The Monday Circle forum last Monday, July 13 turned out to be not only an interesting but enriching session with the man who may just be able to reinforce investors’ confidence and fix our “lagging” capital market. That man is no other than Securities and Exchange Commission (SEC) Chairman Francis Ed. Lim.
Having assumed office only in June 2025, Lim may have already accomplished what the agency could have done in the last 20 years for the promotion and development of the capital market. Like most of the Monday Circle’s membership, he was one of them long before being appointed as SEC chair. He served as the president and chief executive officer (CEO) of the Philippine Stock Exchange (PSE) from 2004 to 2010.
During his six-year tenure in the PSE, he helped lead critical capital market policy reforms and launched key corporate governance initiatives. This included the legislation and introduction of the Real Estate Investment Trusts (REITs) to the Philippines. He also aided in the enactment of the Personal Equity and Retirement Account (PERA) Act to drive voluntary retirement savings and capital deployment.
Under his leadership, he likewise spearheaded in the PSE the launching of the Maharlika Board good governance platform to incentivize listed companies to match regional, world-class transparency standards. It was a visionary initiative to boost market valuations through strict corporate governance. Unfortunately, it was eventually stymied. According to some claims, it was stifled by resistance from listed conglomerates and internal politics on the PSE board.
