MANILA, Philippines — The Securities and Exchange Commission (SEC) has released a draft memorandum circular that would impose term limits on broker directors serving on the boards of local exchanges. This is part of efforts to strengthen governance and broaden representation in the capital markets. In a notice issued on March 4, the SEC said its commission en banc approved the exposure of the proposed rules during its March 3 meeting and is now seeking comments from stakeholders. Interested parties may submit their feedback on or before March 19 through email to the agency.  READ: SEC streamlines rules for one-person […]... Keep on reading: SEC floats 10-year cap on broker directors’ tenure in exchanges