Exposure Draft on the Proposed Fees and Charges for IT-Related Services

June 28, 2023 SEC NOTICE TO : All Concerned SUBJECT : Exposure Draft on the Proposed Fees and Charges for IT-Related Services The public is advised that the Commission in its meeting on 27 June 2023 resolved to expose the draft Memorandum Circular on the Schedule of Fees and Charges related to IT services such as SEC Application Program Interface (API), SEC Company Investments and Financial Statistical Systems eSEARCH services including the Request for Authenticated and Plain copy of SEC documents in hardcopy. HTcADC The Commission hereby requests for the comments, suggestions and/or inputs of our stakeholders on the proposed draft Memorandum Circular by accomplishing the attached template and submit it on or before 05 July 2023 through electronic mail to the Fees and Charges Secretariat ( [emailprotected] ) with the subject line Exposure Draft on the Proposed Fees and Charges for IT Related Services . Thank you. ATTACHMENT Comments on the Exposure Draft on the Proposed Fees and Charges for IT Related Services SEC MEMORANDUM CIRCULAR NO. ____ Series of 2023 TO : ALL CONCERNED SUBJECT : SEC FEES AND CHARGES FOR CERTAIN IT RELATED SERVICES WHEREAS , Section 179 (o) and (p) of Republic Act (RA) No. 11232, otherwise known as the "Revised Corporation Code of the Philippines" (RCC), grants the Commission the power and authority to (i) formulate and enforce standards, guidelines, policies, rules, and regulations to carry out the provisions of the RCC; and (ii) exercise such other powers provided by law or those which may be necessary or incidental to carry out the powers expressly granted to it; WHEREAS , Section 180 of the RCC shall provide for the development and maintenance of the electronic filing and monitoring system, in order to facilitate and expedite the registration, incorporation, and the submission of reports, notices, and other documents for the Commission; CAIHTE WHEREAS , Section 7 of Republic Act No. 11032, otherwise known as the EASE of Doing Business and Efficient Government Service Delivery Act of 2018, requires that government agencies, including LGUs adopt a zero-contact policy; WHEREAS , as part of the Commission's thrust to digital transformation, as well as in keeping with RA No. 11032 or the "Ease of Doing Business Act of 2018" the Commission continually adopts digital innovations to streamline its processes; WHEREAS , to improve the quality of services to the transacting public, the development of system application is necessary in order for the Commission to strengthen and deliver its mandate; WHEREAS , the implementation of the SEC Application Program Interface (SEC API) and the Company Investment and Financial Statistical Systems (CiFSS eSEARCH) are consistent with the sustainability efforts of the Commission; WHEREAS , the development of IT-related systems and the delivery of these services entail costs; and as a matter of policy, fees and charges must sufficiently cover these costs; NOW THEREFORE , the Commission hereby promulgates the implementation of the applicable fees for IT related services and increase in fees in securing official documents from the Commission: 1. SEC API Service. This is a software interface that enables the Commission to provide company profile information, financial information, and other data to our clients and stakeholders through application-to-application communication. APIs are based on a programming pattern or best practice that defines the rules by which application-to-application, and not application-to-user, communications may be conducted over remote network connections such as the Internet. Through this system, it allows direct transfer of data streams without the need for user intervention, allowing real time data transfer in a secure way. PARTICULARS FEES AND CHARGES SEC API SERVICE FEES Package A Php10,000.00 (100 API calls-Php100.00/call) Package B Php50,000.00 (1,000 API calls-Php50.00/call) 2. CIFSS e-SEARCH. The Electronic SEC Education, Analytics, and Research Computing Hub (eSEARCH) is the main eCommerce service channel of the Commission for the transacting public's purchase and download of submitted documents to the SEC. It is mainly a research tool and discovery as well as channel for authenticated documents so as to move away from issuing of paper-based documents. Through this system, SEC documents such General Information Sheet and Annual Financial Statement are accessible to the transacting public. aScITE CIFSS ESEARCH CHARGES (digital copy) GIS, AFS, and Company Snapshot Package Php1,000.00 Authenticated GIS, AFS, and Company Snapshot Package Php1,500.00 GIS, Authenticated AFS, and Company Snapshot Package Php1,500.00 Authenticated GIS, Authenticated AFS, and Company Snapshot Package Php2,000.00 GIS, AFS, and Company Snapshot Package (Discounted Price) Php900.00 Authenticated GIS, AFS, and Company Snapshot Package (Discounted Price) Php1,400.00 GIS, Authenticated AFS, and Company Snapshot Package (Discounted Price) Php1,400.00 Authenticated GIS, Authenticated AFS, and Company Snapshot Package (Discounted Price) Php1,900.00 GIS or AFS Document Php750.00 GIS or AFS Document (Discounted Price) Php500.00 Note : Additional P500.00 for authenticated copy for each type of document 3. Plain and Authenticated Copy of SEC Documents. As listed under SEC MC No. 3, s. 2017, the following are the new fees and charges in securing official documents from the Commission Plain Copy of SEC Documents (hardcopy) TYPE OF DOCUMENT ESTIMATED NO. OF PAGES FEES AND CHARGES Articles of Incorporation and By-Laws 16-27 Php1,500.00 Articles of Incorporation/Amended Articles of Incorporation 10-15 Php1,500.00 By-Laws/Amended By-Laws 10-15 Php1,500.00 General Information Sheet 6-10 Php1,500.00 Increase in Capital Stock 8-15 Php1,500.00 Resolution 2-4 Php1,500.00 Secretary's Certificate 2-4 Php1,500.00 Board Resolution 1-3 Php1,500.00 Registration Data Sheet 2-3 Php1,500.00 Deed of Assignment 1-3 Php1,500.00 Other Documents aside from the above Php50.00/page Authenticated Copy of SEC Documents (hardcopy) TYPE OF DOCUMENT ESTIMATED NO. OF PAGES FEES AND CHARGES Articles of Incorporation and By-Laws 16-27 Php2,000.00 Articles of Incorporation/Amended Articles of Incorporation 10-15 Php2,000.00 By-Laws/Amended By-Laws 10-15 Php2,000.00 General Information Sheet 6-10 Php2,000.00 Increase in Capital Stock 8-15 Php2,000.00 Resolution 2-4 Php2,000.00 Secretary's Certificate 2-4 Php2,000.00 Board Resolution 1-3 Php2,000.00 Registration Data Sheet 2-3 Php2,000.00 Deed of Assignment 1-3 Php2,000.00 Other Documents aside from the above Php100.00/page EFFECTIVITY. This Circular shall take effect immediately upon completion of its publication in a newspaper for general circulation. Makati City, Philippines. __ July 2023. For the Commission: EMILIO B. AQUINO Chairperson