‘FAST’ lanes

As the Securities and Exchange Commission shifts frommanual to automated registration system, the corporate watchdog has acknowledged that the online company registration system (CRS) it launched last year was still undergoing “teething problems.”

While CRS was intended to ensure faster registration processes with data-capturing features to expedite company certification services, the system is seen hampered by the deluge of corporate information, unstable internet connectivity alongside storage and other system readjustments.

There is thus a need to facilitate the transition from the manual registration system to an automated one, SEC’s new chief Emilio Aquino said.

To address such bottleneck concerns, the SEC rolled out this month several “FAST Lane" kiosks at its head office at the Philippine International Convention Center in Pasay City as well as its satellite offices in MetroManila and its extension offices in key cities.

FAST Lane is an acronym that stands for “Facilitating Automated System Transition" Lane. These lanes will be manned by Fast Action Service Teams (FAST), which will prioritize applications filed in June and earlier.

“The FAST Lane" online kiosks were put in place to assist newregistrants and to show them how easy it is to use the online registration system as they can replicate the process in the convenience of their own homes or offices. All they need is a stable internet service, and, of course, the information they will be inputting into the system,”

Aquino said.

Moving forward, the SEC expects the online registration system to make services more efficient and easily accessible to the public.

The SEC has satellite offices at SM North Edsa Annex, Ali Mall Cubao, Robinsons Galleria Ortigas Center, SM Manila, SM Mall of Asia, and Muntinlupa City Hall. It has extension offices in Baguio City, Tarlac City, Legazpi City, Cebu City, Iloilo City, Cagayan de Oro City, Zamboanga City and Davao City.