Securities and Exchange Commission eyes opening Dumaguete satellite office

DUMAGUETE CITY – To better serve the public, the Securities and Exchange Commission (SEC) is testing the waters to determine the viability of establishing an extension office in Dumaguete.

SEC Director Jose Aquino of SEC Enforcement and Investor Protection Department disclosed the commission is in the process of trying to identify different provinces where to establish an extension office.  Possible cities include Dumaguete.

While in the city, Securities and Exchange Commission  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 enjoins local government units to be partners with them in cases of corporations wanting to acquire business permits in certain localities with requirements involving the SEC or the Department of Trade and Industry (DTI) especially for single proprietorship.

Director Aquino had sought the cooperation of the city to require corporations applying for before business permits to present first their Securities and Exchange Commission registration to make sure such corporations are of good standing and that they are not among those corporations being monitored for violations.

He also cautioned the public against investing in fly by night corporations.  He urged people to invest wisely and to be wary of schemes that promise quick and impossibly high returns.

Finally, the SEC said that anybody who wants to engage in business will have to register with them so that they can also protect those that are dealing with them.

Also present during the one-day SEC-GAD investor information seminar is Gerry del Rosario, SEC Director for Human Resoures and Administrative Department; Diana Cortes, SEC coordinator; Ronalyn Puatu, SEC Company Registration and Monitoring Department representative; Allysa Ayochok of SEC markets and SEC Regulation Department; and SEC Assistant Director of Corporate Governance and Finance Department Leonara Tandoc.

The conference was attended by department heads and local officials including members of the Negros Oriental Chamber of Commerce and Industry (NOCCI) headed by Ed Du.

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