Finance Secretary Benjamin Diokno asked the Securities and Exchange Commission to further expand the capital market through digitalization.
Diokno commended the SEC’s digital transformation initiatives, which the securities regulator accelerated at the height of the global health emergency. This allowed the market to continue functioning normally amid the difficulties posed by the pandemic. It said that from its launch on April 11, 2021 to June 19, 2022, the eSPARC processed 77,476 applications for company registration, 7,095 of which were processed in OneSEC.Linked to the eSPARC and OneSEC is the Electronic System for Payments to the SEC that enables online payments of registrations and other transaction fees. Tthe eSPAYSEC catered to 31,027 transactions since its launch on March 1, 2021 until June 19, 2022.
The said platforms are among a suite of online systems that make transaction with the SEC easier and faster.