SEC mulls extension office in Dumaguete

CEBU, Philippines — The Securities and Exchange Commission (SEC) is testing the waters whether to establish an extension office in Dumaguete City or not, for it to better serve the public.

Director Jose Aquino of the SEC Enforcement and Investor Protection Department disclosed Tuesday the commission is in the process of trying to identify different provinces where it can establish an extension office, and Dumaguete City is among those being considered.

While in the city, SEC officials conducted trainings and seminars on the role of gender and development in the capital market, company registration system, and how to deal and detect investment scams, including microfinance and lending.

SEC enjoined local government units to be partners with it, in cases of corporations wanting to acquire business permits in their areas.

Among the requirements would be a registration with the SEC or with the Department of Trade and Industry, especially for single proprietorship, it said.

Aquino had sought the cooperation of Dumaguete City to require corporations applying for business permits to present first their SEC registration to make these are of good standing and that they are not among those being monitored for violations.

He also cautioned the public against investing in fly-by-night corporations and not to be pressured into putting their money because of greed for quick higher returns.

Finally, the SEC said that all who want to engage in business would have to register with it so that it could also protect them. (FREEMAN)