The Securities and Exchange Commission (SEC) assured the investing public and corporate sector that the Philippine capital market will remain open during the enhanced community quarantine (ECQ).
In a notice issues on August 5, the SEC reiterated that capital market institutions and participants may deploy on-site skeleton workforce while the National Capital Region and other areas are placed under another round of enhanced community quarantine from August 6 to 20.
The skeleton workforce of capital market participants are accordingly considered Authorized Persons Outside of Residence (APORs).
The exemption for capital market institutions and participants from the travel restrictions is provided under Section 2(c)(iv) of the Omnibus Guidelines on the Implementation of Community Quarantine in the Philippines, as amended.
To help ensure that the capital market’s skeleton workforce can travel and report on-site during the ECQ, the SEC issued a list of a list of capital market institutions and participants, which may be used as additional proof of their APOR status.
The list includes the Philippine Stock Exchange, Inc., Securities Clearing Corporation of the Philippines, Capital Market Integrity Corporation, Philippine Dealing and Exchange Corporation, Philippine Securities Settlement Corporation, and Philippine Depository and Trust Corporation.
The SEC also identified investment houses, investment houses engaged in dealing government securities, underwriters of securities engaged in dealing government securities, eligible dealers in government securities, investment company advisers, mutual fund distributors, brokers/dealers in securities, transfer agents, registrars of qualified buyers and mutual fund companies.
Under the Omnibus Guidelines, the skeleton workforce of capital market institutions and participants may present the following as proof of their APOR status: Inter-agency Task Force IDs issued by the regulatory agencies with jurisdiction over permitted establishments or persons; valid IDs or other pertinent documentation issued by accrediting organizations or establishments allowed under ECQ; and local IDs for availing of essential goods and services, if required by the local government unit.
The list may be presented by the skeleton workforce of capital market institutions and participants together with the supporting documents enumerated in the Omnibus Guidelines.
The SEC Main Office within the PICC Complex in Pasay City will likewise continue to operate with a skeleton workforce, from 9:00 AM to 3:00 PM, during the ECQ.
The public, however, is advised to transact business online. The SEC will continue implementing work-from-home and other alternative work arrangements, in accordance with the guidelines issued by the Civil Service Commission, to minimize the disruption in its operations.
For inquiries and other concerns, the public may reach the relevant department or office during office hours through the email addresses and phone numbers provided in the SEC Contact Center posted on the Commission’s website and official Facebook page.
The public is advised to monitor the SEC website at www.sec.gov.ph and official Facebook page at www.facebook.com/PhilippineSEC for more information and further announcements.