CEBU CITY, Philippines—In accordance with the government’s response to the coronavirus 2019 pandemic, the Securities and Exchange Commission (SEC) has transferred P2 billion from its accounts to
According to an emailed press release from SEC, the move aims to augment the government’s war chest in tackling COVID-19.
The SEC made the contribution in accordance with Section 4 of Republic Act No. 11469, otherwise known as the Bayanihan to Heal as One Act, and the directive of the Department of Finance. “The SEC has moved into position for the country’s fight against COVID-19. Aside from supporting other government agencies on the frontlines, we have worked on buttressing the corporate sector, capital market and investing public, which are crucial in the resilience of our economy and, more importantly, of the Filipino people,” Aquino pointed out.
The commission has also sustained the delivery of services to its stakeholders, including enforcement efforts against unscrupulous members of the corporate sector. It has recently identified 14 groups engaged in unauthorized investment schemes.
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