for the subscription of shares that is used as part of the paid-up capital of a corporation referred to by FAAD;
•	Exercise jurisdiction over petitions for the inspection of corporate books under Section 73 of the Revised Corporation Code of the Philippines, and actions in the filing, investigation, and resolution of complaints for violation of the right to inspect and/or reproduce corporate records;
•	Exercise jurisdiction over petitions for the revival of a corporation with expired corporate term;
•	Exercise jurisdiction over petitions for dissolution where no creditors are affected;
•	Exercise jurisdiction over petitions for disqualification of Directors, Trustees and Officers of the Corporation; and
•	Act on endorsed findings by the FAAD concerning misrepresentation or possible fraud in the articles of incorporation/amended articles of incorporation in relation to items in financial statements.
Corporate Adjudication Division
The Corporate Adjudication Division (CAD) shall perform the following functions:
•	Exercise jurisdiction over petitions for revocation of certificate of registration arising from, any of the following grounds:
•	Exercise jurisdiction over petitions for revocation of certificate of registration arising from, any of the following grounds:

Enforcement and Investor Protection Department

DEPARTMENT’ FUNCTIONS
The Enforcement and Investor Protection Department (EIPD) ensures strict compliance by all market participants, issuers and individuals with the laws, rules and regulations implemented by the Commission, and take prompt and appropriate enforcement actions for violations thereof. Specifically, the EIPD shall, among others:
•	Investigate, motu proprio or upon complaint or referral, violations of the laws, rules and regulations administered and enforced by the Commission, including rules and regulations on anti-money laundering (AML) and combating the financing of terrorism (CFT);
•	Conduct surveillance of trading of securities in exchanges and ensure the compliance of market participants and intermediaries with Sections 24, 26 and 27 of the Securities Regulation Code and its implementing rules and regulations, and in pursuance thereof, coordinate with self-regulatory organizations such as The Philippine Stock Exchange, Inc., Philippine Dealing and Exchange Corp. and Capital Markets Integrity Corporation; market participants such as trading participants, investment houses, and transfer agents; Philippine Depository and Trust Corp; and law enforcement agencies such as the National Bureau of Investigation, Philippine National Police – Crime Investigation and Detection Group, and Anti-Money Laundering Council (AMLC);
•	Initiate the issuance of cease and desist orders by the Commission, and act on petitions for revocation of corporate registration in all cases, except those which fall under the original authority of the Company Registration and Monitoring Department (CRMD);
•	Issue show cause orders, impose sanctions and penalties, assess and collect fines for noncompliance with the laws, policies, rules and regulations being enforced and implemented by the Department;
•	Evaluate and act on settlement offers proposed in writing by parties being investigated and/or charged;
•	File administrative and criminal complaints before the appropriate offices, and assist in the prosecution or litigation of violations of laws, rules and regulations enforced by the Commission, as well as appeals pending before the courts involving the decisions or orders issued by the Commission;
•	Enforce all rules and regulations promulgated by the Commission to tackle money laundering, terrorist financing, and proliferation of weapons of mass destruction, and act on all matters pertaining to the compliance of SEC-covered persons with the Anti-Money Laundering Act, as amended;
•	Conduct AML/CFT audits and examinations in coordination with the Markets and Securities Regulation Department, Corporate Governance and Finance Department, and CRMD, and refer its findings to the AMLC for prosecution and other appropriate actions;
•	Serve as the focal office for AML/CFT matters, and act on all requests made by the AMLC pursuant to the Commission’s agreements with the AMLC;
•	Act on requests for assistance from, and coordinate with, members of the International Organization of Securities Commissions (IOSCO) and other foreign securities regulators;
•	Represent the Commission in all matters relating to IOSCO, National Law Enforcement Coordinating Committee (NALECC) and other related organizations, particularly the concerned law enforcement agencies and its subcommittees; and
•	Provide investor assistance, and develop and undertake programs to promote investor protection, including the issuance of advisories.
Market Surveillance Division
The Market Surveillance Division (MSD) shall perform the following functions:
•	Conduct surveillance of the trading of securities in the exchanges and ensure the compliance of market participants and intermediaries with Sections 24, 26 and 27 of the Securities Regulation Code (SRC) and its implementing rules and regulations (IRR);
•	Conduct surveillance of the trading of securities in the exchanges and ensure the compliance of market participants and intermediaries with Sections 24, 26 and 27 of the Securities Regulation Code (SRC) and its implementing rules and regulations (IRR);
•	Prepare investigation and/or surveillance reports with findings and recommendations with supporting documentary and other evidence concerning any violations of Sections 24, 26 and 27 of the SRC and its IRR, and refer the same to the Investigation and Prosecution Division (IPD) for evaluation and appropriate action;
•	Prepare investigation and/or surveillance reports on persons or entities engaging in or are about to engage in any act or practice constituting a violation of any rule of an exchange, trading market, registered securities association, clearing agency, and other self-regulatory organizations (SRO) in the event that such exchange or SRO is unable or unwilling to take action against the persons or entities;
•	Prepare investigation and/or surveillance reports on persons or entities engaging in or are about to engage in any act or practice constituting a violation of any rule of an exchange, trading market, registered securities association, clearing agency, and other self-regulatory organizations (SRO) in the event that such exchange or SRO is unable or unwilling to take action against the persons or entities;
•	Coordinate with The Philippine Stock Exchange, Inc., Philippine Dealing and Exchange Corporation, Capital Markets Integrity Corporation, SROs and capital market participants in gathering evidence or obtaining information on market manipulation, insider trading and/or fraudulent transactions in connection with the purchase or sale of securities;
•	Act on requests for assistance from the members of the International Organization of Securities Commissions (IOSCO) and other foreign securities regulators;
•	Prepare and recommend to the Commission En Banc the posting of advisories on matters concerned with the trading of securities in the exchanges and trading markets, and with violations of Sections 24, 26 and 27 of the SRC; and
•	Assist the IPD in actively prosecuting criminal cases before the Department of Justice and the courts.
Investigation and Prosecution Division
The Investigation and Prosecution Division (IPD) shall perform the following functions:
•	Investigate and hear, motu proprio or upon complaint or referral, all cases involving violations of the laws, rules and regulations being implemented by the Commission;
•	Investigate and hear, motu proprio or upon complaint or referral, all cases involving violations of the laws, rules and regulations being implemented by the Commission;
•	Investigate and hear, motu proprio or upon complaint or referral, all cases involving violations of the laws, rules and regulations being implemented by the Commission;
•	Draft orders, resolutions or decisions for the imposition of fines and other appropriate administrative sanctions for violations of the laws, rules and regulations enforced by the Commission;
•	Refer to the Special Operations Division (SpecOps) cases for the conduct of surveillance and/or on-site inspections of entities, as may be necessary to on-going investigations;
•	Initiate the issuance of cease and desist orders by the Commission;
•	File criminal complaints before the Department of Justice, and actively prosecute, or assist public prosecutors in prosecuting, criminal cases for violations of the Securities Regulation Code (SRC) and its implementing rules and regulations, and all other criminal cases involving the Commission as complainant;
•	Prepare and file the necessary pleadings as required in administrative and criminal cases;
•	Prepare and recommend to the Commission En Banc the posting of advisories on matters necessary for the protection and information of the investing public;
•	Evaluate settlement offers proposed in writing by parties being investigated and/or charged;
•	Act on petitions for revocation of corporate registration in all cases, except those which fall under the original authority of the Company Registration and Monitoring Department; and
•	Prepare writs of execution to enforce the provisions of Section 54 of the SRC and to enforce the payment of the fees and other dues collectible under said section.
Special Operations Division
The Special Operations Division (SpecOps) shall perform the following functions:
•	Conduct undercover and surveillance operations and on-site inspections, upon request or referral by the Investigation and Prosecution Division (IPD) or as assigned by the director of the Department, of entities involved in violations of the Securities Regulation Code (SRC), the Revised Corporation Code of the Philippines, and other laws, rules and regulations administered by the Commission;
•	Conduct surveillance of the public offering and exchanges of unregistered securities in all forms, including commodities futures contracts done through the internet, to determine whether any person has violated or is about to violate any provisions of the SRC, or any rule, regulation or order issued thereunder;
•	Prepare investigation and/or surveillance reports with findings of facts, conclusions of law and recommendations with supporting documentary and other evidence of violations of the SRC and its implementing rules and regulations, and refer the same to the IPD for evaluation and appropriate action;
•	Coordinate with the anti-cybercrime units of law enforcement agencies in gathering electronic evidence of violations of the SRC and other laws enforced by the Commission done through the internet;
•	Provide investor assistance, and develop and undertake programs to promote investor awareness including recommending to the Commission En Banc the issuance of advisories;
•	Investigate and hear cases assigned to him/her involving violations of the laws, rules and regulations being implemented by the Commission;
•	Prepare show cause orders, corrective action or sanction letters for non-compliance with legal and regulatory requirements of the Commission;
•	Prepare written work output including investigation reports, affidavits, memoranda, order, resolutions, decisions, and other issuances of the Department;
•	Attend regular meetings of the National Law Enforcement Coordinating Committee (NALECC) as representative of the Commission, and act on all requests made by the NALECC members; and
•	Assist the IPD in actively prosecuting criminal cases before the Department of Justice and the courts.
Anti-Money Laundering Division
The Anti-Money Laundering Division (AMLD) shall perform the following functions:
•	Act as the focal office for anti-money laundering (AML) and combatting the financing of terrorism (CFT) initiatives and concerns, and coordinate directly with the Anti-Money Laundering Council (AMLC) for the enforcement of laws, rules and regulations tackling money laundering and terrorism financing;
•	Act on all matters pertaining to the compliance of SEC-covered persons with the Anti-Money Laundering Act, as amended, and the related rules and regulations issued by the Commission;
•	Review the AML Operating Manuals of applicants for registration and/or secondary license, as referred to the Division by the Company Registration and Monitoring Department (CRMD), Markets and Securities Regulation Department (MSRD) and the Corporate Governance and Finance Department (CGFD), and make the appropriate recommendations thereon;
•	Review and recommend to the Commission En Banc the proposed AML/CFT-related rules of self-regulatory organizations and other market participants;
•	Prepare and recommend to the Commission En Banc the posting of advisories on AML/CFT related matters;
•	Plan and conduct AML/CFT audits and examinations in coordination with the MSRD, CGFD, and CRMD, and refer its findings of money laundering and/or terrorist financing to the AMLC for prosecution and other appropriate action;
•	Investigate and hear, motu proprio, or upon complaint or referral, violations of the rules and regulations of the Commission concerning AML/CFT matters;
•	Prepare reports of violations committed by SEC-registered entities registered of AML/CFT rules and regulations, and refer the same to the Investigation and Prosecution Division for the initiation of revocation proceedings of their certificates of registration;
•	Prepare orders or decisions for the imposition of fines or other administrative sanctions for violations of the rules and regulations of the Commission on AML/CFT matters in accordance with Sec. 54.1(a) of the Securities Regulation Code (SRC);
•	Prepare and file criminal complaints for violation of the rules and regulations promulgated by the Commission on AML/CFT matters in accordance with Section 73 of the SRC;
•	Prosecute criminal complaints for violation of the rules and regulations of the Commission on AML/CFT matters before the Department of Justice and the courts;
•	Act as resource center for investors and other government agencies on AML/CFT-related matters; and
•	Act on requests for assistance from the members of the International Organization of Securities Commissions (IOSCO) and other foreign securities regulators on AML/CFT matters.
International Affairs and Protocol Division
The International Affairs and Protocol Division (IAPD) shall perform the following functions:
•	Pursue applications to international organizations with thrusts beneficial to the Commission;
•	Perform liaison work with other government agencies, international organizations, and other entities, as necessary;
•	Nominate appropriate technical personnel to represent the Commission in meetings concerning international affairs;
•	Attend meetings, workshops and seminars in relation to international affairs alongside the concerned technical personnel;
•	Keep an updated record of actions and participation by the Commission in matters under the purview of the Division, including, but not limited to, slide presentations, detailed notes and other documentation of meetings and workshops and seminars;
•	Recommend actions that the Commission may take, in line with continued participation in matters under the purview of the Division; and
•	Facilitate the process of securing authority to travel for official engagements of officials and employees outside the country.
Cyber and Forensics Division
The Cyber and Forensics Division (CFD) shall perform the following functions:
•	Monitor and conduct surveillance operations on social media and other online platforms, for the purpose of preventing and detecting securities fraud committed through the use of the internet, social media and access devices;
•	Determine evidence necessary in the prosecution of securities fraud committed through, and with the use of information and communication technology (ICT), secure court warrants for the search and seizure of such evidence, in coordination with law enforcement agencies, and undertake or assist in the conduct of digital forensics;
•	Conduct studies on securities fraud committed through the use of the internet, social media and access devices, including trend analyses as to the methods used by fraudsters and the demographics of victims and vulnerable sectors;
•	Formulate and implement strategies, action plans, and policy measures aimed at preventing securities cyber fraud and protect investors from such;
•	Inform and educate the public about the threat of securities fraud online, the red flags and modus operandi of perpetrators, and the ways and means by which investors can avoid them;
•	Promote cooperation among concerned organizations, including other local and foreign regulators and enforcement agencies, to combat securities fraud committed with the use of ICT;
•	Prevent and detect Securities Fraud committed through the use of the internet, social media and access devices;
•	Analyze methods used by violators to entice the public using the internet and social media;
•	Infiltrate social media networks;
•	Formulate and study ways and means to prevent securities cyber fraud for investor protection;
•	Determine and identify evidence needed to prove securities cyber fraud;
•	Authenticate and identify owners of social media accounts and websites;
•	Conduct public information and Advocacy;
•	Determine vulnerable stakeholders;
•	Identify vulnerable victims and inform them of the ways and means of potential offenders and how to avoid being a victim;
•	Determine new trends of securities fraud committed by, through and with the use of Information and Communication Technology (ICT);
•	Analyze programs and platforms for authenticity;
•	Combat rise in Securities Fraud through, by and use of ICT;
•	Maintain tight cooperation between concerned agencies to combat securities fraud with the use of ICT;
•	Address current threats of ICT based securities frauds;
•	Provide a safer securities and financial cyber community;
•	Monitor the market for ICT based Securities Fraud;
•	Conduct seizure and processing of digital evidence;
•	Conduct Digital Forensics and Investigation;
•	Conduct proactive internet investigation;
•	Conduct Digital Forensics Examination;
•	Collaborate with local and foreign regulators;
•	Determine authenticity of online identity/identities;
•	Collect digital media forensically examined;
•	Establish good practice between LEAs and foreign enforcement in other nations;
•	Determine Protocol address and IP Address; and
•	Apply for or work in coordination with LEAs for court warrants.

Economic Research and Training Department

DEPARTMENT’ FUNCTIONS
The Economic Research and Training Department (ERTD) harmonizes the strategic and operational plans of the Commission, and ensures their soundness and effectiveness through the collection, governance, and utilization of relevant empirical data. It also supports the Commission in developing the capital market and in protecting the investing public through partnerships and education initiatives. Specifically, the ERTD shall, among others:
•	Coordinate the formulation, monitoring and evaluation of the Commission’s strategic and operational plans;
•	Coordinate the Commission’s inputs to the national government’s socioeconomic development plans and reports;
•	Act as the focal department for matters pertaining to performance management and quality management programs of the Commission;
•	Coordinate the formulation and implementation of the annual research agenda of the Commission;
•	Act as the focal department for economic research and analysis;
•	Coordinate statistical compilation activities, and represent the Commission in inter-agency activities on statistical concerns;
•	Coordinate the conduct of capacity-building programs, and certification examinations for capital market professionals; and
•	Act as the focal department for the implementation of investor education programs for the general public.
Strategic Management and Planning Division
The Strategic Management and Planning Division (SMPD) shall perform the following functions:
•	Spearhead facilitation of the annual strategic planning process and the formulation of the strategic and operational plans;
•	Establish integration and alignment of the operational plans with the strategic plan in collaboration with SEC Departments and Offices;
•	Develop and implement a communication strategy to successfully cascade the strategic plan to all levels of the Commission and ensure its success through organizational development approaches and interventions;
•	Initiate and prompt the implementation of the operational plans;
•	Monitor and evaluate the progress of the implementation and accomplishment of the strategic and operational plans;
•	Spearhead facilitation of agency-wide risk assessment which will initiate the development of the En Banc’s risk management strategy;
•	Develop and maintain the SEC Quality Management System (QMS) and oversee its compliance with national and international standards;
•	Provide technical and secretariat support to the SEC Performance Management Team (PMT);
•	Organize representation of the Commission in national development planning activities and coordinate the Commission’s inputs to the national government’s development plans, programs, and reports;
•	Prepare the Commission’s agency-wide planning and performance reports to government oversight agencies and inter-agency bodies;
•	Prepare and publish the Commission’s Annual Reports and Sustainability Report; and
•	Provide secretariat services to the SEC Sustainability Committee with CGFD, HRAD, ICTD and FMD.
Company Analytics and Statistics Division
The Company Analytics and Statistics Division (CASD) shall perform the following functions:
•	Lead and coordinate the design and implementation of strategies, processes, policies, and procedures on the governance, collection, analysis, and interpretation of data relating to the capital market and corporate sector including other information assets;
•	Undertake activities related to the evaluation and ranking of corporations, and publish investment financial statistics based on information filed with the Commission;
•	Prepare and publish statistical and company analytics reports, and provide internal and external stakeholders relevant data and reports on the capital market and corporate sector;
•	Work closely with other SEC Divisions and Offices to design data structuring approaches for required disclosures and promote data analytics initiatives of the Commission;
•	Support the data collections and data usage by providing assistance in the designing of data governance policies, validation rules, data quality assessments, and tools for conducting data analyses;
•	Partner with internal and external stakeholders to deliver data analytics and statistical trainings programs; and
•	Represent the Commission in inter-agency activities involving statistics, and act as the Commission’s focal office for statistical concerns, and lead coordinator of data sharing arrangements with statistics compiler agencies.
Market Professionals and Investor Education Division
The Market Professionals and Investor Education Division (MPIED) shall perform the following functions:
•	Formulate policies and guidelines on the conduct of the SEC Certification Programs, such as module development, certification examinations, certification webinars/seminars, equivalency and other initiatives, to ensure globally competitive capital market professionals;
•	Spearhead the development and enhancement of certification examination modules for prospective capital market professionals;
•	Manage and ensure the efficient conduct of certification examinations for prospective capital market professionals and other persons required to secure a license from the Commission, and safeguard the integrity of the automated examination system;
•	Lead and facilitate the conduct of capacity-building programs for capital market professionals;
•	Manage the program on Equivalency to the SEC Certification Modules, and similar initiatives of the Commission;
•	Formulate policies and guidelines for the investor education program and ensure alignment with the strategic initiatives of the Commission;
•	Act as the lead coordinator in the development and systematic implementation of the Commission’s investor education program to promote financial literacy, efficient capital formation, broad investor participation and business innovation;
•	Oversee the annual celebration of Investor Protection Week, pursuant to Presidential Proclamation No. 846, Series of 2019, and the World Investor Week by the International Organizations of Securities Commissions (IOSCO); and
•	Forge and maintain a network with other government agencies and private sector organizations to help widen the reach of the Commission’s investor education program.
Economic Research and Analysis Division
The Economic Research and Analysis Division (ERAD) shall perform the following functions:
•	Lead and coordinate the formulation and implementation of the Commission’s annual research and analysis agenda;
•	Act as the Commission’s focal office for research concerns and represent the Commission in inter-agency research activities;
•	Compile, monitor, and analyze data on the developments in both global and domestic macro economy, and capital markets;
•	Conduct relevant, accurate, and in-depth studies related to the capital markets and corporate sector, and economic policies to promote evidence-based decision-making across the regulatory mandate;
•	Oversee proper dissemination of studies and research findings through regular and special briefing notes, information sheets, technical papers, and publications in both internal and external capacities;
•	Apply conceptual economic frameworks and econometric methods in assisting the Commission respond to pressing issues, risks, and trends on the macro economy and economic policies in relation to the corporate sector and capital markets;
•	Provide technical support and economic insights to the Commission’s development, implementation, and evaluation of regulatory strategies and policy recommendations by conducting economic analyses, surveys, focus groups, and other methods to gain industry and market insights, and impact assessments of key initiatives;
•	Provide technical support to inter-agency activities and coordination on matters relating to economic research and analysis, knowledge exchange, study collaboration, and prepare the related agency inputs;
•	Collaborate and maintain linkages with economic and research experts from academia and industry for the Commission’s foundation of economic and market knowledge, and organization of knowledge exchange programs; and
•	Participate in the in-house training of Commission staff on matters relating to economics and research.

Information and Communications Technology Department

DEPARTMENT’ FUNCTIONS
The Information and Communications Technology Department (ICTD) develops, implements and maintains comprehensive information systems and operational applications that allow for efficient and effective public service delivery. Specifically, the ICTD shall, among others:
•	Formulate the SEC Information Systems Strategic Plan (ISSP) and coordinate activities relative to the implementation thereof;
•	Undertake procurement planning, acquisition, and deployment of the Commission’s Information and Communications Technology (ICT) Resources in accordance with the SECISSP;
•	Lead and facilitate application systems development activities, including the administration, maintenance, and promotions of the systems developed and deployed application systems;
•	Perform capacity planning activities and administer the network and communications infrastructure of the Commission, including establishment of linkages between the SEC head office and extension offices;
•	Ensure the proper maintenance of the computer and network facilities of the Commission;
•	Preserve the integrity and security of the SEC electronic data, as well as conduct the enterprise cybersecurity monitoring and compliance activities;
•	Receive reports and other written communications and release SEC documents, except applications processed and approved by CRMD, and update the database entries relative to amendments of SEC registered companies;
•	Maintain archives and manages electronic copies of documents submitted by registered ompanies, and coordinate with the SEC Records Management Improvement Committee for the disposal of electronic records in accordance with applicable laws and policies of the Commission;
•	Provide information of registered companies to internal and external users, and authenticate corporate and partnership documents based on electronic records maintained by the Department; and
•	Participate in inter-agency electronic linkages and data-sharing arrangements;
•	Coordinate with other Departments/ Offices in the disposal of records in accordance with Philippine Law and SEC policy.
•	Provide information of registered companies to SEC internal and external users;
•	Authenticate corporate/partnership documents based on electronic records.
Information Systems Development and Management Division
The Information Systems Development and Management Division (ISDMD) shall perform the following functions:
•	Assist in the formulation of the SEC Information Systems Strategic Plan (ISSP) and coordinate activities relative to the implementation thereof;
•	Assist in the conduct of procurement planning, acquisition, and deployment of the Commission’s Information and Communications Technology (ICT) resources in accordance with the SEC-ISSP;
•	Lead and facilitate application systems development activities, including the administration, maintenance, enhancements and promotions of the systems developed and deployed applications systems in all aspects of the application lifecycle;
•	Administer and maintain of in-house and outsourced developed information systems;
•	Perform capacity planning activities and administers the network and communications infrastructure of the Commission including establishment of linkages between the SEC Head office and extension offices;
•	Provide higher level application support (L2 or L3) to helpdesk operations for all SEC systems applications;
•	Manage all Quality Assurance and Testing activities for acceptance and Maintenance for all SEC Systems Applications; and
•	Maintain and drive all Application Development and Management best practices and policies.
Systems Operations Division
The Systems Operations Division (SysOps) shall perform the following functions:
•	Manage system software and version updates including administration of network infrastructure and connectivity platform, co-location and cloud-based hosting facility, disaster recovery site, and other information technology (IT) facilities;
•	Handle both database and system administration of implemented, outsourced “big ticket” application systems, and provide hardware and software technical support, including tracking and monitoring of incoming request from other departments and offices;
•	Formulate and implement approved policies pertaining to the operational aspect of the IT systems that are under administration and control;
•	Perform auxiliary functions in coordination with the other offices, departments and divisions in applying system release management, risk management and other strategies applicable in enhancing the information and communications technology initiatives and innovations of the Commission; and
•	Perform capacity planning activities and administers the network and communications infrastructure of the Commission including establishment of linkages between the SEC head office and extension offices.
Electronic Records Management Division
The Electronic Records Management Division (ERMD) shall perform the following functions:
•	Perform capacity planning activities and administers the network and communications infrastructure of the Commission including establishment of linkages between the SEC head office and extension offices.
•	Receive the reportorial requirements and other documents submitted by registered companies, and maintain archives and manage electronic copies of such documents;
•	Manage document sharing and synchronization, distribution, indexing and querying in the online management system;
•	Manage data mining and progression of data; convert and transform structured and unstructured data; and manage the ingestion and export, batch processing, and sharing of data in near-real time or real time;
•	Process and release data and copies of documents to internal and external stakeholders, as well as authenticate documents based on electronic records maintained by the Division; and
•	Maintain expertise on data governance, data science, data management and data warehousing.
Cybersecurity and Shared Services Division
The Cyber Security and Shared Division (CSSD) shall perform the following functions:
•	Function as cybersecurity knowledge domain expert, and coordinate with the relevant departments in the monitoring of registered entities with regard to their cybersecurity requirements and compliance;
•	Maintain, drive, develop, manage, and disseminate cybersecurity policies and requirements for compliance;
•	Ensure the department has updated, current, and cutting-edge cybersecurity domain knowledge and expertise for regulatory purposes;
•	Serve as the clearing house and escalation entity of any security incident or breach that occurs in any SEC-regulated entity for the purpose of activating and managing coordination, timeliness, and synchronization of the SEC regulating departments in partnership with other government agencies to record and monitor, react to, limit or impede, and prevent progress of said incidents or breaches;
•	Provide the following services:
	•	Project Management and Systems Analysis – perform commission-wide portfolio and project management as well as conduct business and systems analysis and design;
	•	Service Architecture and Design – assists in the architectural design and development of systems, applications, services and networks;
	•	Planning, Compliance and I.T. Governance – perform department-wide planning coordination and consolidation as well as develop, coordinate and aggregate commission level compliance requirements pertaining to information technology and data policy
	•	Commission-wide Cybersecurity and Risk Mitigation – serve as the Commission’s cybersecurity and information security (InfoSec) group by managing and maintaining cybersecurity for the entire Commission;
•	Serve as the service desk managing the allocation and availability of shared services personnel.

Human Resources and Administrative Department

DEPARTMENT’ FUNCTIONS
The Human Resources and Administrative Department (HRAD) leads in creating and maintaining a positive and safe work environment that attracts and nurtures the best talents, and promotes a culture of excellence across the Commission by implementing efficient and transparent recruitment, selection and placement systems; effective learning and development interventions; strategic performance management mechanisms; and merit-based rewards and recognition programs. Specifically, the HRAD shall, among others:
•	Implement civil service laws, rules and regulations, in matters of recruitment and selection, training and staff development, scholarship grants, performance management, merit promotion, employee welfare, and administrative disciplinary actions;
•	Maintain personnel records, including the Statements of Assets, Liabilities and Net Worth of officials and employees which must be submitted to other appropriate agencies;
•	Conduct human resource policy research, and recommend reforms and programs for implementation;
•	Design and implement learning and development interventions such as trainings, seminars, and other capacity-building activities, based on the needs of employees, and of the Commission;
•	Maintain a knowledge management system, which shall include the operation of the SEC Library, and management of the Commission’s subscriptions to research databases;
•	Provide basic health care to employees through the operation of a medical and dental unit, and the implementation of other wellness programs;
•	Plan and manage the procurement activities, and manage the execution of contracts as results of procurement, of the Commission, in accordance with Republic Act No. 8194, otherwise known as the Government Procurement Reform Act, its implementing rules and regulations, and other applicable laws and rules;
•	Provide timely and effective administrative and general services support to the other departments and offices of the Commission;
•	Manage and maintain the Commission’s office buildings, warehouses, facilities, equipment and fixtures, and security;
•	Facilitate the internal and external communication of vacant positions, new rules and regulations, and other publications;
•	Ensure that the SEC Citizens Charter is accurate, updated and accessible to the transacting public, and monitor the Commission’s compliance with Republic Act No. 8794, otherwise known as the Anti-Red Tape Act of 2001;
•	Plan and implement gender and development programs;
•	Plan and implement senior citizen-related programs; and
•	Administer the Commission’s internship program.
Human Resources Management Division
The Human Resources Management Division (HRMD) shall perform the following functions:
•	Provide overall direction and guidance to the HRAD Director, the Supervising Commissioner of the HRAD and the Chairperson relative to the implementation and application of the civil service laws, rules and regulations in matters of recruitment, selection, appointment and other human resources actions, strategic performance management system, merit promotion, leave and attendance, employees welfare and benefits, rewards and recognition, and discipline;
•	Provide guidance and advice to the departments/offices in initiating innovations and enhancements of the systems, procedures, practices and competencies to be at the leading edge for the SEC to obtain the highest maturity level under the Program to Institutionalize Meritocracy and Excellence in Human Resource Management (PRIME-HRM);
•	Monitor, review, and request the publication of vacancies to the Civil Service Commission (CSC) and post the same vacancies on the SEC website and other applicable platforms;
•	Screen and recruit prospective applicants using the competency-based recruitment process of selection such as the use of competency-based behavioral interview guide, essay test, and other instruments or tools in collaboration with the department or office heads taking into consideration the Best and Brightest program of the Commission;
•	Conduct in-depth background check and investigation for shortlisted applicants prior to the deliberation and screening by the Human Resource Merit Promotion and Selection Board and issuance of appointment by the appointing authority;
•	Develop and update all procedures related to human resources management and maintain effective liaison with the CSC, Career Executive Service Board (CESB), Commission on Audit (COA), Office of the President (OP), Department of Budget and Management (DBM), Department of Finance (DOF), and other government agencies;
•	Provide all the assistance on matters of the implementation, interpretation, and application of the SEC Merit Selection Plan, Omnibus Rules on Appointments and Other Human Resource Actions, and other related civil service laws and rules;
•	Maintain an updated plantilla of personnel, organizational and functional charts and submit them to various agencies for compliance;
•	Assist the departments and offices in the preparation and submission of job descriptions (JDs) for the HRAD to have a JD manual;
•	Maintain and safekeep the 201 files of all officials and employees, including the approved qualification standards, and other records and files of the HRMD;
•	Review and submit to appropriate agencies the Statements of Assets, Liabilities and Net Worth (SALN) of officials and employees in compliance with Republic Act No. 6713 and its implementing rules and regulations;
•	Review, the Individual Performance Commitment Review (IPCR) and the Division Performance Commitment Review (DPCR) forms of all employees to ensure that they are compliant with the prescribed rules and guidelines;
•	Monitor and act on, if applicable, the attendance, leave applications, and other attendance and leave management concerns of officials and employees;
•	Facilitate the enrolment and updating of employees’ welfare-related records with the Government Service Insurance System, Philippine Health Insurance Corporation, and Pag-IBIG Fund;
•	Implement the compensation plan, including Notice of Salary Adjustment (NOSA) and Notice of Salary Increase (NOSI) in coordination with the Financial Management Department and the rewards and recognition program of the Commission, in accordance with the guidelines stipulated in the appropriate SEC Salary Schedule and the Enhanced Program on Awards and Incentives for Service Excellence (EPRAISE);
•	Monitor, facilitate, and handle all contracts and activities related to the engagement of personnel under the contracts of service;
•	Conduct human resources management policy research necessary for the crafting of guidelines to address workplace gaps, issues and problems; and
•	Initiate and provide support to the Investigation Committee, the HRAD Supervising Commissioner and the Chairperson in all administrative cases filed by the HRAD against erring employees in order to instill discipline in the workplace.
Learning Resource and Information Division
The Learning Resource and Information Division (LRID) shall perform the following functions:
Learning and Development
•	Responsible for the workforce’s professional growth by providing employees with learning opportunities consistent with the agency’s strategic goals and Vision through alignment with the agency’s goals and strategies to maximize the organizational resources and offer timely, economical, and effective learning interventions;
•	Support the agency’s present and future workforce through the development and acquisition of future-fit and future-ready competency-based learning interventions required for effective job performance and better decision-making and action-taking that will result in:
	•	Reduce employee turnover and increase retention by providing employees with opportunities for growth and development to acquire additional competencies relevant to their current job, prepare them for future roles within the organization, and train employees to be adept at new technologies or changes in the agency; and
	•	High employee morale by demonstrating that the organization values their learning and development and is invested in their success through various training and nontraining interventions.
•	Design, facilitate, and coordinate training and non-training (e.g., coaching, job rotation, benchmarking, etc.) interventions intended to improve the performance of the employees by learning new competencies or enhancing existing ones;
•	Design, implement, and monitor long-term (over three years) and medium-term (2 to 3 years) competency-based Learning and Development Plan that is linked to other core HRM areas (Recruitment, Selection and Plan, Rewards and Recognition, and Performance Management);
•	Develop customized job aids (e.g., checklists, templates, etc.), learning tools (e.g., journals), and learning application plans to support learning in the workplace;
•	Formulate, execute, and review learning and development policies and policy guidelines that define the link with other core HRM areas (Recruitment, Selection and Plan, Rewards and Recognition, and Performance Management);
•	Accredit, manage and evaluate learning service providers (LSPs) to ensure efficient and effective learning and development services;
•	Promote research-based competencies supporting strategies, policy formulation, and program implementation; and
•	Manage the SEC Learning Institute that provides continuous and holistic learning and growth for the SEC.
Resource and Knowledge Management
•	Manage the SEC Library to support the vision and mission of the agency by providing information to its stakeholders – through the development of resource access and sharing strategies from print to electronic and digital resources – in pursuit of the strategic goals and Vision of the agency;
•	Provide unique collection or specialized services on capital markets, securities, financial market, and company registration, among many other agency mandates;
•	Disseminate information and provide reader’s and reference services to the workforce through its printed and online resources as it acts as the information resource center of the agency;
•	Respond to the reference queries and make a retrospective search of literature as per users’ demand;
•	Lead knowledge innovation activities by linking information, communication with activities, and information with the workforce to encourage knowledge-sharing through its Knowledge Management programs; and
•	Expand workforce knowledge access through the acquisition and development of Knowledge Management tools (e.g., intranet, data analysis, document management system, etc.) to effectively manage knowledge.
SEC Internship Program
•	Provide opportunities, engage, and offer students an ‘in-the-trenches’ work immersion. This no-nonsense experiential learning would give them a foretaste of public service at its finest, turning them into attractive assets and decent professionals;
•	Provide a framework by which students from diverse academic backgrounds may be assigned to SEC offices, where their educational experience can be enhanced and enriched through exposure to actual and practical work;
•	Immerse the students in the natural working environment in the government, specifically of a national government agency;
•	Deepen their knowledge and understanding of the mandates of the SEC and the work that it does; and
•	Provide SEC offices with the assistance of qualified and competent students specializing in various fields.
Internal Communications
•	Promote cross-functional engagement and cross-departmental dissemination of information to develop employees’ pride and sense of belonging to the agency;
•	Develop and deliver consistent, clear messages about the future direction of the top management and the agency;
•	Deliver internal strategies, plans, and campaigns;
•	Assist with the delivery and reporting of staff surveys and apply the relevant information from the same to improve internal communications;
•	Produce internal communications materials across a range of channels, digital, face-to-face, and written – both written and visual materials;
•	Develop engaging content for the intranet, newsletter, and corporate emails;
•	Work with other units in HRAD to plan and deliver specific internal communications campaigns around employees’ wellness and welfare, learning and development, staff rewards, and performance management cycles, among others;
•	Plan, implement, and oversee the upholding of the institutional branding through internal or external communications and program executions, among others; and
•	Coordinate with the Office of the Commission Secretary and other offices to prepare and publish the internal newsletter and information dissemination as may be assigned to it occasionally.
Procurement Division
The Procurement Division (PD) shall be responsible for procurement planning and management of the procurement activities, and shall lead the contract management related to procurement activities of the Commission. The Procurement Division shall perform the following functions:
Procurement Planning
•	Manage and provide policy directions during planning activities pertaining to procurement and in coordination with end-users and the Financial Management Department (FMD);
•	Guide the end-users in the preparation of their procurement-related documents, and screen documentary outputs to ensure accuracy and completeness of details for purposes of procurement;
•	Take the role of BAC Secretariat during the planning stage as provided under Republic Act No. 9184 and its implementing rules and regulations;
Procurement Activities
•	Manage all administrative activities during the conduct of procurement as support unit to the Bids and Awards Committee (BAC), and discharge the functions of the BAC Secretariat as required under the Republic Act No. 9184 and its implementing rules and regulations;
•	Serve as the central channel of communication for BAC and the Commission for all procurement related matters;
•	Take the lead in crafting or the preparation of all BAC related documents like bid documents, notice of awards, notice to proceed, contracts, resolutions, memoranda, bid bulletins, clarifications, minutes of meetings, letters or communications, and other procurement documents and reports;
•	Act as the central depository of all procurement- related information as well as procurement documents, and coordinate with Information and Communications Technology Department any strategy or plan to convert manual processes or transactions into digital or electronic ones, subject to approval process;
•	Monitor/Oversee procurement milestones and provide advisory services to the Commission on procurement matters for proper reporting to relevant government offices and/or agencies;
•	Render reports/ documents for posting or submission to relevant offices and agencies, providers of goods, consulting services and infrastructure projects, and interpret reports for the Commission’s reference or information;
•	Keep abreast with the latest laws and rules on government procurement planning and procurement activities;
Contract Management
•	Manage, oversee, and lead the contract implementation, and provide policy guidelines during post-award activities for awarded contracts;
•	Lead and provide advisory services to the Commission and its units in monitoring and implementing contracts that are a product of procurement activities under Republic Act No. 9184 and its implementing rules and regulations;
•	Act as compliance office for all Commission on Audit’s requirements on procurement activities;
•	Act as customer service representative of the Commission and provide assistance to external stakeholders on contract payments and billing related concerns; and
•	Ensure compliance with the procurement related provisions under the Guidelines on the Grant of Performance-Based Bonus (PBB) and other existing rules.
General Services Division
The General Services Division (GSD) shall perform the following functions:
•	Administer, repair, safekeep, secure and maintain the facilities, equipment, fixture, leased spaces and office buildings of the Commission;
•	Handle, manage and conduct annual inventory of all property, plant, equipment, and assets of the Commission;
•	Review and monitor the disposal of unserviceable property, plant, and equipment;
•	Determine and manage the Commission’s requirements for common supplies sourced either through or outside of the Procurement Service;
•	Manage daily requests, repair, maintain, schedule, and ensure maximum utilization for the delivery of various documents, and other messengerial works of the official motor vehicles of the Commission;
•	Assist and process payment for the outsourced service providers, suppliers of goods and services, and other payables of the Department;
•	Facilitate the publication in newspapers of general circulation all SEC Memorandum Circulars, invitation to bid, cease and desist orders, summons, and other issuances of the Commission;
•	Monitor and ensure timely management of contracts for utilities, security manpower services, pest control services, rental of photocopier machines, janitorial and maintenance services, and other required services of the Commission;
•	Study, formulate, and assist the other Department/Offices in drafting the technical specifications, terms of reference, and scope of work of different projects of the Department/Commission;
•	Render assistance to the Bids and Awards Committee on the technical evaluation of bidders’ proposals;
•	Provide efficient and timely assistance to SEC Extension Offices on building administration concerns;
•	Coordinate and communicate with various local government units on the related laws, and policies; and
•	Assist in Commission-wide budget preparation and QMS Compliance concerning building/property administration, project implementation, and purchases of property, plant, equipment, office supplies.

Financial Management Department

DEPARTMENT’ FUNCTIONS
The Financial Management Department (FMD) ensures the prudent and sustainable allocation and disbursement of the Commission’s financial resources, and the complete and transparent accounting and reporting of such transactions. Specifically, the FMD shall, among others:
•	Prepare the Commission’s budget by determining the financial needs of the Commission and allocating the available financial resources accordingly;
•	Develop financial policies, guidelines and standards, device income generation programs, and implement prudent spending measures to ensure the effective, efficient, economical, and sustainable operation of the Commission;
•	Diligently collect transaction payments and penalties, and promptly deposit them to the Commissions retained accounts or to the National Treasury, as the case may be;
•	Process and release funds for the implementation of the different programs, projects and activities of the Commission;
•	Process claims of and payments to employees and creditors, as well as requests for refund of filing fees, and application/utilization and transfer of payments of corporations upon recommendation by the concerned operating departments;
•	Pre-audit all disbursements as to their accuracy and compliance with rules and regulations on disbursement, and reconcile subsidiary ledgers against the general ledger;
•	Review the financial aspects of agreements entered into by the Commission;
•	Prepare the Commission’s budget documents and financial reports, ensuring that they are free from material misstatements, and submit them to oversight agencies;
•	Serve as custodian of promissory notes of registered commercial paper issuers, and deposit substitutes of multinationals and other foreign corporations doing business in the Philippines; and
•	Serve as custodian of promissory notes of registered commercial paper issuers, and deposit substitutes of multinationals and other foreign corporations doing business in the Philippines; and
•	Manage and operate the Provident Fund of SEC Employees.
Budget and Fiscal Division
The Budget and Fiscal Division of the Financial Management Department is responsible for the preparation and execution of the annually Approved Operating Budget through the efficient and effective utilization of the Commission’s funds. The Budget and Fiscal Division (BFD) shall perform the following functions:
•	Developing standards and internal guidelines to implement prudent spending measures and ensure that fiscal discipline is observed in the utilization of the Commission’s funds;
•	Annually prepare the Commission’s budget consistent with the latest Budget Call and its corresponding guidelines in coordination with the different Departments and Offices;
•	Manage and utilize the Commission’s budget by promoting the suitable and responsive allocation, release, and transfer of funds; and
•	Promote accountability and transparency by preparing the Commission’s budget documents and financial reports and submitting them to oversight agencies in an accurate and timely manner.
Accounting Division
The Accounting Division (AD-FMD) shall perform the following functions:
•	Provide accounting services by ensuring the accuracy and completeness of submitted financial transaction and comply with COA rules and regulation/ standards.
•	Pre-audit all disbursements and reimbursements;
•	Process all payroll transactions;
•	Confirm loan applications (e.g. GSIS, Land Bank, Provident Fund and PAG-IBIG);
•	Reconcile subsidiary ledgers with the general ledger; and
•	Manage and operate the Provident Fund of SEC Employees.
Treasury Division
The Treasury Division (TD) shall perform the following:
•	Monitor and manage cash inflows and outflows from all SEC retained accounts;
•	Serve as a custodian of securities deposits and deposit substitutes of multinationals and other foreign corporations doing business in the Philippines;
•	Monitor all SEC income from its clientele and generation of reports related to collection;
•	Process, issue, and release payments and other claims to all SEC employees and creditors;
•	Process requests for refunds of filing fees, application /utilization and transfer of payments of corporations upon the recommendation of the operating department;
•	Post bond for all SEC accountable officers and employees in such amount as may be fixed by the Bureau of Treasury;
•	Coordinate with ICTD in relation to Payment Assessment Form (PAF) revisions and updates needed for the SEC Cashiering System; and
•	Process requests for authentication of official receipts, among others.

SPECIAL OFFICES

Office of the Commission Secretary

DEPARTMENT FUNCTIONS The Office of the Commission Secretary (OCS) shall provide secretariat services to the Commission En Banc, and develop and implement the communication strategies of the Commission. Specifically, the OCS shall, among others, perform the following functions:
•	Prepare the agenda and notices for the En Banc meetings;
•	Host Commission En Banc meetings onsite and/or through teleconferencing, web conferencing, videoconferencing and other remote or electronic means;
•	Provide necessary technical, administrative and logistical support in Commission meetings and events;
•	Draft the minutes of Commission Meetings and Executive Sessions, Decisions, Resolutions for the approval of the Commission En Banc;
•	Formulate rules of practice and procedures to guide the Commission, Departments, Offices, staff and the public of the Commission’s processes and procedures;
•	Manage the paper and electronic records of the Commission En Banc to ensure the efficient creation, utilization, retrieval, maintenance, retention, storage, preservation, conservation and disposal of paper and electronic records, including the adoption of adequate security measures, as well as records and data protection program, for Commission En Banc records;
•	Provide legal studies and technical research services for the Commission’s policy development;
•	Lead the development and implementation of the Commission’s communication strategies;
•	Lead the development and implementation of the Freedom of Information (FOI) program of the Commission;
•	Coordinate the compliance program of the Commission with the Data Privacy Act (DPA);
•	Support other Offices and Departments in the implementation of the investor education programs and other advocacies of the Commission;
•	Handle the media relations of the Commission;
•	Guide, coordinate and supervise the IEC campaigns implemented by the SEC Extension Offices;
•	Provide support for the investor education and advocacy programs of the Commission by providing and implementing the corresponding communication strategies; and
•	Provide support for the networking and stakeholder relations initiatives of the Commission toward the promotion of financial literacy and inclusion, and the protection of financial consumers, particularly investors in the capital market, and borrowers of financing and lending companies.

CORPORATE COMMUNICATION DIVISION The Corporate Communication Division (CCD) shall perform the following functions:
•	Lead the development and implementation of the Commission’s enterprise communication and crisis communication strategies;
•	Handle the Commission’s media relations;
•	Conceptualize and produce information, education and communication (IEC) materials such as press releases, infographics, and educational and advocacy videos in line with the Commission’s strategic communication plan;
•	Manage the Commission’s social media accounts and other communication platforms in accordance with the Commission’s overall stakeholder engagement strategy;
•	Guide, coordinate and supervise the IEC campaigns implemented by the SEC Extension Offices;
•	Coordinate interviews and speaking engagements, and prepare executive briefing materials to help the assigned resource persons prepare for such engagements;
•	Provide support for the investor education and advocacy programs of the Commission by providing and implementing the corresponding communication strategies
•	Provide support for the networking and stakeholder relations initiatives of the Commission toward the promotion of financial literacy and inclusion, and the protection of financial consumers, particularly investors in the capital market, and borrowers of financing and lending companies;
•	Provide support in the implementation of the Freedom of Information (FOI) program of the Commission, including in responding to public queries and requests for data; and
•	Provide support to other Offices or Departments in the implementation of other programs and advocacies of the Commission.

COMMISSION SECRETARIAT DIVISION The Commission Secretariat Division (CSD) shall perform the following functions:
•	Prepare the agenda and notices for the Commission En Banc meetings;
•	Facilitate the conduct of the Commission En Banc meetings, including:
	a.	the hosting of the meetings onsite and through teleconferencing, web conferencing, videoconferencing and other remote or electronic means; and
	b.	the provision of the necessary technical, administrative and logistical support in Commission meetings and events;
•	Draft the minutes of Commission Meetings and Executive Sessions, Decisions, and Resolutions for the approval of the Commission En Banc;
•	Formulate rules of practice to guide the Commission, Departments, Offices, staff and public of the Commission’s processes and procedures;
•	Manage the paper and electronic records of the Commission En Banc to ensure the efficient creation, utilization, retrieval, maintenance, retention, storage, preservation, conservation and disposal of paper and electronic records, including the adoption of adequate security measures, as well as records and data protection program, for Commission En Banc records.
•	Provide legal studies and technical research services for the Commission’s policy development;.
•	Conduct research on capital markets, investor rights, data privacy and protection, right to information and related issues;
•	Lead in the implementation of the Freedom of Information (FOI) program of the Commission;
•	Coordinate and monitor the Commission’s compliance with the Data Privacy Act (DPA);
•	Review Data Sharing Agreements, Contracts, and Memorandums of Agreement (MOA) on data protection matters;
•	Administer, through its legal officers, oaths, affirmations, acknowledgements, jurats, etc., on all documents which are required to be filed under oath before the Commission.

Office of the General Counsel

OGC FUNCTIONS
The Office of the General Counsel (OGC) serves as lead legal adviser to the Commission, and as legal liaison between the Commission and other government branches/agencies. Specifically, the OGC shall, among others:
•	Act on the following for the Commission En Banc:
	•	Appeals to the Commission En Banc involving decisions, orders, and resolutions promulgated by the operating departments and other offices, as well as those issued by self-regulatory organizations;
	•	Petitions for Voluntary Dissolution Where Creditors are Affected, under Section 135 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines;
	•	Petitions for the issuance of Cease and Desist Orders;
	•	Contracts involving the Commission, for review;
	•	Request for opinions and special studies from the chairperson, commissioners, operating departments, and other offices;
	•	Formal requests from the public for opinions involving the interpretation of laws implemented by the Commission;
•	Hear petitions for calling of meeting;
•	Assist in the preparation of the Commission’s legislative agenda, prepare comments and position papers on proposed legislation, and liaise with the House of Representatives, Senate of the Philippines, and Presidential Legislative Liaison Office;
•	Represent the Commission in legal proceedings before the Commission on Audit, Department of Budget and Management, and other administrative agencies;
•	Render legal assistance on matters involving self-regulatory organizations, international organizations and foreign government regulators and agencies; and
•	Oversee non-enforcement litigations, and appellate litigations, in cooperation with the Office of the Solicitor General.
Policy and Opinions Division
The Policy and Opinions Division (POD) shall perform the following functions:
•	Act on the following for the Commission En Banc:
	•	Contracts involving the Commission, for review;
	•	Requests for opinions and special studies from the chairperson, commissioners, operating departments, and other offices;
	•	Formal requests from the public for opinions involving the interpretation of laws implemented by the Commission;
•	Accomplish other Legal Works and Special Assignments as requested by the Operating Departments, the Chairperson, the Commissioners or the Commission En Banc;
•	Represent the Commission before Other Government Agencies and/or Quasi-Judicial Agencies (i.e. Department of Budget Management, Commission on Audit); and
•	Perform such other functions as may be directed by the Chairperson, Commissioners, and the General Counsel.
Adjudication Division
The Adjudication Division (AD-OGC) shall perform the following functions:
•	Act on the following for the Commission En Banc:
	•	Appeals to the Commission En Banc involving decisions, orders, and resolutions promulgated by the operating departments, extension offices, special offices, self-regulatory organizations (SRO) and other offices; and
	•	Petitions for the issuance of Cease and Desist Order and their Motions to Lift.
•	Act on the following petitions under the OGC’s original jurisdiction:
	•	Petitions for Voluntary Dissolution Where Creditors are Affected, under Section 135 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines;
	•	Petitions for Calling of Meeting under Sections 25 and 49 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines;
•	Conduct hearings, when necessary, for the Commission En Banc and the General Counsel;
•	Represent the Commission before the Commission on Audit, Department of Budget and Management, and other administrative agencies; and
•	Oversee/Monitor non-enforcement litigations, and appellate litigations, in cooperation with the Office of the Solicitor General.
Legislative Liaison Division
The Legislative Liaison Division (LLD) shall perform the following functions:
•	Liaise with the House of Representatives, Senate and Presidential Legislative Liaison Office on legislative measures and other matters pertinent thereto;
•	Assist in the preparation of the Commission’s priority legislative agenda;
•	Prepare comments and position papers on proposed legislations and implementing rules and regulations of enacted laws to make sure that these are aligned with the policies and functions of the Commission;
•	Assist in the preparation of implementing rules and regulations of enacted laws enforced and implemented by the Commission;
•	Assist in the preparation of implementing rules and regulations of enacted laws enforced and implemented by the Commission;
•	Represent the Commission in Congressional hearings, technical working group and interagency meetings, in relation to proposed bills or implementing rules and regulations, the subject matters of which do not involve the operational jurisdiction and technical expertise of other Operating Departments;
•	Assist the representative/s of Operating Departments in Congressional hearings, technical working group and inter-agency meetings, in relation to proposed bills or implementing rules and regulations, the subject matters of which involve the operational jurisdiction and technical expertise of Operating Departments; and
•	Assist the representative/s of Operating Departments in Technical Working Groups formed to draft proposed legislations or implementing rules and regulations which fall within the operational jurisdiction and technical expertise of the Operating Departments.

Office of the General Accountant

OGA FUNCTIONS
The Office of the General Accountant (OGA) ensures timely, accurate, transparent and high quality financial accounting and reporting in the capital market and the broader corporate sector by establishing financial reporting and auditing standards; overseeing auditing firms, external auditors and other related persons; and inspecting the financial statements of supervised entities. Specifically, the OGA shall, among others:
•	Lead the formulation, adoption, implementation of financial reporting and auditing standards and practices based on global frameworks;
•	Prepare opinions, clarifications and responses to queries involving financial reporting and audit issues;
•	Render advice on financial reporting and related matters, upon the request of the operating departments and other offices;
•	Accredit or implement voluntary listing/registration of external auditors and auditing firms for quality assurance review, asset valuers, credit rating agencies, and other independent professionals or experts engaged by corporations supervised by the Commission;
•	Monitor the compliance of external auditors and auditing firms, asset valuers, credit rating agencies, and other experts engaged by corporations supervised by the Commission with applicable laws, rules and regulations;
•	Evaluate financial statements of corporations referred to the Department by the operating departments and other offices or in furtherance of monitoring or exercise of visitorial power of the SEC;
•	Formulate rules and guidelines for the conduct of oversight review of the work of accredited external auditors, property valuers, and other professionals and experts to determine their compliance with applicable laws, rules, regulations and standards;
•	Conduct inspections and oversight reviews of the operation, quality controls, and documentation of accredited external auditors, property valuers, and other professionals or experts, with the goal of improving audit quality;
•	Issue show cause orders, impose sanctions and penalties, assess and collect fines for noncompliance with the laws, policies, rules and regulations being enforced and implemented by the Office;
•	Conducts fraud examination of concerned corporations;
•	Maintain custody over documents acted upon by or directly filed with the Department unless otherwise directed by the Commission En Banc;
•	Participate in the initiatives of local and international standard-setting bodies, financial regulators and multilateral agencies such as, but not limited to, Philippine Financial and Sustainability Reporting Standards Council, Philippine Interpretations Committees, Auditing and Assurance Standards Council, International Financial Reporting Standards, and Asian Development Bank; and
•	Participate in the annual plenary meetings and inspection workshops conducted by the International Forum of Independent Audit Regulators Group (IFIAR) and the ASEAN Audit Regulators Group (AARG) as part of our commitment as members of these organizations/associations.
SEC Oversight Assurance Review Division
The SEC Oversight Assurance Review (SOAR) Division shall perform the following functions:
•	Conduct on-site quality assurance review of the SEC-accredited auditing firms’ systems of quality management to determine compliance with relevant professional standards such as Philippine Standards on Quality Management 1 & 2 and Code of Ethics for Professional Accountants in the Philippines;
•	Conduct on-site review of external auditor’s working papers of audit engagements of Publicly-listed Companies (PLCs) to determine compliance with relevant professional standards such as Philippine Standards on Auditing; Philippine Financial Reporting Standards and Philippine Accounting Standards;
•	Review the auditing firms and external auditors compliance with the assurance standards, upon local adoption, in relation to the potential mandatory assurance requirements on Sustainability Reporting to be mandated by the Commission; and
•	Review the compliance of auditing firms and external auditors in relation to the requirements of the Anti-Money Laundering Act (AMLA) of 2001, as Amended.
Accounting and Audit Policy Division
The Accounting and Audit Policy Division (AAPD) shall perform the following functions:
•	Lead the formulation, adoption, implementation of financial reporting and auditing standards and practices based on global frameworks;
•	Prepare opinions, clarifications and responses to queries involving financial reporting and audit issues;
•	Render advice on financial reporting and related matters, upon the request of the operating departments and other offices;
•	Evaluate financial statements of corporations referred by the operating departments and other offices;
•	Process application for accreditation of credit rating agencies;
•	Monitor compliance of credit rating agencies accredited by the Commission with applicable laws, rules and regulations;
•	Formulate rules and guidelines for the conduct of oversight review of the work of Credit Rating Agencies;
•	Forward-looking assessment of proposed laws, rules and regulations to determine potential impact on financial reporting and disclosure requirements;
•	Develop more inclusive rules and regulation relative to the accreditation and monitoring of credit rating agencies to promote competition; and
•	Assist in the conduct of fraud examination.
Accreditation Division
The Accreditation Division (AD-OGA) shall perform the following functions:
•	Accredit or implement voluntary listing/registration of external auditors and auditing firms for quality assurance review, asset valuers, and other independent professionals or experts engaged by corporations supervised by the Commission;
•	Monitor compliance of external auditors and auditing firms, asset valuers, and other experts engaged by corporations supervised by the Commission with applicable laws, rules and regulations;
•	Review of the financial statements of corporations supervised by the Commission relative to their compliance with applicable laws, rules and regulations and pursuant to the exercise of Commission’s monitoring or visitorial power; and
•	Assist in the conduct of fraud examination.

EXTENSION OFFICES

OFFICE’ FUNCTIONS
The SEC Extension Offices (EOs) provide effective access to the Commission’s services across the country, ensure consistent enforcement of corporate and securities regulations nationwide, and establish closer coordination and linkages with local government units and other organizations for the implementation of the Commission’s plans and programs at the local and regional levels. Specifically, the EOs shall, among others:
•	Register corporations; record contracts of partnerships; register/record amendments to articles of incorporations and partnerships; and issue certificates of authority to lending and financing companies for the establishment and operation of their branches;
•	Act upon petitions for correction of entries in the articles of incorporation and/or bylaws of corporations;
•	Receive the annual financial statements, general information sheets, and other reportorial requirements of companies, as provided under pertinent laws, rules and regulations;
•	Monitor companies’ compliance with their reportorial requirements under pertinent laws, rules and regulations;
•	Receive and maintain custody over documents acted upon by or directly filed with the concerned Extension Office;
•	Issue certifications, certified true copies, and photocopies of documents requested by the clients, with due regard to the people’s rights to information and to privacy;
•	Issue show cause orders, impose sanctions and penalties, assess and collect fines for noncompliance with the laws, policies, rules and regulations being enforced and implemented by the Department;
•	Perform enforcement actions and investigations motu proprio and/or in coordination with the Enforcement and Investor Protection Department (EIPD) and/or Corporate Governance and Finance Department (CGFD), as the case may be;
•	Perform onsite/ocular inspection motu proprio and/or in coordination with the EIPD and/or CGFD, as the case may be;
•	Act as observer in stockholders’ and members’ meetings upon the request of the concerned corporations, stockholders or members;
•	Serve notices, summons, show-cause orders, cease-and-desist orders, orders of revocation, decisions, resolutions and other issuances of the Commission En Banc, or of the operating departments, upon request by the Office of the General Counsel (OGC) and/or the concerned operating departments;
•	Execute orders, decisions, resolutions and other issuances of the Commission En Banc, or of the operating departments, upon request by the OGC and/or the concerned operating departments;
•	Prepare and submit data and reports to different SEC departments and offices, to help measure, assess, and evaluate the effectiveness of, or to guide the planning, design and operationalization of the Commission’s initiatives;
•	Provide advisories to the public regarding the operations of certain companies and/or individuals, and possible violations of the laws, rules and regulations implemented by the Commission; and
•	Support the development and implementation of the Commission’s communication strategies, investor education programs and other advocacies by, among others, disseminating information about regulatory developments concerning corporations, partnerships, capital market participants and professionals, and other entities registered with and supervised by the Commission through traditional and new media; ensuring good relations between the Commission and the local media; and forging and maintaining partnerships and linkages with government agencies, industry associations, educational institutions, and other organizations to further widen the reach of the Commission’s investor education programs and other advocacies.
The SEC Extension Offices shall exercise jurisdiction over the following cities and provinces: SEC BAGUIO
The Baguio Extension Office (BAGEO) shall have jurisdiction over the following provinces and cities:
Region 1
•	Ilocos Norte
•	Ilocos Sur
•	La Union
•	Pangasinan
•	Laoag City
•	Batac City
•	Vigan City
•	Candon City
•	San Fernando City
•	Alaminos City
•	Dagupan City
•	San Carlos City
•	Urdaneta City
CAR
•	Apayao
•	Kalinga
•	Abra
•	Mountain Province
•	Ifugao
•	Benguet
•	Baguio City
•	Tabuk City
SEC TARLAC
The Tarlac Extension Office (TAREO) shall have jurisdiction over the following provinces and cities:
Region 2
•	Batanes
•	Cagayan
•	Isabela
•	Nueva Vizcaya
•	Quirino
•	Tuguegarao City
•	Ilagan City
•	Cauayan City
•	Santiago City
Region 3
•	Aurora
•	Nueva Ecija
•	Tarlac
•	Zambales
•	Bataan
•	Pampanga
•	Bulacan
•	San Jose City
•	Science City of Munoz
•	Palayan City
•	Cabanatuan City
•	Gapan City
•	Tarlac City
•	Olongapo City
•	Balanga City
•	Mabalacat City
•	Angeles City
•	San Fernando City
•	Malolos City
•	Meycauayan City
•	City of San Jose Del Monte
SEC LEGAZPI
The Legazpi Extension Office (LEGEO) shall have jurisdiction over the following provinces and cities:
Region 5
•	Camarines Norte
•	Camarines Sur
•	Albay
•	Sorsogon
•	Masbate
•	Catanduanes
•	Naga City
•	Iriga City
•	Legazpi City
•	Ligao City
•	Tabaco City
•	Sorsogon City
•	Masbate City
SEC ILOILO
The Iloilo Extension Office (ILOEO) shall have jurisdiction over the following provinces and cities:
Region 6
•	Aklan
•	Antique
•	Capiz
•	Iloilo
•	Guimaras
•	Roxas City
•	Iloilo City
•	Passi City
SEC BACOLOD
The Bacolod Extension Office (BCDEO) shall have jurisdiction over the following provinces and cities:
Region 6 (part)
•	Negros Occidental
•	Victorias City
•	Sagay City
•	Escalante City
•	Cadiz City
•	Silay City
•	Talisay City
•	Bacolod City
•	Bago City
•	San Carlos City
•	La Carlota City
•	Himamaylan City
•	Kabankalan City
•	Sipalay City
Region 7 (part)
•	Negros Oriental
•	Canlaon City
•	Guihulngan City
•	Bais City
•	Tanjay City
•	Bayawan City
•	Dumaguete City
SEC CEBU
The Cebu Extension Office (CEBEO) shall have jurisdiction over the following provinces and cities:
Region 7
•	Cebu
•	Bohol
•	Siquijor
•	Bogo City
•	Danao City
•	Toledo City
•	Cebu City
•	Mandaue City
•	Lapu-Lapu City
•	Talisay City
•	City of Naga
•	Carcar City
•	Tagbilaran City
SEC TACLOBAN
The Tacloban Extension Office (TACEO) shall have jurisdiction over the following provinces and cities:
Region 8
•	Northern Samar
•	Samar
•	Eastern Samar
•	Leyte
•	Southern Leyte
•	Biliran
•	Calbayog City
•	Catbalogan City
•	Borongan City
•	Tacloban City
•	Baybay City
•	Ormoc City
•	Maasin City
SEC ZAMBOANGA
The Zamboanga Extension Office (ZAMEO) shall have jurisdiction over the following provinces and cities:
Region 9
•	Zamboanga del Norte
•	Zamboanga del Sur
•	Zamboanga Sibugay
•	Dipolog City
•	Dapitan City
•	Zamboanga City
•	Pagadian City
•	Isabela City
BARMM
•	Lanao Del Sur
•	Maguindanao Del Norte
•	Maguindanao Del Sur
•	Basilan
•	Sulu
•	Tawi-Tawi
•	Cotabato City
•	Marawi City
•	Lamitan City
SEC CAGAYAN DE ORO
The Cagayan de Oro Extension Office (CDOEO) shall have jurisdiction over the following provinces and cities:
Region 10
•	Camiguin
•	Bukidnon
•	Misamis Oriental
•	Misamis Occidental
•	Lanao Del Norte
•	Cagayan De Oro City
•	El Salvador City
•	Gingoog City
•	Malaybalay City
•	Valencia City
•	Iligan City
•	Ozamiz City
•	Tangub City
Region 13
•	Agusan Del Norte
•	Agusan Del Sur
•	Surigao Del Norte
•	Surigao Del Sur
•	Dinagat Islands
•	Butuan City
•	Cabadbaran City
•	Bayugan City
•	Surigao City
•	Tandag City
•	Bislig City
SEC DAVAO
The Davao Extension Office (DAVEO) shall have jurisdiction over the following provinces and cities:
Region 11
•	Davao De Oro
•	Davao Del Norte
•	Davao Del Sur
•	Davao Oriental
•	Davao Occidental
•	Davao City
•	Tagum City
•	Island Garden City of Samal
•	Digos City
•	Mati City
•	Panabo City
Region 12
•	Cotabato
•	South Cotabato
•	Sultan Kudarat
•	Sarangani
•	Kidapawan City
•	Koronadal City
•	Tacurong City
•	General Santos City

FinLend

FINLEND FUNCTIONS
The Financing and Lending Companies Division (FinLend) shall perform the following functions:
•	Monitor and enforce compliance by financing companies (FCs) and lending companies (LCs) with the Financing Company Act, Lending Company Regulation Act, Revised Corporation Code of the Philippines, Securities Regulation Code, Financial Products and Services Consumer Protection Act and the rules and regulations implemented by the Commission, as may be applicable; It shall also include the following:
	•	Development, acquisition, and application of SupTech or cognate capabilities in aid of shaping the compliance behavior of supervised financing and lending companies positively;
	•	Intelligence gathering and knowledge management of insights into compliance behavior;
	•	Provision of technocratic guidance to preclude inadvertent or advertent infractions;
	•	Preemption, identification, mitigation, and communication of systemic risks;
	•	Authority to revoke Certificates of Registration and of Authority of erring financing and lending companies in accordance with existing rules and to act on cognate activities pursuant to its mandate;
	•	Authority to issue Orders, Cease and Desist Orders, Notices, Resolutions, Memoranda and such other documents and papers as may be necessary or related to the monitoring, supervision, and enforcement of the laws, rules and regulations pertaining to financing companies and lending companies;
•	Provide recommendations and draft policy measures for the effective supervision of FCs and LCs, as well as:
	•	Conduct policy research including ‘foresight-ing’, ’thinktank-ing’ and ‘insight-ing’ in aid of crafting and implementing a roadmap for the regulated money-lending industry;
	•	Craft the policies geared towards the ‘effective parenting’ of supervised financing and lending companies in pursuit of financial inclusion, customer protection, and industry development for the guidance of other units as well as of the Extension Offices;
	•	Conduct of regulatory impact assessments (RIAs), whenever practicable;
	•	Take corrective actions at the policy level;
•	Conduct workshops, seminars and roundtable discussions related to FCs and LCs, as well as:
	•	Participation in various fora to promote the SEC’s strategic narrative in its role as Overseer of the Regulated Money-lending Industry and to convey key messages with proof points;
	•	Responsible in leveraging of existing relationships with external organizations or interagency entities with a view to turning them into advocates or champions for the SEC;
	•	Promote the use of behavioral sciences and other fields of knowledge for developing enriched educational interventions designed to influence positively existing and prospective borrowers;
•	Conduct workshops, seminars and roundtable discussions related to FCs and LCs, as well as:
	•	Craft legislative agenda, lobbying, and liaising;
	•	Interface with, and align with, special interest groups to advance its legislative agenda and its underpinning policy preferences;
•	Participate in meetings or consultations with local and international agencies related to FCs and LCs, as well as:
	•	Participation in meetings to impact the warp and woof of the policy thinking and paradigmatic approaches of such agencies to the regulation of financing and lending companies;
	•	Solicit bilateral or multilateral technical assistance, as necessary, in support of the SEC’s policies, programs, and projects;
	•	Include the provision of policy guidance or technical assistance, upon request, to local and international stakeholders;
•	Process requests for reconsideration of penalties imposed on FCs and LCs, which shall include:
	•	Solicitation of inputs, as necessary, from other units in the disposition of unusual or precedent-setting cases to establish policy consensus within the agency;
	•	Aim for the prospective application of newly-minted policies and processes in the interest of cost-effective deterrence;
	•	Issuance of administrative fiats (i.e., SCLs and CDOs);
	•	Initiation of administrative proceedings against erring financing and lending companies.

PhiliFINNO

PHILIFINNO FUNCTIONS
The PhiliFintech Innovation Office (PhiliFINNO) fosters innovation, particularly the development and adoption of financial technology, to promote financial inclusion while ensuring the protection of financial consumers in the Philippines. Specifically, the PhiliFINNO shall, among others:
•	Serve as the first point of contact for financial technology (fintech) companies applying for registration, as well as for existing fintech companies, which have either been operating without authority from the Commission, or which will introduce new fintech products, in navigating the regulatory landscape;
•	Document, analyze, and understand fintech companies’ business models and their possible impacts on the market and its participants; and
•	Formulate and execute regulatory responses that support the development of fintech toward promoting financial inclusion, and at the same time, ensure the protection of investors and market participants, through the policy development functions of the Commission.

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