SEC streamlines amendment process for registered firms

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January 20, 2026 | 12:00am

MANILA, Philippines — The Securities and Exchange Commission (SEC) is streamlining the amendment process for the articles of incorporation and by-laws of corporations to ensure faster transactions.

The corporate regulator issued Memorandum Circular 3, Series of 2026, expanding the number of transactions that may undergo simple processing under Electronic Application for Modification of Entity Data (eAMEND).

The guidelines also seek to further reduce processing times for amendments of the articles of incorporation and by-laws even shorter than the corresponding processing periods prescribed by the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 (EODB Act).

“The SEC is committed to making every transaction seamless and efficient to make it easier for the public to avail of our services, and to comply with the laws, rules and regulations we implement,” SEC chairperson Francis Lim said.

With the issuance, Lim said the SEC is providing clear and consistent guidance on amendments in the articles of incorporation and the by-laws of companies.

He said this will enable faster transactions “so companies can direct their efforts on growing their business, rather than spend time with regulatory roadblocks.”

Launched in 2024, eAMEND digitalizes the acceptance, processing and approval of payment for amendment applications of corporations.

Applications through the portal are currently classified into two options: simple processing and regular processing.

Amendment applications that undergo simple processing are eligible to receive the digital certificate of their amended articles of incorporation upon initial system approval, while those under regular processing will be issued only after review and approval by the SEC.

Under the guidelines, the SEC said that applications that would undergo simple processing through eAMEND are classified as complex transactions under the EODB Act, or those that require evaluation by the concerned government employee for the resolution of complicated issues and must be processed within seven working days.

Applications under regular processing, meanwhile, are classified as highly technical transactions, or those that involve technical knowledge, specialized skills or training in the processing and evaluation of such transactions.

The EODB Act sets the processing time of highly technical transactions to within 21 working days.

Regular processing transactions include applications for new by-laws, amendments to by-laws involving five or more provisions, and dissolution through shortening of corporate term, amendments of articles of partnership and dissolution of partnerships.

It also covers conversion of stock corporations to non-stock corporations, one-person corporations to ordinary stock corporations or vice versa and corporation soles to ordinary non-stock corporations.

The guidelines expanded the list of transactions under simple processing to 28 from only four amendment applications previously.

Simple processing will now accommodate change of corporate name, primary and secondary purposes, shortening of term of existences, audit of books and dividends, provision for the undertaking to change name and the term of office of all officers other than directors/trustees, among others.

Among the requirements for simple processing is the submission of amendment documents within 15 days from payment of the required filing fees.