SEC forges more tie-ups, gets cited for governance

MANILA, Philippines — The Securities and Exchange Commission (SEC) has committed to continue helping businesses thrive and by preventing laundering and financial fraud through more partnerships with other government agencies.

During its 87th anniversary celebration last week, the SEC acknowledged 71 partners, individuals, and organizations from both the public and private sectors for their contributions in five areas, namely ease of doing business, capital market development, sustainability and good corporate governance, investor protection and protection, and organizational development.

SEC chairperson Emilio Aquino said the different partners and stakeholders have all helped the corporate regulator in fulfilling its mandate.

The SEC said it also welcomed four new partners into the SEC Capital Markets Promotion and Awareness Inter-Agency Network (SEC CAMPAIGN Network).

They include BDO Foundation Inc., fintech companies Maya and G-Xchange, Inc., as well as Empower and Transform OPC,.

The 87th anniversary event also served as the culmination for SEC’s annual celebration of Investor Protection Week (IPW).

This year’s IPW celebration was marked by webinars, roadshows, and several informational materials aimed at leading the investing public toward a secure and comfortable life through smart and sustainable investments.

Likewise, the Department of Finance (DOF) recognized the SEC for being a global champion of good governance.

Finance Secretary Benjamin Diokno commended the regulator’s efforts to ensure the integrity of the Philippine financial system, citing the programs to intensify enforcement capacities and collaboration with both international and local organizations.

He said that beyond ensuring that businesses thrive, the SEC’s role in the Bagong Pilipinas national development agenda is to turn businesses into agents of economic and social transformation.

Diokno likewise highlighted the SEC’s implementation of the SEC Rules and Regulations on Republic Act 11765, or the Financial Products and Services Consumer Protection Act of 2022, which strengthened its mandate of protecting financial consumers.

In strengthening law enforcement, he said the SEC’s data sharing agreements with law enforcement agencies are a step in the right direction.

These agencies include the Bureau of Internal Revenue, Philippine National Police, and Philippine Amusement and Gaming Corp., noting their potential impact in preventing money laundering and other financial crimes.