BACOLOD City – Corporations, foundations and associations in Negros Occidental applying for or renewing their registration with the Securities and Exchange Commission no longer need to go to Iloilo City.
The SEC launched its Bacolod Extension Office on Friday in Units 10 and 11 of Redkey Building on Hernaez corner Jocson streets in Barangay Taculing.
But the new extension office – the agency’s first in the province and this city, and ninth nationwide – will be in full operation in January 2019, said SEC chairman Emilio Aquino.
There were 10,200 SEC-registered corporations, foundations and associations in Negros Occidental, 7,000 of which were in this capital city, the agency said.
“Fake registration” is one of the main problems they are tackling, said Aquino, who graced the inauguration.
Unscrupulous people go around saying via word of mouth or on their website that they are SEC-registered when they are not, he said.
But “hindi lahat kaya i-monitor,” Aquino admitted. The SEC has 600 personnel all over country as against 900,000 corporations.
Vigilance and prevention are key in addressing this problem, he said.
“The best [thing to do] is to educate the people and prevent them from investing money in unscrupulous [organizations]. Doon tayo sa preventive side as much as possible,” said the SEC official.
SET UP BY LAW
According to the SEC, its Bacolod Extension Office is the only such office in the country created via legislation – Republic Act 10785, or the SEC Bacolod Office Law.
Mayor Evelio Leonardia authored the law when he was congressman.
Leonardia, who was also present at the launch, said the local SEC office “was conceptualized to serve the corporate and business sectors and create a climate conducive for business to grow.”
“We would like also to improve the ease of doing business in Bacolod and Negros Island so that eventually, it will provide inclusive growth,” he added.
The SEC Bacolod Office Law was passed during the 16th Congress.
“This means that no matter who runs the SEC, the Bacolod Office is here to stay,” said Leonardia. “It will not be subject to administrative policy changes.”
Vice Mayor El Cid Familiaran; Rep. Greg Gasataya; SEC commissioners Antonieta Ibe, Ephryo Luis Amatong and Javey Paul Francisco; Sangguniang Panlungsod members; and businessmen, among others, also attended the inauguration./PN
