No decision yet on new SEC chief

PRESIDENT Ferdinand R. Marcos, Jr., has not yet decided whether he would replace or extend the term of the Securities and Exchange Commission (SEC) chairman as his term ends on June 6, the Presidential Communications Office (PCO) said on Wednesday.

Palace Press officer Clarissa A. Castro, in a news briefing at the Palace, also belied a shortlist of five legal luminaries who may replace SEC Chairman Emilio B. Aquino.

“At this moment, we have not received any information about that. We will give you any updates if there are any,” she said.

She also did not provide a timeline for when Mr. Marcos would name the new chief of the country’s top corporate regulator.

The five people, earlier reported by the Philippine Star, who are in the running towards the SEC leadership are government corporate counsel Solomon M. Hermosura, SEC commissioner Rogelio V. Quevedo, former Government-Owned and/or Controlled Corporation (GOCC) chairman Cesar L. Villanueva, Romulo Mabanta counsel Susana C. Fong, and Philippine Stock Exchange Chief Operations Officer Roel A. Refran.

The Securities Regulation Code provides that a lawyer should serve as the SEC chairperson.

Mr. Aquino was appointed a commissioner by former President Rodrigo R. Duterte in 2016 and was elevated to chairman in 2018. — Chloe Mari A. Hufana