Philippines business groups back new SEC head on market development

The appointment of lawyer Francisco Edralin Lim as the new chairperson of the Philippine Securities and Exchange Commission (SEC) has received broad support from the country’s business community, which urged him to advance capital market reforms. Lim, a former president and CEO of the Philippine Stock Exchange (PSE), succeeds Emilio B. Aquino, who steps down on June 6. Business leaders, including the Philippine Chamber of Commerce and Industry and FINEX, called on Lim to promote SME listings, improve regulatory processes, and strengthen investor protection. Lim is expected to lead initiatives aimed at expanding the country’s capital markets, which remain smaller compared to regional peers. He is a senior partner at ACCRA Law and has held leadership roles in key financial associations.