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Courtesy of: Securities and Exchange Commission Philippines FB page |
This new tool is part of the SEC's "Fourth Wave of Digital Initiatives" designed to create a smarter, faster, and more efficient regulatory environment.
The eWATCH system empowers the SEC by automating compliance monitoring for SEC-registered corporations based on predefined criteria. It is designed to flag late or missing submissions and automatically calculate corresponding penalties, although it also allows for manual penalty input from a predefined list.
A key component of eWATCH's initial phase is the Notification Tool. This feature will send timely email reminders to corporations regarding their reportorial requirements, with the goal of improving on-time submission rates and reducing overall non-compliance.
According to information released by the SEC, the eWATCH system offers several key features:
- Automated and Manual Tracking
It enables the tracking of reportorial requirements for SEC-registered corporations, flagging late or non-submissions.
- Automatic Penalty Calculation
The system can automatically compute penalties for violations, while also providing an option for manual penalty additions from a set list.
- Timely Email Reminders
Corporations will receive email notifications to ensure adherence to submission deadlines, thereby minimizing instances of non-compliance.
The launch of eWATCH underscores the SEC's commitment to leveraging technology to streamline regulatory processes and foster a culture of compliance among Philippine corporations. This initiative is expected to make compliance less burdensome for businesses and more manageable for the regulatory body. The SEC has indicated that these technological upgrades are in line with the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
The eWATCH system was reportedly launched as part of a broader unveiling of six new digital platforms and a data center by the SEC in early May 2025.
