Daily Tribune‘We are united in achieving President Ferdinand R. Marcos Jr.’s vision of a digital economy powered by a strong and robust business sector that can uplift the lives of our fellow Filipinos.’
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Collaboration between government agencies is fashion within the Marcos administration, and the Securities and Exchange Commission is leveraging its strong relationship with the Office of the Special Assistant to the President for Investment and Economic Affairs to lure more capital market investments.
SEC chairperson Emilio B. Aquino said the inter-agency collaboration aims to ease doing business for all by offering democratized access to capital.
“We are united in achieving President Ferdinand R. Marcos, Jr.’s vision of a digital economy powered by a strong and robust business sector that can uplift the lives of our fellow Filipinos,” Aquino said.
Early this week, SEC presented its priority plans, activities, and programs to Special Assistant to the President for Investment and Economic Affairs, Secretary Frederick D. Go.
“Together with Secretary Go and the administration’s economic team, the SEC will work hard to meaningfully contribute to the country’s progress by developing the capital market, improving the ease of doing business, fostering sustainability, and protecting the investing public,” he added.
Last year, the SEC streamlined the application process for public offerings by clarifying the years of financial information required by issuing SEC Memorandum Circular No. 13, Series of 2023. It strictly implemented a 45-day processing period for public offering applications.
In addition, the SEC shortened the settling of trades to two days from three days, as provided under Memorandum Circular No. 11, Series of 2023.
It allows investors to receive proceeds from securities trades within two days while reducing risk exposure for trading participants by one day.
Short selling was likewise operationalized last year by the Philippine Stock Exchange, based on guidelines approved by the SEC, giving investors more ways to manage risks and carry out trading strategies in the stock market.
