New Securities and Exchange Commission (SEC) Chairman Francis Ed. Lim President aims to transform the commission into “a no-nonsense regulator—firm when necessary, but always fair, efficient, reliable, and professional.”

Lim officially took over on June 10, 2025, from Emilio B. Aquino after the end of his seven-year term. President Ferdinand R. Marcos, Jr. named Lim to the top position of the country’s company registrar and securities regulator on June 3.

During the turnover ceremony, the former Philippine Stock Exchange president said, “I thank those who came before me—especially Chairperson Emil Aquino, who led the Commission over the past seven years…

“I commend your vision and commitment to transforming the SEC through SuperVision 2028. It is a bold, forward-looking roadmap, and we will carry it forward and refine it when needed or appropriate.

“But let me be clear: proper execution is key and foremost—because vision without delivery is simply aspiration. Execution is where we will focus our energies.”

He noted that, “I don’t believe in reinventing the wheel. We will build on what works—refine it, improve it, and scale it with urgency and discipline. Continuity in best practices is just as important as innovation.”

Lim said he also envisions the SEC as “One that enables investment and business growth without compromising on integrity.”

“Let’s also be honest: the Philippine capital market has been lagging behind. Inclusive growth demands deeper, broader, and more accessible capital markets,” he added.

He said the SEC will work with the Philippine Stock Exchange, Philippine Dealing and Exchange Corp., non-governmental organizations, and the three branches of government to push for meaningful reforms.

For his first order of business, Lim plans to “resolve all pending applications quickly and responsibly,” in line with time frames provided by law and pointing out that, “While we recognize the complexity of our work, we must uphold the standards. If this means working nights, weekends, or holidays, then that is what public service demands.”

“We will work to further simplify and streamline everything we ask from the public. I know that some steps have been undertaken along this line, and we are committed to pursue them with more vigor. Every requirement must be justified…Let’s make it easier to comply, and harder to delay,” he said.

Lim said the SEC will also work to lower the cost of transaction for businesses particularly the micro, small and medium enterprises (MSME) since “Regulation must support, not suffocate.”

In a media huddle after the turnover ceremony, Lim said he will be looking at government-owned and controlled enterprises that can be encouraged to list at the Philippine Stock Exchange (PSE).

He added that he will also be looking at private enterprises that were given government incentives with the commitment that they are to list part of their shares in the stock market.

“That's not been fully implemented. The philosophy of the is that you are given incentives, you share the blessings to the public. Unfortunately, that has not been done,” he said.

Lim also plans to push for the passage of a "Capital Market Competitiveness Act,” the draft of which he was working on during his stint in the PSE. Lim said intends to work with the PSE in revisiting the draft bill, which aims to ease up the cost of doing business for companies that do list in the stock market.

Prior to his appointment, Lim was a senior legal counsel at ACCRA Law, with expertise in securities and capital markets litigation, bankruptcy, insolvency, corporate rehabilitation, antitrust, and trade regulation.

He previously served as the president and chief executive officer of the Philippine Stock Exchange from 2004 to 2010, where he concurrently held positions in affiliated institutions, including the Securities Clearing Corporation of the Philippines and the Philippine Dealing and Exchange Corporation.

Lim has also been instrumental in drafting several rules promulgated by the Supreme Court as co-chairperson of the Rules on e-Commerce and Notaries Public sub-committees. He was likewise a member of the sub-committee on Commercial Courts, where he helped draft the Rules on Corporate Rehabilitation (2008) and Rules on Electronic Evidence (2011), among others.

For his work, Lim has been consistently recognized as a top lawyer by various bodies. He was named a Leading Lawyer in the practice area of capital markets by the Legal 500 Asia Pacific, and as a recommended lawyer in the practice area of tax in 2021. He was also part of the Philippines’ Top 100 Lawyers published by the Asia Business Law Journal in the same year.