TARLAKENYO (July 16, 2025) – The Securities and Exchange Commission (SEC) has rolled out new guidelines to expedite the processing of applications, aiming to enhance the ease of doing business in the Philippines.
The initiative, outlined in Memorandum Circular No. 7, Series of 2025, issued on July 10, establishes strict timelines for handling permits, licenses, registrations, certificates, clearances, and other authorizations, with a “deemed approved” policy for applications not addressed within the specified periods.
SEC Chairman Francis Lim emphasized the agency’s dual role as both a regulator and a facilitator of business.
“I said on Day One that I wanted the SEC to be known not only as a good regulator, but as a good facilitator of doing business,” Lim said.
The new policy sets clear processing timelines: simple applications will be handled within three working days, complex applications requiring evaluation or coordination within seven working days, and highly technical applications involving legal or financial reviews or interagency clearances within 20 working days. Applications governed by special laws will adhere to timelines specified in relevant statutes or the SEC Citizen’s Charter.
Under the new rules, applications with complete documentary requirements that remain unprocessed beyond the prescribed timelines will be automatically deemed approved, provided no notice of deficiency is issued. Once completeness is confirmed and the processing period lapses, the SEC will issue a Payment Assessment Form immediately, with requested documents released within two working days after payment of assessed fees.
To ensure accountability, approvals under the “deemed approved” policy will undergo post-approval evaluation. Applicants found to have submitted false or misleading information or failed to provide required documents may face penalties, including revocation of approvals. Lim noted that this safeguards the public’s right to pursue action against non-compliant applicants.
The policy excludes applications involved in ongoing legal proceedings, regulatory investigations, cases of fraud or misrepresentation, delays due to force majeure, or those requiring multi-agency evaluations where delays stem from other government agencies.
Applications with valid Payment Assessment Forms as of July 14, 2025, will be deemed approved upon payment, with documents released within two working days. Covered applications submitted at least 20 days before the Circular’s effectivity, except those reverted as of June 30, 2025, will receive Payment Assessment Forms within three days from July 14, with the same deemed approved rule applied.
Reverted applications must address deficiencies within 10 working days from July 14, or they will be considered abandoned, though refiling is permitted. Special procedures apply to certain applications, such as primary registrations and secondary licenses for lending and financing companies, clearances, business plan amendments, online lending platform disclosures, over-the-counter market approvals, and broker-dealer associations, due to public policy considerations.
This Circular aligns with broader reforms under Lim’s leadership, including a recent initiative to halve fees for securing document copies, easing costs for businesses seeking permits or loans.
“We recognize that predictability in regulatory action is vital to the business community, and with this policy, we are saying clearly: the SEC will act, and act swiftly,” Lim added.
