SEC starts accreditation of capital markets workforce

March 29, 2020

The Securities and Exchange Commission has started accrediting employees who would  comprise the skeletal staff of capital market institutions and participants during the coronavirus disease 2019 pandemic.

In a notice dated March 22, the Commission issued the guidelines for the issuance of accreditation identification cards or the equivalent certifications for capital market participants, as required under Section A.2 of Resolution No. 13, Series of 2020, of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases.

The SEC has received applications from at least 491 employees of capital market institutions and participants thus far.

The IATF on March 17 allowed the Philippine Stock Exchange and the Philippine Dealing System (PDS) Group to resume their operations effective March 18. 

The fixed-income trading platform and the spot foreign exchange market under the PDS Group reopened on March 18, while the stock market resumed its operations on March 19.

To request for accreditation IDs or certifications, a capital market participant must submit a letter request addressed to SEC Chairperson Emilio Aquino through email at msrd_covid19@sec.gov.ph.

The request must be accompanied by a certified list of employees who shall comprise the skeletal staff, with further representation that they have been provided certificates of employment or engagement specifying their home and office addresses. 

The requesting company must also issue a certification that it has adopted the pertinent policy, procedures and measures on social distancing, and made the necessary arrangements for the transportation of its employees, among others. 

The certification must be signed by the president and/or any authorized responsible officer.

Accredited employees must always bring his or her SEC-issued certification; company ID, certificate of employment, and a copy of IATF Resolution 13, series of 2020, for presentation to law enforcement agencies.