Under its new leadership, the Securities and Exchange Commission (SEC) remains committed to implementing reforms that will further enhance the ease of doing business in the Philippines and deepen the capital market.

In a courtesy visit to Finance Secretary Ralph G. Recto, new SEC Chairperson Francis Lim shared the commission’s key priorities to develop the business sector and the capital market, in line with the directive of President Ferdinand R. Marcos, Jr. to boost the competitiveness of the capital market and drive investments in the country.

“The SEC is ready to work with the DOF, under the leadership of Secretary Recto, to create a conducive environment that will encourage business formation and boost participation in the capital market,” Lim said.

He added that, “The SEC remains steadfast in its commitment to transform the Philippine corporate sector into one of the best in Southeast Asia by fostering an inclusive capital market, capable of strongly contributing to overall economic growth and nation-building.”

Following his appointment as SEC chair, Lim has emphasized his goal of reducing backlogs and streamlining transaction requirements to ensure the proper implementation of the Ease of Doing Business and Efficient Government Service Delivery Act.

To this end, he said the SEC will launch a real-time digital tracking system that will enhance transparency in its process and reduce the need for client follow-ups.

During the meeting with Recto, Lim committed to review the Commission’s schedule of fees, with the aim of lowering the cost for requests for physical and digital copies of documents.

The SEC has since issued Memorandum Circular No. 6, Series of 2025, which effectively reduced by half the fees and charges for corporate data requests with the Commission beginning July 1.

Likewise, the SEC will look at the imposition of a moratorium on fee increases for a specified period to enable greater access to corporate data.

The SEC also aims to streamline the registration process for small and medium enterprises and open the repurchase market to non-bank financial institutions (NBFIs).

To improve consumer protection and support the growth of NBFIs, the SEC will intensify its crackdown against illegal lending by reinforcing its supervisory authority to promote and ensure compliance with truth-in-lending disclosure, fair lending standards, and the prohibition of abusive collection practices.

Lim has also committed to the efficient implementation of the Capital Markets Efficiency Promotion Act, a new legislation that lowers the tax rate for capital market-related transactions and seeks to expand investor participation for both local and foreign investors.

The SEC will further strictly implement its newly issued rules on crypto-asset services providers and their operations, in a bid to support the growth of innovative securities while ensuring market integrity and promoting investor protection.

Consistent with its goal of deepening the capital market, the Commission is looking at revising the implementing rules and regulations of the Real Estate Investment Trust Act to better meet market demands.

The SEC is gearing towards implementing regulatory reforms that will empower local corporations to tap global indices for funding, as part of its medium- to long-term goals for the corporate sector.

To boost risk management and expand investment options, the SEC will craft a roadmap for alternative investment products and derivatives, including options, futures, and a potential commodity futures market.

The SEC also vowed to leverage risk-based audits, enhanced digital monitoring tools, and continuous institutional capacity building to strengthen its oversight over the corporate sector and the capital market, as well as its investor protection capabilities, in line with global best practices.