SEC receives commendation from Office of the President for boosting capital market, corporate sector

The Office of the President commended the Securities and Exchange Commission (SEC) for championing the business sector and the investing public, as the Commission recognized partner individuals and institutions that played a key role in the success of its programs in its 88th year.

Special Assistant to the President (SAP) for Investment and Economic Affairs of the Philippines Frederick D. Go lauded the SEC for crafting policies that aim to improve and expand the Philippine stock market, following his earlier challenge to the Commission to support the market’s recovery and make it more competitive.

“I'm very happy to say that […] less than a year after, we have actually done everything that we said we should do, and we were able to actually come out with all those rules and regulations that will make the process of applications, whether an IPO (initial public offering), otherwise simpler, faster and better,” SAP Go said during the 88th SEC Anniversary and Appreciation Night at The SEC Headquarters in Makati City.

Early this year, the SEC issued Memorandum Circular (MC) No. 8, Series of 2024 which provided guidelines for cornerstone investors in IPOs to stimulate investor demand, among other policies. It also issued rules removing the minimum commission charged by stockbrokers to enhance market flexibility.  

SAP Go further cited the Commission’s digital initiatives that accelerated the process of incorporation for both local and international businesses, in line with his request to make it at par with the best processes in the neighboring countries.

In July, the Commission launched five new digital tools which include the SEC Zuper Easy Registration Online (ZERO) and the Electronic Submission Authentication Portal (eSAP), which removed the requirement for wet signatures and notarization, allowing Filipinos to incorporate their businesses anytime from anywhere in the world.

The SEC also launched this year the SEC Foreign Investment Registration Station, a system dedicated to process the registration of foreign-owned corporations in a bid to attract foreign investments in the country.

Due to these initiatives, the SEC saw nearly 50,000 new company registrations, proof that corporate registration has now become more efficient.

“It is my hope that the SEC will remain a strong partner of progress for the Philippine economy. [Y]our presence will, of course, prove crucial in protecting investors, building trust in our financial systems and making the Philippines a better place for investments,” SAP Go said.

Meanwhile, Executive Secretary Lucas P. Bersamin emphasized that the Philippines has been viewed positively by other foreign officials and business groups, noting that the country was “on the right track” due to the market’s continuous expansion.

“That is partly due to your contributions to this effort of attracting investments and managing the business side of life in the Philippines,” ES Bersamin said in his keynote speech during the 88th SEC Anniversary and Appreciation Night.

“The administration is keen on encouraging market improvement,” he added.

Recognizing individual, institutional partners
The SEC recognized a total of 75 partner individuals and institutions from both the public and private sector for their significant contributions in implementing the Commission’s key programs that aim to drive the growth of the business sector and the overall capital market.

Recognitions were given in five categories representing the Commission’s key mandates, namely ease of doing business, capital market development, investor education and protection, sustainability and good corporate governance, and organizational development.

“This year has been a testament to excellence. We are honored to have received various recognitions that highlight the quality of work that the SEC puts in to champion the corporate sector, the capital market, and the protection of the investing public,” SEC Chairperson Emilio B. Aquino said in his opening remarks.

“But we know that the SEC could not have achieved these things without the support of our dear partners under the SEC CAMPAIGN Network,” Chair Aquino added. “Our relentless cooperation in fulfilling our shared advocacies helped us reach greater heights for SEC.”

The 88th Anniversary and Appreciation Night served as the culmination of the Investor Protection Week (IPW) celebration, which aimed to guide Filipinos in making smart financial decisions through a series of seminars held from November 18 to 2022.

The 2024 IPW was marked by a week-long investor fair which featured speakers from government institutions, private organizations, and banking and financial institutions who shared their expertise to better guide the public in their own financial journeys.

Below are the individuals and organizations recognized by the SEC during the 88th Anniversary and Appreciation Night:

I. For championing Ease of Doing Business

1. 8888 Citizens’ Action Complaint Center
2. Amazon Web Services, Inc. 
3. Bureau of the Treasury
4. City Government of Makati
5. Comclark Network & Technology Corp.
6. CTX Technologies, Inc.
7. Department of Information and Communications Technology and DICT Cybersecurity Bureau
8. I-Pay Myeg Philippines, Inc.
9. Land Bank of the Philippines
10. Makati Central Estate Association, Inc.
11. Maya Philippines, Inc.
12. Paycools
13. Presidential Action Center
14. Procurement Service - Department of Budget and Management
15. SMS Global Technologies, Inc. and Cyan Technologies Partners, Inc.
16. Mr. Mario B. Lamberte, Ph.D. of UPPAF Respond
17. Mr. Alden C. Ong
18. Mr. Kim Villa Policarpio
     

II. For Championing Capital Market Development

1. Asean Capital Markets Forum
2. Asian Development Bank
3. Association of Certified Public Accountants in Public Practice
4. Auditing and Assurance Standards Council
5. Bangko Sentral ng Pilipinas
6. Financial And Sustainability Reporting Standards Council
7. Fintech Alliance.Ph
8. Fintech Philippines Association
9. Gcash
10. Gorriceta Africa Cauton & Saavedra Law
11. International Monetary Fund
12. M Law
13. Philippine Dealing and Exchange Corp.
14. Philippine Digital Asset Exchange, Inc.
15. Philippine Interpretations Committee
16. The Philippine Stock Exchange, Inc.
17. Capital Markets Development Division - Market Education Department of the PSE
18. Philippine Depository and Trust Corp.
19. Securities Clearing Corporation of the Philippines
20. World Bank Group - Finance, Competitiveness, and Innovation - East Asia and Pacific Region
     

III. For Championing Investor Education and Protection

1. BDO Foundation, Inc.
2. Boy Scouts of the Philippines
3. Department of Education
4. Empower and Transform, OPC
5. G-Xchange
6. Institute of Corporate Directors
7. JCI Senate Philippines
8. Maja Salvador
9. Rambo Nuñez
10. Department of Justice Prosecution Docket Section
11. Department of Migrant Workers
12. Economic Journalists Association of the Philippines
     

IV. For Championing Sustainability and Good Corporate Governance

1. Global Reporting Initiative
2. Mr. Joseph Ian M. Canlas of Sycip Gorres Velayo & Co.
3. Komunidad Global Services & Operations Philippines, Inc.
4. Microfinance Council of the Philippines, Inc.
5. Philippine Sustainability Reporting Committee
6. Dr. Ma. Piedad S. Geron of the Asian Development Bank
7. Mr. Peter Rosenkranz of the Asian Development Bank
8. United Nations Development Programme 
9. Mr. Juanito T. Gomez III of the UNDP
    

V. For Championing Organizational Development

1. Association of Government Accountants of the Philippines
2. Association of Government Internal Auditors, Inc.
3. Career Executive Service Board
4. Civil Service Commission
5. Commission on Audit
6. Department of Budget and Management
7. Government Financial Management Innovators Circle, Inc. 
8. Inspiring Partners, Inc. - Ms. Janet Webster and Mr. Gerry Plana
9. Makati City Fire Station
10. National Mapping and Resource Information Authority
11. Philippine Rice Research Institute
12. Statistical Classifications Division, Censuses and Technical Coordination Office of the Philippine Statistics Authority
13. Philippine Institute of Certified Public Accountants, Inc.
14. University of the Philippines Law Center - Institute of Government and Law Reform
15. Mr. Joel C. Amante, Ph.D. Of WQA Phils.
16. Atty. Jose Tomas C. Syquia

This is a paid press release from the Securities and Exchange Commission.