DOF lauds SEC for championing businesses, investors on 87th year

MANILA, Philippines — The Securities and Exchange Commission (SEC) recognized partners who have helped fulfill its role as business and investor champion during its 87th year, as the commission itself was lauded by the Department of Finance (DOF) for being a global champion of good governance.

DOF Secretary Benjamin Diokno commended the commission’s efforts to ensure the integrity of the Philippine financial system, citing the awards it received and programs to intensify enforcement capacities and collaboration with both international and local organizations.

“The president made an important call to the SEC when he inaugurated this very hall a few months ago,” Diokno said in his keynote speech delivered virtually during the SEC 87th Anniversary and Appreciation Night on November 10 at The SEC Headquarters in Makati City.

“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 added.

The DOF secretary highlighted the commission’s implementation of the SEC Rules and Regulations on Republic Act No. 11765, or the Financial Products and Services Consumer Protection Act of 2022, which strengthened its mandate of protecting financial consumers.

He also emphasized the importance of data sharing agreements signed by the SEC and law enforcement agencies such as the Bureau of Internal Revenue, Philippine National Police and Philippine Amusement and Gaming Corporation, noting their potential impact in preventing money laundering and other financial crimes.

Further, the DOF lauded the SEC for garnering various local and global awards in 2023.

For the third consecutive year, the SEC received the Global Good Governance (3G) award for upholding good corporate governance practices and pushing for sustainability by London-based Cambridge International Finance Advisory.

Last October, the Philippines was touted as having one of the best business registration systems in the world during the 2023 Corporate Registers Forum Conference in Malta, thanks to its launch of the Electronic Simplified Processing of Application for Registration of Companies (eSPARC).

Most recently, Aquino was named as the first Public Sector Innovator in the 2023 Mansmith Innovation Awards, given the commission’s strides in digital transformation toward improving ease of doing business.

“The international recognitions you received this year affirm your deep commitment to raise the global competitiveness of the Philippine business and capital markets,” Diokno said.

Recognizing business and investor champions

The SEC capped off its 87th anniversary celebration by acknowledging 71 partners individuals and organizations from both the public and private sectors for their contributions in five areas.

These are: ease of doing business, capital market development, sustainability and good corporate governance, investor protection and protection, and organizational development.

Awardees included the Bangko Sentral ng Pilipinas, Insurance Commission, Board of Accountancy, Professional Regulation Commission, Land Bank of the Philippines, Asian Development Bank and the US Agency for International Development, among others.

This year’s awardees also included universities such as the Polytechnic University of the Philippines, University of the East, De La Salle University – Lipa, Far Eastern University and Bulacan State University.

“The SEC achieved an overwhelming number of other equally prestigious recognitions and historical milestones this year,” Aquino said during the event.

“As a firm believer and practitioner of gratitude, I made sure that we hold this special ceremony to show our appreciation to you, our valued stakeholders who unceasingly support the SEC and our SuperVision 2028,” he added.

Alongside the anniversary celebration, the SEC welcomed four new partners into the SEC Capital Markets Promotion and Awareness Inter-Agency Network (SEC CAMPAIGN Network) through a signing ceremony.

The new SEC CAMPAIGN Network partners include BDO Foundation Inc., fintech companies Maya and G-Xchange Inc., as well as Empower and Transform OPC.

The 87th Anniversary and Stakeholder Appreciation Night also served as the culmination for the commission’s annual celebration of Investor Protection Week (IPW).

This year’s IPW celebration was marked by webinars, roadshows and several informational materials aimed at leading the investing public toward a secure and comfortable life through smart and sustainable investments.

87th SEC Anniversary and Appreciation Night - Awardees

Ease of Doing Business

1. Dr. Erwin Vincent Alcala

2. Atty. Juan Paolo Villonco, CEO of Ignition Innovations Inc.

3. DICT-Cybersecurity Bureau

4. Cyber-Q Group

5. Amazon Web Services

6. Giancarlo Angulo

7. MYEG Philippines

8. CYAN Technologies Partners Inc.

9. Microimaging Sales and Services Inc.

10. CTX Technologies Inc.

11. ComClark Network and Technology Corp.

Capital Market Development

1. US Agency for International Development (USAID)

2. University of the Philippines Public Administration Research and Extension Services Foundation Inc. Regulatory Reform Support Program for National Development (UPPAF - Respond)

3. Jesus Mariano Ocampo, Managing Director, Investment and Capital Corporation of the Philippines

4. Ryan Martin Tapia, President, Chinabank Capital

5. Hannah Yulo-Luccini, Chief Investment Officer, Double Dragon Corporation

6. Bangko Sentral ng Pilipinas

7. Insurance Commission                                                                                                                      

8. Board of Accountancy

9. Professional Regulation Commission

10. Philippine Deposit Insurance Corporation

11. Association of Certified Public Accountants in Public Practice

12. Auditing and Assurance Standards Council

13. Financial and Sustainability Reporting Standards Council

14. Philippine Interpretations Committee

15. Institute of Chartered Accountants in England and Wales

16. Capital Markets Integrity Corporation

17. Philippine Stock Exchange Inc.

Sustainability and Good Corporate Governance

1. UNCTAD-Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting

2. Cambridge IFA

3. Consumer Lending Association of the Philippines

4. Philippine Finance Association

5. Asian Development Bank

6. Global Reporting Initiative

7. Philippine Sustainability Reporting Committee

8. Citibank Philippines

9. Microfinance Council of the Philippines Inc.

10. United Nations Development Programme

11. Bonar Laureto

12. Ricardo Maulion

13. Shinji Timothy Caday

14. Sycip Gorres Velayo & Co. (SGV)

15. Append Inc.

Investor Education and Protection

1. Department of Migrant Workers

2. Department of the Interior and Local Government

3. Maya

4. Empower and Transform, OPC

5. BDO Foundation Inc.

6. G-Xchange Inc.

7. Salve Duplito

8. Philippine Institute of Certified Public Accountants, Zambasulta Chapter

9. Franchesco Checchi

10. Peter Ong, Senior Deputy State Prosecutor, Department of Justice                                                     

11. Ferdinand Muyargas, Branch Manager, BDO

12. Oscar Enrico Reyes Jr. President and CEO, G-Xchange, Inc.

13. Ingrid Rose Ann Beroña, Chief Risk Officer, G-Xchange, Inc.

14. Philippine Institute of Certified Public Accountants

Organizational Development

1. Rosalia De Leon, Monetary Board Member, Bangko Sentral ng Pilipinas

2. Department of Budget and Management

3. Luis Ramos

4. Jose Paolo Mungcal

5. Commission on Audit

6. Government Association of Certified Public Accountants Inc.

7. Association of Government Internal Auditors Inc.

8. Government Financial Management Innovators Circle Inc.

9. Land Bank of the Philippines

10. Bureau of the Treasury

11. Polytechnic University of the Philippines

12. University of the East

13. De La Salle University – Lipa