SEC starts accrediting capital market employees
Iris Gonzales (The Philippine Star) - March 27, 2020 - 12:00am

MANILA, Philippines — The Securities and Exchange Commission has started accrediting employees for the capital markets industry in light of the coronavirus pandemic or COVID-19.

In a notice dated March 22, the SEC laid out the guidelines for the issuance of IDs for capital market participants.

The IDs will be used by those will comprise the skeleton staff of capital market institutions while the Luzon-wide enhanced quarantine is in place.

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

Last March 17, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) allowed the Philippine Stock Exchange (PSE) and the Philippine Dealing System (PDS) Group to resume their operations effective March 18.

A capital market participant who wants to apply for accreditation IDs or certifications must submit a letter request addressed to SEC chairperson Emilio Aquino.

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

As part of the requirements, applications must 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 shall be signed by the president and authorized responsible officer of the trading participant.

During the quarantine period, accredited employees must always bring his or her SEC-issued certification; company ID, certificate of employment, and a copy of IATF Resolution No. 13, Series of 2020, for presentation to law enforcement agencies, the SEC said.

SEC said the IDs shall be used only for capital market-related work.

“Any abuse in the use of this certification shall be dealt with accordingly, including the revocation of the certification,” the SEC said in its notice.

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