The Securities and Exchange Commission of the Philippines introduced the Verification of Electronic Records and Information Trust and Authentication System (VERITAS) under Memorandum Circular No. 23, Series of 2026. The blockchain-powered platform allows companies and registered entities to digitally sign and authenticate regulatory documents. The SEC launched VERITAS to modernize the submission process, strengthen document security, and improve regulatory interaction efficiency through trusted digital verification. The initiative aligns with internationally recognized digital governance practices and integrates blockchain into the SEC's existing Electronic SEC Universal Registration Environment (eSECURE) and Electronic Submission Authentication Portal (eSAP) platforms, advancing regulatory innovation while supporting fraud prevention and investor protection.
VERITAS Integrates Blockchain With eSECURE and eSAP Platforms
VERITAS will be integrated with the SEC's eSECURE and eSAP platforms, creating a more secure digital ecosystem for corporate filings. The SEC stated that VERITAS will integrate blockchain technology into its eSECURE and eSAP platforms, advancing digital governance while supporting regulatory innovation, fraud prevention, and investor protection. The new system will enable credentialed eSECURE users, including incorporators, directors, corporate officers, and other authorized representatives, to digitally execute documents required by the SEC. Eligible filings include articles of incorporation, corporate bylaws, certificates of authentication, and additional documents that the regulator may designate for digital authentication in the future.
Digital Documents Carry Same Legal Validity as Notarized Records
The SEC explained that documents digitally signed and authenticated through VERITAS will be recognized as properly executed and authentic for transactions involving the commission. In accordance with the Electronic Commerce Act, these electronically authenticated documents will carry the same legal validity and enforceability as traditionally signed and notarized documents, except in situations where existing laws specifically require notarization or another prescribed form of authentication. Although digitally authenticated documents will serve as the official records for SEC transactions, the regulator noted that existing regulations may still require the submission of physical copies in certain circumstances. The transition to fully digital documentation will continue alongside current compliance requirements where applicable.
Blockchain Ledger Records All Authentication Events
VERITAS records every document-signing event on a blockchain ledger and requires users to complete the eSECURE credentialing process before obtaining digital signing certificates generated exclusively within the platform. By maintaining blockchain-based records of authentication activities, the system is intended to create a transparent and tamper-resistant audit trail for regulatory filings. The circular emphasized the responsibilities of users in protecting their digital signing certificates and private cryptographic keys. The SEC warned that access to eSECURE could be suspended for individuals found to have misused digital credentials, manipulated blockchain records, or submitted falsified documents.
Platform Initially Optional With No Service Fees
The SEC clarified that the use of VERITAS will initially remain optional. Organizations that prefer the existing authentication process may continue using the Philippine National Public Key Infrastructure (PNPKI)-based verification system through eSAP. However, the regulator indicated that it may mandate VERITAS for specific filings or categories of registered entities in the future through a separate issuance following public consultation. The SEC announced that VERITAS will initially be offered at no cost, while reserving the authority to introduce reasonable service fees in the future to support network infrastructure and application maintenance if necessary.
FAQ
What is VERITAS and what does it do?
VERITAS is the Verification of Electronic Records and Information Trust and Authentication System introduced by the Philippine SEC under Memorandum Circular No. 23, Series of 2026. The blockchain-powered platform allows companies and registered entities to digitally sign and authenticate regulatory documents including articles of incorporation, corporate bylaws, and certificates of authentication.
Do digitally signed documents through VERITAS have the same legal validity as notarized documents?
Yes. According to the SEC, documents digitally signed and authenticated through VERITAS carry the same legal validity and enforceability as traditionally signed and notarized documents under the Electronic Commerce Act, except in situations where existing laws specifically require notarization or another prescribed form of authentication.
Is the use of VERITAS mandatory for all SEC filings?
No. The SEC clarified that the use of VERITAS will initially remain optional. Organizations may continue using the Philippine National Public Key Infrastructure (PNPKI)-based verification system through eSAP. However, the regulator indicated that it may mandate VERITAS for specific filings or categories of registered entities in the future through a separate issuance following public consultation.
