SEC chief fires back at PSE directors over term-limit challenge

SEC chair Francis Lim — Photo from ACCRALaw website

MANILA, Philippines — The Securities and Exchange Commission (SEC) stands firm on term limits for broker-directors of the PSE, saying the move will strengthen governance despite a court challenge by two longtime directors.

On Friday, SEC Chair Francis Lim said the regulator will defend the policy after PSE directors Eddie T. Gobing and Ma. Vivian Yuchengco asked the Court of Appeals to void SEC Memorandum Circular No. 17, series of 2026.

READ: Veteran PSE directors take SEC term rule to court

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SEC chief fires back at PSE directors over term-limit challenge

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