Lawyer Francis Ed. Lim has stepped down from the boards of several publicly listed companies following his appointment as chairman of the Securities and Exchange Commission (SEC), the primary regulatory body overseeing the corporate sector and capital markets.
Lim resigned as a non-executive director of Converge Information and Communications Technology Solutions Inc., as an independent director and member of board committees of Union Bank of the Philippines, and as an independent director of First Philippine Holdings Corp.
Malacañang announced Lim’s appointment on June 3, naming him as the successor to outgoing SEC Chairman Emilio Aquino, whose seven-year term ended on June 6. Lim officially assumes leadership of the SEC at a time when regulatory oversight and investor confidence are critical to sustaining market growth and corporate accountability.
A seasoned figure in both legal and financial circles, Lim previously served as president and chief executive officer of the Philippine Stock Exchange from 2004 to 2010. He is also a senior partner at the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW), one of the country’s most prominent law firms.
His resignation from board positions is required by law and aligns with the SEC’s mandate to ensure transparency and good governance in Philippine capital markets.
