SEC Chief Aquino to push for ease in doing business

MANILA -- New Securities and Exchange Commission Chairperson Emilio Aquino said Thursday he would prioritize cutting red tape and promoting inclusive growth.

Aquino, who has a 7-year term, said "system problems" remained at the SEC's online business registration, even as the newly signed Ease of Doing Business Act mandates that transactions be completed faster.

"Definitely, we need to address that soonest. To me, that is a priority," Aquino told ANC's Market Edge with Cathy Yang.

"We have to address the present priorities of the administration for ease of doing business and inclusive growth," he said.

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Aquino said the SEC was "looking at" regulations for virtual currencies and the exchanges where these are traded.

"We would like that technology to flourish, but at the same time, we are just a bit concerned about investor protection," he said.

Asked about the SEC's revocation of news website Rappler's business papers, Aquino said an appeal was pending before the courts.

"We have to abide by the appellate court's ruling," he said.