SUBIC FREEPORT — The Securities and Exchange Commission formally signed an agreement with the Subic Bay Metropolitan Authority to reaffirm its commitment to educate and protect the investing public against unauthorized investment schemes and promote financial literacy through investor education.
SEC commissioner Karlo S. Bello signed the memorandum of agreement with SBMA chairman and administrator Eduardo Jose L. Aliño on Feb. 27 at the SBMA Administration Building here.
The agreement named SEC Communication, Advocacy and Network (SEC-CAN!) as a channel for the SEC and SBMA to collaborate on information, education and communication initiatives aimed at raising awareness on business and capital markets, financial literacy, smart and sustainable investing, company registration process and reportorial requirements.
It shall also undertake activities relative to the implementation of the SEC Anti-Scam and Illegal Taking of Investments Group (SEC-ASTIG) which is focused on raising awareness of and educating the general public on investment scams and other fraudulent schemes.
“Our partnership represents more than just a contract, it embodies our shared vision, values, and commitment to excellence. Through this agreement, we are forging stronger bonds, fostering innovation, and paving the way toward sustainable and inclusive economic growth in the Subic Bay Freeport Zone,” Bello said.
For his part, Aliño expressed profound gratitude for this collaboration that, he said, will boost economic activities and development in Subic Bay. It will also protect the locators, stakeholders and the whole freeport zone community against illegal investment-taking activities and other predatory practices carried out through the misuse of the corporate vehicle, he added.
Under the agreement, the SEC and SBMA will work together to design and develop financial literacy programs and investment scam awareness activities, allowing the stakeholders of Subic Bay to gain knowledge on financial and debt management.
Also present during the signing ceremony were SEC Tarlac Extension Office director Richard R. Laus, SBMA deputy administrator for business group John V. Aquino and SBMA business and investment department for ICT officer-in-charge Panfilo S. Jurilla. Press release
