SEC Requires Online Filing of Registration Statements Through OARS
The Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular No. 24, Series of 2026, making the Online Application for Registration Statements (OARS) the required channel for covered registration-statement applications. The circular, dated 26 August 2026, forms part of the SEC’s broader transition to digital filing and review of capital-market applications.
OARS concerns the registration of securities offered or sold to the public and should not be confused with the SEC’s ordinary company-incorporation portals. A corporation may already possess a Certificate of Incorporation but still require a separate registration statement, secondary licence, or exemption analysis before offering securities. The correct filing route therefore depends on the proposed transaction, the investors being approached, and the applicable provisions of the Securities Regulation Code.
Applicants should prepare for an electronic workflow by organizing corporate approvals, audited financial information, offering documents, material contracts, risk disclosures, ownership information, and other supporting records in the prescribed form. Names, dates, financial figures, and disclosures should be consistent across all documents because electronic submission does not reduce the applicant’s responsibility for accuracy and completeness.
The SEC has stated that moving public-offering applications online is intended to reduce manual handling and improve processing efficiency. Companies and advisers should nevertheless account for validation issues, requests for clarification, filing-fee requirements, and substantive regulatory review. Uploading documents does not by itself mean that the securities have been approved for public offering.
The official issuance is available through the SEC’s page for Memorandum Circular No. 24, Series of 2026. Businesses needing assistance with Philippine incorporation and regulatory setup may review BizzureVisa’s Company Formation and Business Registration service or contact us. This article provides general information and does not determine whether a particular securities transaction requires registration.
