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Manila Bulletin devider Business devider SEC reaps awards as champion of good governance

SEC reaps awards as champion of good governance

Published Jun 3, 2022 02:26 pm

SEC reaps awards as champion of good governance

By JAMES A. LOYOLA

The Securities and Exchange Commission (SEC) continues to reap global recognition as an advocate of good governance and transparency in the Philippine corporate sector.

Cambridge International Financial Advisory (Cambridge IFA) named the SEC recipient of the Global Good Governance (3G) Advocacy and Commitment to Corporate Governance Award for the second consecutive year.

Securities and Exchange Commission Chairperson Emilio B. Aquino receives the 3G Advocacy and Commitment to Corporate Governance Award and the 3G Transparency Award during the 7th Annual 3G Awards Ceremony held in Dubai on May 18.

In addition, the SEC received the 3G Transparency Award during the seventh installment of the annual 3G Awards Ceremony held by the London-based finance advisory on May 18 in Dubai, United Arab Emirates.

The 3G Advocacy and Commitment to Corporate Governance Award honors organizations, which have demonstrated a strong commitment to corporate governance practices and have maintained a sustainable corporate strategy and business policy geared to long-term value for shareholders, problem-solving skills, and competence in dealing with change.

Cambridge IFA also named the SEC recipient of the 3G Advocacy and Commitment to Corporate Governance Award in the sixth installment of the annual 3G Awards Ceremony in May 2021.

Meanwhile, the 3G Transparency Award recognizes an organization with the most rigorous and transparent reporting on financials, governance and strategy.

“We take these awards as an affirmation of our unwavering effort to champion good governance, transparency and social responsibility in the Philippine corporate sector with the end goal of a better future for Filipinos,” SEC Chairperson Emilio B. Aquino said as he received the awards.

He added that, “As we receive these recognitions, we hope to inspire more meaningful changes in corporations’ governance and business practices, and unlock their potential to contribute to sustainability and development in the Philippines and in the world.”

As regulator of the corporate sector and the Philippine capital markets, the SEC has consistently promoted corporate governance practices to serve as model for the sector it oversees.

It has also advocated for reforms through the adoption of corporate governance codes, sustainability reporting guidelines, and similar rules.

The Commission likewise adheres to global development initiatives as member of international organizations such as the International Organization of Securities Commissions, ASEAN Capital Markets Forum, the Global Financial Innovation Network, and the International Forum of Independent Audit Regulators, among others.

This year, the SEC has successfully maintained the ISO 9001:2015 Certification of its quality management system covering all core services across its main and extension offices.

The SEC was likewise named Circle of Excellence Awardee for the Best Sustainability Company of the Year in the Asia CEO Awards in 2021.

Prior to that, the Commission received the ISAR Honours from the United Nations Conference on Trade and Development in 2019 for instituting sustainability reporting in the corporate sector.

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