The Securities and Exchange Commission (SEC) is preparing the platform that will allow companies to submit their regulatory filings — audited financial statements (AFS), general information and other annual reports — online through a newly developed online submission tool (OST).
The SEC said it will roll out its OST in time for this year’s filing season. Initially, corporations may use the OST to file their AFS, GIS, sworn statement for foundation (SSF), general form for financial statement (GFFS), and special form for financial statement (SFFS).
“The OST will likewise accept submissions of affidavit of non-operation (ANO), together their GIS or AFS, and affidavit of non-holding of annual meeting (ANHAM), together with the GIS, during the initial implementation,” the SEC said.
To use the OST, corporations, partnerships, and their authorized filers are required to enroll in the online submission facility by accomplishing the online application form and submitting the required documents, the SEC said.
The SEC will then require a corporation or partnership enrolling in the OST to submit a board resolution authorizing its representative to file reports on behalf of the corporation or partnership, and a special power of attorney (SPA) from the authorized filer/representative to file reports for and on behalf of the corporation or partnership.