SEC stands firm vs GMA challenge on director term limits

MANILA, Philippines — The Securities and Exchange Commission (SEC) pushed back against GMA Network Inc.’s court challenge to its new term limits for independent directors. “We will stand our ground. Our people clamor against political dynasties—so our public companies must reject boardroom entrenchment. No double standards.” SEC Chair Francis Lim told the Inquirer. Lim said raising governance standards is key to restoring trust in the local capital markets, which he said had been lagging. READ: SEC bans independent directorship beyond 9 years “We must raise our governance standards to restore investor confidence. Our stock market has been falling behind,” he […]... Keep on reading: SEC stands firm vs GMA challenge on director term limits

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