New SEC Chief Francis Lim Pledges Reforms to Strengthen Philippine Capital Market

Francis Lim, the newly appointed chairman and CEO of the Securities and Exchange Commission (SEC), has vowed to implement key reforms to revitalize the Philippine capital market, which he acknowledged is lagging behind its regional peers.

Lim, who succeeds Emilio Aquino following his seven-year tenure, cited findings from the OECD’s 2024 report that pointed to the Philippines having the fewest listed companies in the region and one of the lowest market capitalizations relative to GDP.

“The Philippine capital market has been lagging behind,” Lim said during the leadership turnover ceremony. “We must make it more accessible and proactive.”

Lim’s strategy includes working closely with the Philippine Stock Exchange (PSE), Philippine Dealing and Exchange Corp. (PDEx), NGOs, and government bodies to push for meaningful reforms.

Top on his agenda is the urgent resolution of pending applications and simplifying regulatory requirements. “Every requirement must be justified—no more piecemeal requests,” he said.

Lim also emphasized the importance of financial literacy. He plans to integrate investor education into high school and college curricula to equip future generations with the knowledge to navigate the stock and bond markets.

He also proposed creating small advisory groups made up of market leaders to recommend practical reforms and rule amendments to boost efficiency and investor confidence.