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Thursday, March 28, 2024

SEC’s strategy lessens visitors

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Corporate regulator Securities and Exchange Commission is probably one of the government agencies most frequently visited by the public who file corporate reports, register corporate names and access company statements.

To lessen face-to-face transactions, the SEC has improved its information technology by institutionalizing measures on how investors can register company names online and view or secure corporate documents through the Internet.

It has also set up a satellite office in Cubao, Quezon City to make corporate transactions easier.

But one unintended strategy the corporate regulator has taken in discouraging people from going to the SEC main office at the corner of Edsa and Ortigas Avenue is to keep its parking lot inaccessible to visitors.

Many cars are being turned away from SEC, even during early morning because parking at the back of the office is already full. These cars are forced to look for alternative parking that could be a few hundred meters away from the government office.  Even SEC employees are having a hard time getting a parking slot.

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When the parking issue was raised to the higher ups, one top official made several insensitive comments such as: “It’s not our obligation to provide them [visitors] with parking” and “We want to encourage less face-to-face transaction”.

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