The Securities and Exchange Commission (SEC) and the Department of Finance (DOF) have reaffirmed their unwavering commitment to implementing crucial reforms aimed at significantly enhancing the ease of doing business in the Philippines and further deepening its capital market. This commitment follows a courtesy visit by SEC Chairperson Francis Lim to Finance Secretary Ralph G. Recto on June 23.
During the meeting, Chairperson Lim outlined the SEC’s strategic priorities, which are aligned with President Ferdinand R. Marcos, Jr.’s directive to bolster the nation’s competitiveness in the capital market and attract greater investments.
“The SEC is ready to work with the DOF, under the leadership of Secretary Recto, to create a conducive environment that will encourage business formation and boost participation in the capital market,” stated SEC Chairperson Francis Lim. “The SEC remains steadfast in its commitment to transform the Philippine corporate sector into one of the best in Southeast Asia by fostering an inclusive capital market, capable of strongly contributing to overall economic growth and nation-building.”
Enhancing Ease of Doing Business
Since his appointment, Chairperson Lim has prioritized reducing backlogs and streamlining transaction requirements to ensure the robust implementation of Republic Act No. 11032, also known as the Ease of Doing Business and Efficient Government Service Delivery Act. Key initiatives include:
Digital Tracking System: The SEC will launch a real-time digital tracking system to enhance transparency in its processes and reduce the need for client follow-ups.
Reduced Fees: Following a review of its fee schedule, the SEC has issued Memorandum Circular No. 6, Series of 2025, which, effective July 1, has halved the fees for corporate data requests. The Commission is also considering a moratorium on fee increases for a specified period to broaden access to corporate data.
SME Support: The SEC aims to streamline the registration process for small and medium enterprises (SMEs).
Expanding Access: The repurchase market will be opened to non-bank financial institutions (NBFIs).
Consumer Protection: To improve consumer protection and support NBFI growth, the SEC will intensify its crackdown on illegal lending by reinforcing its supervisory authority to ensure compliance with truth-in-lending disclosure, fair lending standards, and the prohibition of abusive collection practices.
Deepening Capital Market Accessibility
Chairperson Lim also committed to the efficient implementation of Republic Act No. 12214, the Capital Markets Efficiency Promotion Act, a new legislation designed to lower tax rates for capital market-related transactions and expand investor participation for both local and foreign investors. Other market-focused initiatives include:
Crypto-Asset Regulation: Strict implementation of newly issued rules on crypto-asset service providers and their operations to support innovative securities while ensuring market integrity and investor protection.
REIT Act Revision: The Commission is looking at revising the implementing rules and regulations of Republic Act No. 9856, the Real Estate Investment Trust (REIT) Act, to better meet market demands.
Global Index Access: Empowering local corporations to tap global indices for funding as part of medium-to long-term goals for the corporate sector.
Alternative Investments: Crafting a roadmap for alternative investment products and derivatives, including options, futures, and a potential commodity futures market, to boost risk management and expand investment options.
Enhanced Oversight: Leveraging risk-based audits, enhanced digital monitoring tools, and continuous institutional capacity building to strengthen oversight of the corporate sector and capital market, as well as investor protection capabilities, in line with global best practices.
