President Ferdinand R. Marcos Jr. has appointed Atty. Francis Edralin Lim as the new chairperson of the Securities and Exchange Commission (SEC), Executive Secretary Lucas P. Bersamin announced during a Malacañang briefing on Tuesday.

Lim will take over from incumbent SEC Chairman Emilio Aquino, whose seven-year term will expire on June 6.

As the new SEC head, Lim’s “leadership is expected to strengthen investor confidence and further promote transparency, innovation, and inclusive growth in the Philippine financial sector,” said Bersamin.

Bersamin acknowledged Lim as a distinguished member of the legal and financial communities who has an extensive background in corporate and securities law.

Lim served as president and chief executive officer of the Philippine Stock Exchange (PSE) from 2004 to 2010 and is a senior partner at the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW), a leading law firm in the country.

Lim is also a former trustee and president of the Shareholders Association of the Philippines (SharePHIL).

“He (Lim) has contributed significantly to investor protection and market transparency through both his professional work and his academic involvement,” said Bersamin.

“He brings to this office decades of experience in corporate law, governance, and capital market regulation,” Bersamin added.

The SEC is the national regulatory agency tasked with supervising the corporate sector, capital market participants, and securities and investment instruments market, as well as protecting the interests of the investing public. | PND