SEC eyes more capital market reforms in 2025

MANILA, Philippines — The Securities and Exchange Commission (SEC) plans to implement more reforms aimed at further strengthening the corporate sector and the capital market in 2025.

The SEC said it is entering the New Year with a stronger commitment to implementing policies and reforms that would further boost the capital market, strengthen the corporate sector and support the country’s overall economic growth.

Heading into its 89th year of operations, the commission said that it is building on the milestones it achieved in 2024 that helped improve the ease of doing business, promote sustainability and corporate governance, expand the capital market and protect the investing public.

“We are leaving 2024 with much needed changes implemented to enhance the business sector,” SEC chairperson Emilio Aquino said.

“As we embark on our 89th year, we will remain steadfast in transforming the capital market to support the growth of a sound and dynamic economy,” he said.

The SEC’s digitalization efforts have resulted in a rise in company registrations.

The commission said that company registrations are on track to hit a new record high for 2024, with 49,432 registrations recorded from January to November, representing a six-percent year-on-year growth.

According to the SEC, the digitalization of its services is in line with efforts to achieve zero-contact and paperless transactions.

To further ease its processes as well as doing business in the Philippines, the SEC has launched five new digital platforms under the third wave of its digital initiatives in 2024.

Reforms and collaborations with various institutions and stakeholders were also undertaken to boost the capital market and market participation.

The commission implemented policies that made the capital market a viable financing option for players in various industries including power, real estate and agribusiness.

It also leveraged the capital market to serve as a tool to support green and sustainable products and approved the country’s first blue bond offering under recently issued guidelines.

With the commission’s intensified efforts to boost the capital market, the SEC said that it attained its goal of bringing the total number of companies that have raised fresh funds through the public offering of securities and crowdfunding to 888 in time for its 88th year.

“Looking back, the SEC has been relentless in its efforts to improve its services through digitalization and implementation of reforms that seek to create a conducive environment that will encourage businesses to incorporate and tap the capital market,” Aquino said.

The SEC has likewise intensified investor protection and education through prompt enforcement action and promotion of financial literacy.

A total of 106 advisories has been issued by the commission as of end-October to warn the public about unauthorized and illegal investment-taking activities and schemes and prevent them from falling prey to such scams.

The SEC also stopped the operations of those involved in fraudulent activities with the issuance of 18 cease and desist orders against 42 entities as well as revocation orders against 24 groups.

Criminal complaints against 68 individuals were also filed with the Department of Justice for violating the Securities Regulation Code and the Financial Products and Services Consumer Protection Act to ensure that they will be penalized accordingly for their illegal activities.