SEC partners with the UP Law Center to foster capital market development

The Securities and Exchange Commission (SEC) has teamed up with the University of the Philippines (UP) Law Center in generating more research projects to help foster capital market development in the country.

In a ceremony held on March 18, the SEC and the UP Law Center signed a memorandum of understanding (MOU) to explore opportunities for cooperation in research projects, capacity building and policy analysis, and resource and information sharing relevant to the capital markets.

Under the MOU, the UP Law Center shall provide the SEC with technical assistance for the preparation of legal and regulatory frameworks for financial market development, with initial emphasis on capital markets, yield curves, and other innovative regulatory frameworks.

For its part, the SEC will provide the university with informational resources for its activities related to issues surrounding capital market and financial market development.

“Through this MOU, the goal is to have exchanges of ideas from industry leaders and experts from the [UP Law Center], to develop further and strengthen the important role of the financial and capital market development in the country that will eventually provide businesses with the funds they need to invest, grow, and create jobs and, at the same time, also allow investors to earn a return on their investment,” SEC Commissioner Karlo S. Bello said in his closing remarks during the signing ceremony at the SEC Headquarters in Makati.

Meanwhile, UP College of Law Associate Dean Solomon F. Lumba highlighted the role of the SEC in ensuring that the Philippines can follow in the footsteps of countries that have transformed themselves into economic superpowers.

“[This] is why we are here today— to sign a Memorandum of Understanding formalize the partnership of the SEC and the UP Law Center to make this dream a reality and take the Filipino people to a far brighter tomorrow,” Mr. Lumba said.

The SEC has also previously partnered with the UP Law Center in improving the formulation of policies that could address financial technology regulation in the country.

The partnership gives the SEC and UP Law Center capacity building opportunities for the creation of a legal and regulatory framework that can address issues surrounding cryptocurrencies and other fintech products.

Also, see: SEC Press Release Reference No. 2024-33 dated 16 April 2024