Duterte appoints new SEC chairperson

President Rodrigo Duterte on Wednesday appointed Emilio Aquino as the new chairperson of the Securities and Exchange Commission (SEC).

LOOK: Duterte appoints SEC Commissioner Emilio Aquino as new chairman of the corporate regulator | via @Ted_Cordero pic.twitter.com/C5AhqRhkZG

— GMA News (@gmanews) June 6, 2018

Emil Aquino takes oath as new chair of SEC | via @Ted_Cordero pic.twitter.com/4v48arIV7c

— GMA News (@gmanews) June 6, 2018

Aquino will serve a term of seven years. He will replace outgoing SEC chairperson Teresita Herbosa, whose term expired in March.

In December 2016, Aquino was appointed commissioner of the SEC replacing Manuel Huberto Gaite, whose term expired on March 11, 2016. — BM, GMA News