As the Chairperson of the Securities and Exchange Commission (SEC), Teresita J. Herbosa applies the experience she had gained from more than 30 years of private law practice to execute and administer policies, decisions, orders and resolutions of the SEC. In the Philippines, the SEC implements two major laws, the Corporation Code and the Securities Regulation Code (SRC). Under the Corporation Code, the SEC is the registrar and monitor of all corporations and partnerships, while under the SRC, it is the regulator of securities and capital markets.
Since her appointment in May 2011, Chairperson Herbosa has implemented several significant projects at the SEC including, among others -the automation of public services as well as internal operations of the SEC; the realignment of the functions of the Corporate Governance Division to better promote good corporate governance among publicly listed companies and secondary licensees; the acquisition of a new surveillance system to monitor PSE trades in line with the objective of the SRC to protect investors and eliminate insider trading and other fraudulent practices; and, the adoption of new rules for securities registration and more transparency in financial reporting. She simplified the company registration process by providing business registry numbers in the certificates of incorporation; proposed amendments to the Corporation Code which are pending in Congress; initiated the transfer of the SEC main office to the Bonifacio Global Center; opened three satellite offices in shopping malls to make SEC frontline services more accessible to the public; and, participated in relevant ASEAN initiatives. In 2015, the SEC came out No. 1 among 36 government agencies/private entities surveyed nationwide by SWS on sincerity in the fight against corruption.
Apart from her job at the SEC, by law, Chairperson Herbosa is a member of the Anti-Money Laundering Council (AMLC) and Chairperson of the Credit Information Corporation, a GOCC whose primary purpose is to act as the national aggregator of credit data.
Chairperson Teresita J. Herbosa graduated with the degrees of Bachelor of Arts cum laude and Bachelor of Laws cum laude from the University of the Philippines. She obtained her Master of Comparative Law degree from the University of Michigan Law School in Ann Arbor, Michigan. In 2014, she received the UPAA Distinguished Alumna Award for Public Service.
COMMISSIONER ANTONIETA F. IBE
Commissioner Antonieta Fortuna-Ibe was appointed by President Benigno C. Aquino III on October 1, 2012.
As partner at Sycip, Gorres, Velayo & Co. (SGV & Co.) for 20 years. Ms. Ibe managed and handled assignments for audit clients in various industries, as well as special projects for the Firm. While at SGV, Ms. Ibe also served as Chairman of the Professional Regulatory Board of Accountancy (BOA), and previously as Vice Chairman and Member, for five years. As BOA Chairman, she helped develop the Country Action Plan, now fully implemented, and instituted reforms for local accountancy.
In 2001, she was named Chairperson of the Professional Regulation Commission (PRC), the first-ever female Chairperson to be appointed. She resigned in 2004 to avoid any possible conflict of interest when her daughter took the medical board licensure examinations. As PRC Chair, Ms. Ibe instituted reforms in professional regulation; it was during her term that 11 new/amended professional legislations were enacted, a first in PRC history. She spearheaded the development of the Code of Good Governance for all Professions in the Philippines, jointly with all the 42 Professional Regulatory Boards and the 42 Accredited Professional Organizations, which was signed as Executive Order No. 220 dated June 23, 2003; and the Good Governance Code of Ethical Standards for PRC and employees.
After her resignation from the PRC, Ms. Ibe was Risk Management Partner at KPMG member firm in the Philippines, reporting directly to the Asia Pacific Region on risk management matters. Later, as Chancellor of the University of the East (UE), she was key to introducing reforms in the University's accountancy program and other programs.
Ms. Ibe was a National Secretary and Chairman of Metro Manila Regional Council of the Philippine Institute of Certified Public Accountants (PICPA), and was Secretary General of the ASEAN Federation of Accountants (AFA) and member of the AFA Council. Her recent involvement in accountancy-related activities was assistance in the conceptualization and development of a Quality Assurance Review Program for accounting firms, and the development of the Roadmap of the Philippine accountancy profession.
She was also a consultant of the World Bank; currently, she is a Trustee of the Institute for Solidarity in Asia (ISA) and Vice Chair of UE Alumni Foundation. Immediately prior to her appointment at the SEC, Ms. Ibe was member of the Board of Trustees of the Local Water Utilities Administration for over a year.
She received the following awards and distinctions, among others: PICPA's Accountancy Hall of Fame, Outstanding CPA in Public Practice and Outstanding PICPA Member; one of UE's Most Outstanding Alumni during its 60th. Anniversary; and Fellow for Good Governance and Responsible Citizenship from ISA.
Ms. Ibe is a Certified Public Accountant, and graduated with Bachelor in Business Administration major in Accountancy, magna cum laude from UE. She took up her Advance Management Program from the Asian Institute of Management and her Management Development Program from The European Institute of Business Administration (INSEAD), Fontainebleau, Cedex, France as SGV scholar. She has attended various development executive trainings and seminars on the accounting profession and other discplines.
COMMISSIONER EPHYRO LUIS B. AMATONG
Ephyro Luis B. Amatong was appointed commissioner of the Securities and Exchange Commission (SEC) by President Benigno S. Aquino III on April 23, 2014 and took his oath of office on May 13, 2014.
Before joining the SEC, Mr. Amatong was an Assistant Secretary of the Department of Finance (DOF) where he had an active role in a number of privatization projects, including the privatization of 74 hectares of the Food Terminal, Inc. (P24 billion). He was involved in a number of successfully awarded Public-Private Partnership (PPP) projects such as the construction of 9,300 classrooms under the PPP for School Infrastructure Project Phase I (US$397 million), the NAIA Expressway Project (US$345 million), the Modernization of the Philippine Orthopedic Center (US$126 million), and, most recently, the Automated Fare Collection System of the Department of Transportation and Communication (US$38 million).
Mr. Amatong was the DOF representative to the Inter-Agency Anti-Graft Coordinating Council and was also part of the team that developed and implemented President Aquino`s Reform Program for the Bureau of Customs.
He also served in various capacities in the government, namely as Vice President of the Philippine Deposit Insurance Corporation (2012-2013), Corporate Staff Officer of the National Power Corporation (2010-2012), Acting Chairman of the Local Water Utilities Administration (2011), Corporate Legal Counsel and Assistant Corporate Secretary of PNOC Exploration Corporation (2008-2010), Adviser to then Amb. Hilario G. Davide, Jr. at the Permanent Mission of the Philippines to the United Nations (2007-2008), and Senior Law Clerk to then Justice Conchita Carpio Morales of the Supreme Court of the Philippines (2003-2005).
Before joining the government, Mr. Amatong was an associate with the Villaraza & Angangco Law Offices (2002-2003), where he dealt with high-profile litigation cases.
Mr. Amatong was admitted to the Philippine Bar in 2002 and the New York Bar in 2007. He holds a Master of Laws (LL.M., 2006) degree, with an International Finance concentration, from Harvard Law School, where he was an Ayala scholar and a Eugenio Lopez scholar. He also holds a Bachelor of Laws (LL.B., 2001) degree from the U.P. College of Law, where he was conferred the Dean`s medal for academic excellence, and a Bachelor of Science in Business Economics (B.S.B.E., 1997) degree, cum laude, from the U.P. School of Economics. He was a member of the Order of the Purple Feather, the Honors Society of the U.P. College of Law, and is a life member of the Honor Societies of Phi Kappa Phi and Pi Gamma Mu.
COMMISSIONER BLAS JAMES G. VITERBO
Commissioner Blas James G. Viterbo is a corporate and tax lawyer by profession with a background in management and finance coupled with practical experience in public policy and entrepreneurship.
He entered the private workforce with the position of Supervising Senior, handling corporate and tax issues, in KPMG Philippines, then affiliated with Laya Mananghaya & Co. After two years, he left private practice and joined public service as an entry-level legislative-technical staff lawyer in the senate office of Senator Mar Roxas. He rose through the ranks, becoming Chief of the Legislative-Technical Unit, then Deputy Chief of Staff and ultimately, Chief of Staff / Legal Counsel. He was also appointed as Legal Counsel of the Senate Committee on Trade and Commerce.
Under the Tuwid na Daan Administration of President Aquino, he was appointed as a Member of the Board of the Development Bank of the Philippines (DBP) where he served for two years and advocated good governance initiatives. He sat in the Audit, Human Resources and Trust Committees of the Bank as well as DBP representative in the Maritime Industry Authority (MARINA) Board.
As a private citizen, he was a Director and Treasurer of a closely owned holding corporation with business interests in mass media, power generation, commercial and tourism realty development, among others.
He is a graduate of BS Business Administration & Accountancy and also a holder of a LLM degree from the College of Business Administration and College of Law, respectively, both from the University of the Philippines.
COMMISSIONER EMILIO B. AQUINO
Emilio Benito Aquino was appointed as SEC Commissioner by President Rodrigo R. Duterte on December 2, 2016. He took his oath before Finance Secretary Carlos G. Dominguez III last December 7, 2016.
For over a decade, Commissioner Aquino was a practicing CPA-Lawyer based in Western Mindanao. He taught commercial law subjects at the law schools of Ateneo del Zamboanga and Western Mindanao State University.
His present appointment marks his return to the SEC where he rose through the ranks to become the youngest Director of its former Prosecution and Enforcement (PED) and Non-Traditional Securities and Instruments (NTD) Departments. He is credited for having issued the most number of Cease and Desist Orders against pyramiding and boiler-room operations of pseudo investment firms. He also headed the SEC Davao and Zamboanga Extension Offices where he launched capital market promotion activities as well as relentless enforcement drive against investment scams in the countryside.
He earned a Bachelor of Science degree in Commerce major in Accounting, Magna Cum Laude and Valedictorian at the Universidad de Zamboanga in 1984. He hurdled the CPA Licensure Exams with a rating of 89.14%. He finished his law studies at San Beda College where he was a Dean’s Lister and Silver Medalist. He placed 16th in the 1992 Bar Exams.
Under a government scholarship, he earned a Master’s degree in Public Management at the Development Academy of the Philippines, graduating at the top of his class. He was also sent to the University of Sydney in Australia where he was conferred a Certificate of Study for a short course in Effective Governance. He completed the Management Development Program of the Asian Institute of Management (AIM) in 2002.
He also participated in numerous foreign trainings and conferences in Asia, Europe, Australia and North America to include two International Institutes on Enforcement and Securities Market Development at the US SEC in Washington D.C. and in New York.
A Multiple Paul Harris Fellow (PHF+7) of The Rotary Foundation, he was the President of the Rotary Club of Zamboanga City West for RY 2009 to 2010 capping the Most Outstanding President plum plus 14 major District Awards and 6 Rotary International Citations and Distinctions. He is a Past President of the Integrated Bar of the Philippines Zambasulta Chapter which was conferred under his able leadership the coveted IBP Best Chapter Award during the 15th National Convention of Lawyers in Cebu City. He was elected President of the UZ Alumni Association and was twice awarded as the Most Outstanding Alumnus of Universidad de Zamboanga in the field of Law and Accountancy. He also held top positions in the local and regional levels of the Philippine Institute of Certified Public Accountants and the Scouting Movement.