Securities and Exchange Commission chair Francis Ed. Lim hailed the late former prime minister Cesar Virata as an architect of the modern Philippine capital market whose legacy remains embedded in its most important institutions.
Faster approvals and lower costs directly affect how quickly companies can incorporate, amend records, and raise capital. The SEC’s reforms are designed to remove delays that historically discouraged investment, while reinforcing enforcement to protect market integrity.
The Securities and Exchange Commission has issued a new policy imposing strict deadlines on the processing of business applications, with a “deemed approved” mechanism that automatically grants unacted requests once deadlines lapse — a significant shift intended to reinforce ease of doing business in the country.