SEC, PSE form policy task force

The Securities and Exchange Commission (SEC) has formed a technical working group with the Philippine Stock Exchange (PSE) to speed up the drafting of new policies that will help in developing the capital market, such as the expansion of the minimum public ownership rule for listed companies.

- By JAMES A. LOYOLA

In an interview, SEC Chairman Francis E. Lim stated that establishing a technical working group will save time, as the group's recommendations will be the final version immediately.

This is compared to the usual back-and-forth between the SEC and PSE, with PSE initially drafting proposed rules and submitting them to the SEC, and the SEC returning them to the bourse for fine-tuning. The PSE then resubmits them to the regulator for approval.