THE Securities and Exchange Commission (SEC) is launching an integrated platform to further ensure the security of its digital services through the Electronic SEC Universal Registration Environment or eSECURE.
The eSECURE system will serve as the digital passport for users to different online services provided by the SEC and will allow users to manage their SEC accounts and online transactions in one platform.
The regulator last week issued the guidelines for eSECURE through Memorandum Circular 10 Series of 2024.
The platform will use a risk-based credentialing procedure via an electronic Know Your Customer (eKYC) process and credentialing system to strengthen the identification, trustworthiness, reachability and veracity of individuals representing corporations and people using the regulator's online services.
The regulator stressed that eKYC would be an important tool to curb money laundering and/or terrorist financing committed through the use of corporate vehicles.
"Credentialing through eSECURE is required for sensitive and critical online services, where verification and establishment of identity is necessary," it said.
These include the commission's systems for company registration, namely the SEC Electronic Simplified Processing of Application for Registration of Company (eSPARC) and One-day Submission and E-registration of Companies (OneSEC), and its service for research and data retrieval, the SEC Application Program Interface (API) Marketplace.
The Automated Certification Examination System (ACES) and SEC Electronic Registry Application for Market Participants (eRAMP), which are used for licensing of capital market participants, along with iMessage Mo and other SEC complaints systems, will be integrated into the platform.
"Users of those not falling under sensitive and critical online services, such as the Electronic SEC Education, Analysis, and Research Computing Hub (eSEARCH), may opt not to register for an eSECURE account but will be required to establish their identity for each and every online SEC transaction," the regulator said.
Other services, such as the Electronic Filing and Submission Tool (eFAST), MC 28 Submission Portal, and Electronic System for Payment to SEC (eSPAYSEC), will also be integrated into eSECURE in the future.
The process is not mandatory but meant to ease the transition and adoption of the registration and authentication through eSECURE, it said.
The public can still avail of SEC online systems and submit scanned hard copies of documents that are manually signed and/or duly notarized.
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