The Securities and Exchange Commission (SEC) is pushing for the creation of an “umbrella mutual fund” to make investing easier and help grow the country’s capital markets.
SEC chairman Francis E. Lim said the current setup—one mutual fund per company—limits market growth. Under the proposed system, a single fund entity could offer multiple sub-funds with different investment types, allowing investors to move their money more easily.
Lim said the mutual fund industry plays a key role in the market, and expanding participation from both institutional and retail investors could help boost its size.
At the same time, the SEC is considering stricter rules for online lenders, including higher capital requirements instead of banning them outright. The goal is to filter out abusive or irresponsible lenders, which are often smaller firms.
The SEC has received complaints that some online lenders approve loans too quickly without proper checks and use aggressive or harmful collection practices.
Under the draft rules:
• Financing companies without online platforms must have at least ₱20 million capital, while lending companies need ₱10 million.
• Firms with online platforms must meet higher capital requirements, depending on how many platforms they operate.
• Companies will also be limited to a maximum of 10 online lending platforms to reduce risk and improve oversight.
The proposed reforms aim to make investing more accessible while ensuring safer lending practices.
