SEC chief seeks industry support to bolster capital markets

MANILA, Philippines — Securities and Exchange Commission (SEC) chairperson Francis Lim is seeking the support of the country’s top finance executives to help boost the Philippine capital markets.

Speaking at the Financial Executives Institute of the Philippines (FINEX) 8th general membership meeting, Lim said that a vibrant capital market fuels infrastructure, empowers small businesses, drives innovation and transforms growth into shared prosperity.

Unfortunately, he said the country’s capital markets have fallen behind.

“For example, Vietnam, whose stock market is much younger than ours, has outranked us in terms of the number of listed companies, market capitalization and stock market value turnover. Of course, Singapore, a much smaller country but whose capital market is known for its integrity, is far ahead of us,” Lim said.

“The data is not just statistics — they are a mirror of the development gap we must confront. It underscores how far we have to go. Every percentage point behind is a missed opportunity for our companies, our investors, our people and our nation,” he said.

Lim said that finance leaders — considered as trusted voices in boardrooms, banks, investment houses, accountants and appraisers — can serve as catalysts for change.

“This is where we in the SEC need your help,” he told members of FINEX.

“I invite you to take the next great step with us — to help grow our capital market back to its rightful place in the ASEAN, anchored firmly on trust and transparency,” the SEC chair said.

Lim, a former president of FINEX, said finance leaders are needed to encourage more companies to list, uphold governance standards in every transaction, ensure the integrity of companies’ financial statements and champion investor protection.

“Your leadership — anchored on ethics — is what will bridge the gap between where our market is and where it should be,” Lim said.

“The SEC cannot do it without you. With your influence, networks and steadfast commitment to ethical leadership, we can create markets that our investors trust, our companies depend on and our nation can be proud of,” he said.

Under his term, Lim has set his sights on further boosting the Philippine capital markets.

The SEC has committed to streamline its procedures, reduce costs and promote transparency and good governance in the corporate sector and capital market.