SEC chief Francis Lim outlines reforms to boost investment and oversight

Newly appointed Securities and Exchange Commission (SEC) chair Francis Lim outlined several regulatory reforms aimed at boosting competitiveness and investment in the Philippines.

Lim's priorities include revising REIT regulations, enabling local corporations to access global indices, creating a roadmap for alternative investment products such as options and futures, and developing a commodity futures market to enhance risk management and investment options.

The SEC will also focus on leveraging digital monitoring tools and institutional capacity building to strengthen oversight and investor protection, aligning with global best practices.

To improve ease of doing business, the SEC plans to reduce backlogs, streamline transaction requirements, introduce a real-time digital tracking system for transparency, and consider imposing a moratorium on fee increases.

In addition, Lim emphasized enhancing consumer protection by intensifying efforts against illegal lending and implementing new regulations on crypto-asset service providers.