Finance Secretary Benjamin E. Diokno commended the Securities and Exchange Commission (SEC) for its efforts in ensuring the security of the people’s money and investments.

In his keynote speech for SEC’s 87th anniversary, Diokno said that the Commission has enforced investigations against security-related crimes by partnering with several organizations.

“Last year, I challenged the SEC to ramp up its enforcement and investor protection efforts to ensure the security of our people’s hard-earned money and investments,” Diokno said

“I am pleased that the SEC boldly took up the challenge by intensifying its enforcement capacities and efforts in collaboration with international organizations, national agencies, and local government units,” he added.

The SEC has recently partnered with the United States SEC and the Asian Development Bank to combat financial crimes.

On the local level, the SEC inked a data sharing agreement between national law enforcement agencies such as the Bureau of Internal Revenue, Philippine Amusement and Gaming Corporation, and Philippine National Police to help in preventing money laundering and other financial crimes.

“I also commend the Commission for partnering with local government units in raising public awareness on investment scams and other fraudulent schemes through the SEC Anti-Scam and Illegal Taking of Investments Group or SEC ASTIG,” Diokno said.

Further, the finance chief cited the SEC Rules and Regulations on the Financial Products and Services Consumer Protection Act of 2022, which mandated the Commission to protect financial consumers under its jurisdiction.

Prime investment destination

Diokno also added that the SEC has helped in the Marcos administration’s goal to establish the country as a prime investment destination.

The Commission was awarded the Corporate Registers Forum Innovation Award for the digital transformation of Philippine company registration through electronic processes.

He also noted several international recognitions it received for “championing good corporate governance and sustainability in the Philippine corporate sector.”

“These are extraordinary feats that can only be achieved by your consistent and unwavering commitment to excellent public service,” he said.

“As we cap this year’s World Investor Week and Investor Protection Week, we look back with pride on the Commission’s many achievements in faithful pursuit of its mandate,” he further stated.

Diokno urged the SEC to elevate the country’s business and capital markets to become one of the best in Southeast Asia.

“Beyond ensuring that businesses thrive, the Commission’s role in the Bagong Pilipinas national development agenda is to turn businesses into agents of economic and social transformation,” he said.