Capital market participants are allowed to continue operations by implementing a skeleton workforce in their respective offices during the strict lockdown in Metro manila and nearby provinces.
“The Securities and Exchange Commission (SEC) assured the investing public and corporate sector that the domestic capital market will remain open during the enhanced community quarantine (ECQ),” the corporate regulator said in a statement on Friday.
The SEC said its main office in Pasay City will also continue operations with a skeleton workforce from 9 a.m. to 3 p.m. during the period.
However, it encourages the public to transact business online.
Under the new quarantine restrictions, only “Authorized Persons Outside their Residences” or APOR are allowed to go into and out of the NCR Plus bubble. Capital market participants qualify for the so-called APOR status.
Individuals with the APOR status may present Inter-agency Task Force IDs issued by regulatory agencies with jurisdiction of establishments or persons, valid IDs or other documents issued by accrediting organizations or establishments allowed under the ECQ, and local IDs should local government units require them.
The SEC released a list of registered institutions to assist in continuing operations of market participants amid the hard lockdown. The list may be saved and/or printed for use of concerned employees.
“The said listing may be used as [a] reference by employees, together with their office ID, to support their claim of employment in a capital market institution and qualify as an APOR,” the SEC said.
The list includes the following: the Philippine Stock Exchange, Inc., Securities Clearing Corporation of the Philippines, the Philippine Dealing and Exchange Corp., the Philippine Securities Settlement Corp., and the Philippine Depository and Trust Corp.
It also covers 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 of securities, transfer agents, registrars of qualified buyers, and mutual fund companies.
Real estate investment trust (REIT) fund managers, REIT property managers, crowdfunding intermediaries, ATS operators, and transfer agents are also part of the SEC’s list of registered institutions. — Keren Concepcion G. Valmonte