Newly-appointed Securities and Exchange Commission (SEC) Chairman Francis Lim plans to require profitable government-owned and -controlled corporations
Newly-appointed Securities and Exchange Commission Chairman Francis Lim plans to require profitable government-owned and -controlled corporations to conduct initial public offerings as part of efforts to deepen the Philippine capital markets.
“We are truly grateful to Director Francis for his steadfast guidance to the organization in the past five years. His wealth of experience in commercial and corporate law served us well in strengthening our organizational structure and putting in place the necessary guard rails for good governance, particularly during our early days as a publicly-listed company,” de Jesus said.
Lim said that while laws requiring firms receiving incentives to go public are already in place, these are not fully implemented. He also vowed to continue reforms aimed at streamlining SEC processes, supporting small businesses and boosting financial literacy across educational institutions.
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