companies and for securities companies, and can take enforcement actions against their directors and other officers. These changes have been supported by new regulations which further clarify and expand their
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appointments are staggered and made independent from the political calendar, they can further enhance independence. These bodies should be able to pursue their functions without conflicts of G20/OECD PRINCIPLES
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Exchange Commission the power to issue and revoke securities business licenses as well as the power to approve additional types of securities businesses and specify paid-up registered capital thereof. These
these events, the economy has remained resilient overall. GDP growth continued at 6.1 percent with inflation remained low at 2.8 percent. The capital market though affected by uncertainties, performed
financial instruments, risk management tools to support capital market development for business sectors, and greater investment alternatives for the public. These efforts have been driven concurrently with
monitor, control, and manage risks to ensure that these risks can be handled; (3) sufficient funding, appropriate systems and rules for membership and supervision of members to ensure efficient securities
and direction so that the market can function with greater accuracy. It also enables business operators or investors in the existing market to adjust to the changing environment thus improving market
of interest. Under these guidelines, it is advised that the Board members should not be appointed as members of more than four sub- committees or steering groups to ensure efficiency of duty