President Ferdinand R. Marcos Jr. on Tuesday urged the Securities and Exchange Commission (SEC) to eliminate bureaucratic hurdles and streamline its processes to ensure the effective rollout of the newly enacted Capital Markets Efficiency Promotion Act (CMEPA).
Speaking during a special bell-ringing ceremony at the Philippine Stock Exchange Tower in Taguig City, the President expressed optimism that CMEPA will usher in a new chapter of economic growth and investor trust.
“Let every ring—from this morning and every trading day thereafter—echo our strength, our optimism, [and] our shared hope for a more prosperous future for all Filipinos,” Marcos said.
He instructed the SEC to remove red tape, simplify procedures, and lower transaction costs within its jurisdiction. He also directed all relevant government agencies to ensure that Filipinos feel the full benefits of the new law as soon as possible.
“To ensure the successful implementation of this reform, I direct the Securities and Exchange Commission to streamline its procedures, remove bureaucratic bottlenecks, [and] reduce transaction costs within its control. Undertake the necessary changes to fulfill your responsibilities in these changing times,” Marcos added.
The President called on market participants and stakeholders to uphold the principles of transparency, fairness, and good governance, emphasizing that maintaining market integrity is a shared responsibility.
“By working together in good faith, we can build an industry that earns the market’s trust both here and abroad,” he said.
Marcos noted that from now until 2030, the law is expected to generate over ₱25 billion in net revenue, which could help fund infrastructure projects like roads, bridges, hospitals, schools, and social protection programs.
He emphasized that CMEPA will not only benefit major investors and professionals but also empower ordinary Filipinos, including small business owners, young professionals, and overseas workers.
“It empowers the small business owner, the young professional, and the overseas Filipino worker to start investing their hard-earned money to build a better future,” he said. “Indeed, this Act allows Filipinos to be true participants in our nation’s economic growth. This law enhances our competitiveness in the ASEAN region and strengthens the foundations of a capital market that can thrive on the global stage.”
The law, a key initiative championed by the Department of Finance (DOF), aims to bring capital market investments closer to the public by simplifying access and making transactions more affordable—especially for small investors.
Among CMEPA’s key provisions are the reduction of the stock transaction tax (STT) from 0.6 percent to 0.1 percent, with an expanded scope to include other securities traded through the local stock exchange. It also includes the lowering of the documentary stamp tax (DST) on the original issuance of shares from 1 percent to 0.75 percent. These adjustments are expected to reduce transaction costs, boost market liquidity, encourage long-term financial planning, increase market participation, and improve the country’s regional competitiveness in the capital markets.