SEC: Sustainability Champion
The Securities and Exchange Commission (SEC) is the Philippines’ national government regulatory agency mandated to supervise and enable the country’s corporate sector and capital market.
As such, the SEC Philippines is at the forefront of promoting good governance toward the competitiveness and sustainability of the business sector, the broad participation and effective protection of the investing public, and the overall development of one of Asia’s fastest growing economies.
The SEC Philippines currently supervises more than 600,000 active corporations and other forms associations across the country. As the corporate sector continues to expand, and given the evolving nature of transactions where the corporate vehicle is being used to defraud the investing public, and the ever dynamic character of the capital market, the SEC Philippines must progressively perform its critical role as the prudent registrar and supervisor of the corporate sector and the independent guardian of the capital market.
To advance corporate governance reforms, the SEC Philippines pushes for the adoption of corporate governance codes, sustainability reporting guidelines, and such other rules. In parallel, it conducts forums and dialogues with stakeholders to discuss the most pressing and prevalent corporate governance issues within and outside the country.
The SEC Philippines also implements secure and efficient company registration and monitoring systems, and spearheads the country’s Protecting Minority Investors Task Force to ensure ease of doing business, as well as transparency and accountability among corporations.
Moreover, the SEC Philippines actively participates in global development initiatives as a member of the International Organization of Securities Commissions, ASEAN Capital Markets Forum (ACMF), the Global Financial Innovation Network, and the International Forum of Independent Audit Regulators, among others. At present, it acts as the chairperson and secretariat of the ACMF Working Group-D on the ASEAN Corporate Governance Scorecard initiative.
The SEC Philippines is recognized both locally and globally for its sustainability and good governance efforts.
This October, the SEC Philippines was hailed as one of the Circle of Excellence Awardees for the Best Sustainability Company of the Year in the 12th Asia CEO Awards.
The 12th Asia CEO Awards promotes the Philippines as a premier business destination for global enterprises by awarding companies and executives in the country who have excelled in various sectors. With the theme “Recover, Reset, Reignite”, it once again accorded prestigious recognitions to various players in the industry, with esteemed judges from different industries and the government sector.
For its efforts on good governance, the SEC Philippines received the 3G Advocacy and Commitment to Corporate Governance Award from London-based organization Cambridge IFA.
The 3G Awards are part of a premier recognition program that highlights excellence in good governance and commitment to social welfare in 3 major streams: Government & Politics, Corporate Sector, and Social Sector & Philanthropy. The Commission received the award in an Online Awards Ceremony on May 25, 2021 .
In 2019, the SEC Philippines was also the recipient of the ISAR Honours Award for the Philippines from the United Nations Conference on Trade and Development in Geneva, Switzerland. The ISAR, or the International Standards of Accounting and Reporting, recognized the Commission’s adoption of the Sustainability Reporting Guidelines, which created awareness among companies on the business case for sustainability reporting in the Philippines.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to [email protected].
Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here