More capital market reforms on the horizon

Under its new leadership, the Securities and Exchange Commission (SEC) remains committed to implementing reforms that will further enhance the ease of doing business in the Philippines and deepen the capital market.

- BY JAMES A. LOYOLA

In a courtesy visit to Department of Finance (DOF) Secretary Ralph G. Recto, new SEC Chairperson Francis Lim shared the Commission's key priorities to develop the business sector and the capital market, in line with the directive of President Ferdinand R. Marcos Jr. to boost the competitiveness of the capital market and drive investments in the country.

"The SEC is ready to work with the DOF, under the leadership of Secretary Recto, to create a conducive environment that will encourage business formation and boost participation in the capital market," Lim said.

He added that, "The SEC remains steadfast in its commitment to transform the Philippine corporate sector into one of the best in Southeast Asia by fostering an inclusive capital market, capable of strongly contributing to overall economic growth and nation-building."

Following his appointment as SEC chair, Lim has emphasized his goal of reducing backlogs and streamlining transaction requirements to ensure the proper implementation of the Ease of Doing Business and Efficient Government Service Delivery Act.