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Manila Bulletin devider Business devider SEC taps 18 partners for financial literacy drive

SEC taps 18 partners for financial literacy drive

Published Jan 24, 2022 03:28 pm

The Securities and Exchange Commission (SEC) has tapped institutional partners to expand the reach of its financial literacy campaign that aims to encourage Filipinos to place their money in safe and secure investments.

In its report to Finance Secretary Carlos G. Dominguez III, the SEC said its recent financial literacy campaign on social media (socmed) has reached close to one million people, with over 240,000 views and clicks, and 43,000 engagements as of the last quarter of 2021.

SEC Chairman Emil Aquino said they now have 18 campaign network members, which include its pioneer partners Philippine Stock Exchange Inc., Department of Education, Commission on Higher Education, and Integrated Bar of the Philippines.

Also included are the Clark Development Corp., National Youth Commission, Philippine Investment Fund Association, and Philippine Institute of Certified Public Accountants (PICPA).

In addition, the SEC also has the Financial Executives Institute of the Philippines, Overseas Workers Welfare Administration and the Association of Certified Public Accountants in Public Practice.

Its network also now has new partners that include the Fund Managers Association of the Philippines, Good Governance Advocates and Practitioners of the Philippines, and Investment House Association of the Philippines,

Moreover, the Philippine Dealing & Exchange Corp., Philippine Finance Association, Philippine Medical Association and Junior Financial Executives-PUP (JFINEX-PUP) are among the r new network members of the SEC.

Aquino also said SEC will aim to list 888 companies in the capital markets for corporate financing or capital raising by the time the commission celebrates its 88th anniversary in 2024.

The current number of publicly listed companies is 274, with another four waiting to be listed and three with pending applications this year.

Over the 2022-2024 period, Aquino said the SEC will access crowdfunding portals to target companies for listing, along with micro, small and medium enterprises (MSMEs), other large firms and companies with franchises, to achieve its goal of listing 888 firms over this three-year period.

Earlier, the SEC coordinated with the Philippine Sports Commission (PSC) to ask the country’s Olympic medalists to serve as investor advocates or endorsers of its financial literacy campaign.

It signed up as investor champions Olympic medalists for boxing Eumir Marcial, Carlo Paalam, and Nestshy Petecio, among others.

The SEC’s model of an “investor champion” is one saving for his or her future by making good rational investments, and influencing other people to take the same steps towards their financial health.

Related Tags

SEC Carlos G. Dominguez III Emil Aquino Securities and Exchange Commission SEC Chairman Finance Secretary
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