Republic of the Philippines
Securities and Exchange Commission








Chair Teresita J. Herbosa took her oath of office as the new SEC Chairperson before His Excellency President Benigno C. Aquino, Jr. on April 29, 2011.

 Prior to her appointment, she was a senior and the first female co-managing partner of the Angara Abello Concepcion Regala & Cruz Law Office (ACCRA) where her skills and expertise as litigator were fully enhanced. Having been the Head of the ACCRA ’s prestigious Law Department, she was cited as one of the top three litigation lawyers in the Philippines , by the International Financial Law Review in its publication “Guide to the World’s Leading International Business Law Firms 2001 Edition”.  More citations of her legal excellence subsequently appeared in the Asia Pacific Legal 500 (The Guide to Asia ’s Commercial Law Firms) 2001-2002 Edition and in the International Who’s Who of Regulatory Communications Lawyers in 2003. 

During her tenure as ACCRALaw Litigation Head, she has trained a great number of young associates in pre-trial and trial skills.  Her areas of specialization include telecommunications, family law, land and air transportation, contract law, government contracts, public bidding and award, constitutional law, and environmental law. She has also participated in cases before the International Chamber of Commerce (“ICC”) arbitral tribunals.

She is also a professorial lecturer on Remedial Law at the University of the Philippines College of Law and an accredited lecturer for the Mandatory Continuing Legal Education (MCLE).   She has given lectures and has spoken in various international and local conferences, some of which are as follows:

  • 1995  - Inter-Pacific Bar Association Conference - Singapore

  • 2004 - United Nations Commission on Human Rights – Manila

  • 2005 - ASEAN Law Association Conference – Manila

  • Unicef - sponsored lecture series “Trainers’ Course on Child Sensitive Investigation" for the police of the Philippines National Police.

Chairperson Herbosa is also a former Commissioner of the Committee on Bar Discipline of the Integrated Bar of the Philippines (IBP).

 As a private citizen, she is active in civic works.  She is secretary and director of the Rotary Club of Makati,  Paseo de Roxas and is a member of Zonta Manila,  Women Lawyers’ Circle, IOTA TAU TAU International Sorority and Women in Arbitration, International Chamber of Commerce – International Court of Arbitration. 

Chairperson Herbosa graduated both cum laude in two (2) undergraduate degrees – Bachelor of Arts and Bachelor of Laws – 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 1980.

As the new head of the SEC, Chairperson Herbosa commits to use the experience she gained from private practice to contribute to better public governance, and being a direct descendant of the country’s national hero, Dr. Jose P. Rizal, she avows to serve the people with honesty and integrity.







Ms. Ma. Juanita Elegir-Cueto was appointed on June 5, 2001

Ms. Cueto, a member of the Philippine Bar, graduated with the Bachelor of Laws degree from the Ateneo de Manila College of Law. She was Associate Editor of the Ateneo Law Journal. Earlier, she graduated with the Bachelor of Arts degree in Psychology from the University of the Philippines.

She brings to the Commission a stockbroker's background, having been the Chairperson and President of the Yaptinchay Securities Corporation since the year 2000, until her assumption of office. She was also its General Manager, Corporate Secretary and Legal Counsel for eight years.

She was a member of the Philippine Stock Exchange, Inc., and its Committees for Settlement, Demutualization, and the Legislative. She was also a Director and Corporate Secretary of the Securities Clearing Corporation of the Philippines.

Her previous professional experience includes a stint as associate lawyer of the Barcelona, Perlas, Joven and Academia Law Office; Legal Officer III at the Legal Service Office of the Department of Trade and Industry; Legal Staff Officer IV of Representative Vicente Rivera, Jr.; and, Legislative Staff Chief of Representative Edward M. Matti.







Manuel B. Gaite was appointed by Her Excellency President Gloria Macapagal Arroyo on March 16, 2009.

Mr. Gaite finished his degree of Bachelor of Arts in Philosophy (1977) and Bachelor of Laws (1982) at the Ateneo de Manila University. He passed the bar in 1983.

On June 16, 1983, Mr. Gaite joined the Office of the Government Corporate Counsel as a research attorney and rose through the ranks becoming a trial attorney and later a State Corporate Attorney. In February 1986, he was detailed to the Office of the President, where he served in varying capacities and under four presidents starting with President Corazon C. Aquino, Fidel V. Ramos, Joseph Ejercito Estrada, and now President Gloria Macapagal Arroyo.

Prior to his appointment at the Securities and Exchange Commission, he was the Deputy Executive Secretary for Legal Affairs in the Office of the President from January 20, 2003. He was also Executive Director of the Secretary in the Presidential Management Staff.

Mr. Gaite likewise sat in the board of various government corporations - Manila International Airport Authority, Home Guaranty Corporation, Food Terminal, Inc., and Cagayan Economic Zone Authority.







Prior to his appointment as SEC Commissioner on November 23, 2009, Commissioner Eladio M. Jala was an educator, private law practitioner, and lawmaker.

 After doing his undergraduate studies in Education at the Divine Word College (DWC) in Bohol, he worked as a high school teacher in Loboc, Bohol, and taught at the Bohol School of Arts and Trade as well. He finished his law studies in DWC in 1982, and after passing the Bar, he began a lucrative law practice and was an active member of the Integrated Bar of the Philippines, Bohol chapter. He also was a member of the Free Legal Assistance Group (FLAG), Brotherhood of Christian Businessmen and Professionals, and the Bohol Island Lions International Club. His stint both as an educator and a law practitioner made him a driving force in human rights advocacy.

 In 1992, he won a seat in the Bohol provincial board.  For six years as a board member, he sponsored some 180 resolutions and authored some 50 ordinances.  When he won a congressional seat in 1998, he was chosen as Chairman of the Committee on Civil Service and Professional Regulation, Senior Vice Chairman of the Higher and Technical Education Committee, and appointed a member of 13 other House Committees.

 During his tenure as a representative, he filed several bills, the most notable of which were the granting of civil service eligibility to government employees who had rendered continuous service for more than 10 years; the outlawing of political turncoatism; and adopting community service as an alternative penalty for certain offenses in lieu of imprisonment and fines.







            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.


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