SEC streamlines process for securities lending deals

THE Securities and Exchange Commission (SEC) has revised the approval process for securities lending agreements, reducing processing time and compliance costs in a move aimed at supporting market development. The commission said it had cleared revised guidelines that designate the Philippine Stock Exchange (PSE) as the sole reviewing and pre-clearing body for Master Securities Lending Agreements (MSLAs) and accession agreements under multilateral MSLAs. The change eliminates the need for SEC pre