Special Assistant to the President for Investment and Economic Affairs Frederick Go acknowledge the Securities and Exchange Commission for its “excellent” response in implementing capital market reforms.
“On the investments and economic level, this is what my office for investment and economic affairs is all about – actualizing the whole-of-government approach to integrate and implement the President’s priority programs and economic agenda,” he said. The SEC issued Memorandum Circular Nos. 7 and 8, Series of 2024, which provide for the removal of the minimum commission charged by Philippine Stock Exchange stockbrokers and the guidelines for cornerstone investors in initial public offerings, respectively.The SEC also shortened the settlement cycle to T+2 from T+3, effectively allowing investors to receive proceeds from securities trades within two days instead of three, while also reducing risk exposure for trading participants by one day.
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