No disruption to capital markets amid ECQ, SEC says
It will be business as usual for the country’s capital markets despite the reimposition of enhanced community quarantine (ECQ) on Metro Manila and other key regions starting Aug. 6 through Aug. 20.
In a press statement on Friday, the Securities and Exchange Commission (SEC) assured the investing public and corporate sector that the domestic capital market will remain open.
The SEC reiterated that capital market institutions and participants may deploy an on-site skeleton workforce while the National Capital Region and other areas go through another round of ECQ.
The skeleton workforce of capital market participants are accordingly considered authorized persons outside of residence, and therefore exempted from the travel restrictions under the guidelines on the implementation of community quarantine in the Philippines, as amended.
To help ensure that the skeleton workforce of capital market participants could travel and report on-site during the ECQ, the SEC issued an official list of capital market institutions and participants. The list includes the Philippine Stock Exchange, Inc., Securities Clearing Corporation of the Philippines, Capital Market Integrity Corp., Philippine Dealing and Exchange Corp., Philippine Securities Settlement Corp. and Philippine Depository and Trust Corp.
The SEC also identified investment houses, investment houses engaged in dealing government securities, underwriters of securities engaged in dealing government securities, eligible dealers in government securities, investment company advisers, mutual fund distributors, brokers/dealers in securities, transfer agents, registrars of qualified buyers and mutual fund companies. The SEC main office within the PICC Complex in Pasay City, meanwhile, will continue to operate with a skeleton workforce, from 9AM to 3 PM, during the ECQ.
The public, however, is advised to transact business online.
