Commissioner Kelvin Lee “If it sounds too good to be true, it probably is too good to be true.” Commissioner
Commissioner Kelvin Lee of the Securities and Exchange Commission Lee strongly warns the general public to be very wary of financial offers, whether through online apps or offline transactions, that make unbelievable promises and have incredibly easy requirements and terms. “The general idea is, if an app makes glowing promises about benefits that seem too good to be true, then it probably is too good to be true,” he said at a recent media huddle.
Concurrently sitting as Supervising Commissioner of the Markets and Securities Regulation Department and as head of the Information & Communications Technology Department, Lee is one of the champions of financial technology or fintech in the country, spearheading groundbreaking initiatives here and abroad.
Lee played a pivotal role in the establishment of the SEC’s PhiliFintech Innovation Office in 2021. This office, working under the Commission En Banc’s guidance, focuses on fintech regulation and policy recommendations, positioning the Philippines as a frontrunner in embracing technological advancements while prioritizing investor protection.
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