Who is Francis Lim, the new chair of the Securities and Exchange Commission?

President Ferdinand Marcos Jr. recently appointed Francis Edralin Lim, an expert in corporate law and litigation, as the new chairman of the Securities and Exchange Commission (SEC). Lim will succeed Emilio Aquino, whose term ends on June 5.

In response to his appointment, Lim expressed his gratitude for the trust placed in him by President Marcos Jr. and his team. He acknowledged the responsibility that comes with the position and pledged to uphold integrity and serve the country diligently. The SEC, being the regulatory body for corporations in the Philippines, assigns a seven-year term to its chairman.

Lim, currently serving as a senior legal counsel at ACCRALAW, a prominent Philippine law firm established in 1972, has a wealth of experience in the field. He notably represented Rappler in the case brought forth by the SEC during the Duterte administration, which resulted in the Court of Appeals ruling against the shutdown of Rappler.

During the Duterte era, the SEC revoked Rappler’s incorporation papers due to alleged violations of the Constitution. Lim also defended Rappler in various tax cases, culminating in the Court of Tax Appeals acquitting its CEO, Maria Ressa, and Rappler Holdings Corporation of tax violations.

Specializing in securities and capital markets, bankruptcy, anti-trust, and trade regulation, Lim is known for providing corporate and strategic advice to his clients. His impressive track record includes handling major transactions for companies like Ayala Corporation, BDO Unibank, and Lucio Tan Group of Companies.

Lim boasts a Bachelor of Laws degree with Second Honors from Ateneo de Manila University and was admitted to the Philippine Bar in 1981. He furthered his education with a Master of Laws from the University of Pennsylvania in 1987. An alumnus of the University of Sto. Tomas, Lim holds Bachelor of Arts (cum laude) and Bachelor of Philosophy (magna cum laude) degrees.

As a law professor at Ateneo Law School and San Beda College, Lim imparts knowledge in Securities Regulation, International Business Transactions, Arbitration, Evidence, and Partnership. His membership in the Integrated Bar of the Philippines underscores his commitment to legal practice and upholding the rule of law.