SEC Chair Francis Lim Eyes Lower Fees to Support MSMEs

New Securities and Exchange Commission (SEC) Chairperson and CEO Francis Lim is considering lowering registration and transaction fees for micro, small, and medium enterprises (MSMEs) to encourage more business activity and ease the financial burden on entrepreneurs.

“We will explore reasonable fee reductions, especially for MSMEs. Regulation should empower, not hinder,” Lim said during his speech at the SEC leadership turnover ceremony in Makati City on Tuesday.

Lim shared a personal experience, saying he once had to pay over ₱2,000 just to obtain a certified true copy of a company’s Articles of Incorporation. “These are the things we need to change to show that doing business with the SEC is straightforward,” he added.

Currently, SEC registration filing fees are calculated at 1% of either the authorized capital stock or the subscription price of the subscribed capital stock—whichever is higher—but not less than ₱2,000. A legal research fee equivalent to 1% of the filing fee (minimum ₱10) is also charged.

Lim takes over from Emilio Aquino, whose term concluded last week after seven years at the helm.