SEC chair urges finance leaders to uphold market integrity

Securities and Exchange Commission (SEC) Chairperson Francis Lim on Friday urged finance executives of local firms to help strengthen the country’s market integrity by ensuring strict adherence to governance standards in all transactions.

Speaking at the 8th general membership meeting of the Financial Executives Institute of the Philippines (FINEX) in Makati City, Lim said integrity remains “the invisible currency” of markets, underwriting every investment and decision.

“When we uphold it, resources flow to their best uses and investors come in. When we lose it, trust collapses—taking with it market strength, economic vitality, and faith in our institutions,” he warned.

Lim noted that other capital markets have outpaced the Philippines due to lingering concerns over integrity, stressing the need for more companies to list with the Philippine Stock Exchange, for governance standards to be met in every deal, and for stronger investor protection.

“The data is a mirror of the development gap we must confront,” he said. “But within this gap lies our greatest potential. The time to act is now.”

The SEC chief cited recent reforms, including a 50% cut in document fees, implementation of the “deemed approved” rule to curb red tape, expansion of the OneSEC online registration system from 30 to 83 company categories, and incentives for small businesses to join the formal economy.

“These are signals that ethical leadership must be built into the very architecture of our markets,” Lim said, adding that integrity “cannot be legislated into existence—it must be lived.”