The Securities and Exchange Commission (SEC) is poised to implement new guidelines aimed at bolstering the capital markets while enhancing investor protection. The proposed amendments and draft rules, released for public comment before the end of 2024, cover various key areas including the regulation of qualified institutional buyers, crypto-asset service providers, green equity, and Sukuk bonds.
Among the notable proposals is a revision to the Rules Governing Registrars of Qualified Buyers. The amendments seek to reinforce the SEC’s authority in ensuring registrars maintain compliance with market regulations by setting clearer requirements for the initiation and cessation of a qualified buyer’s status.
The draft guidelines for crypto-asset service providers are designed to strengthen the SEC’s oversight of the rapidly growing crypto market, offering protections against consumer risks and systemic threats. The rules also aim to provide a legal framework for licensed and authorized crypto-asset intermediaries. Interested parties have until January 18, 2024, to submit comments on these rules.
Meanwhile, the SEC’s Philippine Green Equity guidelines aim to highlight companies driving green initiatives, fostering a market for sustainable investment products aligned with the country’s environmental goals. The deadline for feedback on these guidelines is 25 January 2024.
In addition, proposed amendments to the Securities Regulation Code include defining “seasoned issuers” and extending shelf registration periods for these companies, enabling them to offer additional securities beyond the standard three-year period.
Lastly, the SEC has released guidelines for Sukuk bonds, aligning with the government’s push to develop Islamic finance in the country. These guidelines aim to open the door for Philippine issuers to tap into the global Sukuk market, further diversifying fundraising avenues.
The SEC’s efforts reflect a broader commitment to improving market transparency and investor confidence while expanding investment opportunities across various sectors.
