PRESIDENT Ferdinand “Bongbong” Marcos Jr. has selected a UST philosophy graduate as the new chairperson of the Securities and Exchange Commission (SEC), the government agency supervising the corporate sector.
Francisco Lim, a former president of the Philippine Stock Exchange, was announced as the new SEC chief by Executive Secretary Lucas Bersamin in a June 3 press briefing.
He replaced Emilio Aquino, whose seven-year term ends June 6.
As SEC chairperson, Lim is expected to “strengthen investor confidence and further promote transparency, innovation, and inclusive growth in the Philippine financial sector.”
Lim steps into the role with experience as a senior legal counsel at Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).
Lim specializes in corporate law and litigation. He led the team that handled cases on capital market-related transactions and several high-profile cases in the country.
He served as president and chief executive officer of the Philippine Stock Exchange from 2004 to 2010.
Lim took up law at Ateneo de Manila University in 1981 before completing his master of laws at the University of Pennsylvania in 1987.
He is a member of various international bar associations, including the American Bar Association, the New York State Bar Association, and the Asian Business Law Institute.
Lim teaches law at Ateneo Law School and San Beda College Graduate School of Law and is a professional lecturer at the Philippine Judicial Academy, where he concurrently serves as vice chair of its commercial law department.
The SEC was established in 1936 to “regulate the sale and registration of securities, exchanges, brokers, dealers and salesmen.”
