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MANILA, Philippines – The Securities and Exchange Commission (SEC) is moving applications for public offerings fully online as part of efforts to make it easier for companies to raise money via the Philippine capital market.
In a statement on Monday, the SEC said it had published a draft memorandum circular that would require the use of the Online Application for Registration Statements (Oars), a web-based platform designed to handle the electronic submission of registration statements and other required filings for public offerings.
READ: SEC eyes mandatory online filing for securities offerings
The regulator said the initiative would also shorten the processing period for applications to 40 days.
