The Securities and Exchange Commission (SEC) announced the opening of its new extension office in Lipa City, in line with its efforts to facilitate business formation, invest in high-growth regions, and keep a closer watch on fraudulent and abusive practices in the corporate sector.

The SEC on Dec. 17 inaugurated the SEC Lipa Extension Office located on the second floor of CARNES Building along P. Torres Street in Poblacion Barangay 8 in Lipa City, Batangas.

“The SEC Lipa Extension Office reaffirms our commitment to providing greater and more effective access to our services, ensuring consistent enforcement of corporate and securities regulations, and establishing closer coordination with partners indispensable in the implementation of our plans and programs at the local level,” SEC Chairperson Emilio B. Aquino said.

The SEC Lipa Extension Office will exercise jurisdiction over cities and provinces within the Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) and Mimaropa (Mindoro, Marinduque, Romblon, and Palawan) regions.

Moving forward, the SEC Lipa Extension Office will handle applications for registration of corporations based in Calabarzon and Mimaropa. It will also take over the monitoring of existing corporations’ compliance with their reportorial requirements under pertinent laws, rules and regulations.

“As the gateway to doing business in the Philippines, we always strive to improve the efficiency and accessibility of our services. With our new extension office in Lipa City, we hope to encourage more businesses to incorporate, and contribute more to the growth of this dynamic and diverse region,” Aquino said.

Driven by its diverse industries and proximity to Metro Manila, the Southern Tagalog region has witnessed robust economic growth, with Calabarzon contributing the second-largest share among all regions in the industrial sector and accounting for 14.7 percent of the national gross domestic product.

Through the SEC Lipa Extension Office, the commission also looks to improve its regulatory oversight in the region to ensure that businesses strictly comply with the laws and regulations implemented by the SEC to foster transparent and fair business practices.

“Because they are closer to the ground, our extension offices allow the Commission to closely monitor and more promptly tackle fraudulent activities such as investment scams and illegal lending,” Aquino noted. 

He added that “at the same time, through our extension offices, the Commission can better amplify its information, education, communication and advocacy campaigns, which are vital in protecting the public from investment scams, illegal lending and other predatory schemes.”

The SEC Lipa Extension Office marks the commission’s third extension office opened this year, following the extension offices in Koronadal in September and Butuan in March. This brings the Commission extension offices to 13, with the other offices located in Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Tacloban, Zamboanga, Davao, and Cagayan de Oro.