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

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Lim, a former president of the Philippine Stock Exchange, was Rappler’s lead counsel in the shutdown case of the Duterte-era Securities and Exchange Commission against Rappler

MANILA, Philippines – President Ferdinand Marcos Jr. has named corporate law and litigation specialist Francis Edralin Lim as the new chairman of the Securities and Exhange Commission (SEC).

Lim will replace SEC chairman Emilio Aquino whose term expires on June 5, Thursday. 

In a statement sent to Rappler, Lim said: “I am deeply honored and humbled by the trust and confidence that President Ferdinand R. Marcos Jr. and his team have placed in me through this appointment. I make no grand promises — only that I will put my heart and soul into this important responsibility, guided by the highest standards of integrity and service, for the good of our country.”

The SEC is the Philippines’ corporate regulatory body, and its chairman has a seven-year term.

Lim is a senior legal counsel in ACCRALAW, one of the top Philippine law firms founded in 1972 by the late senator Edgardo J. Angara and Manuel Abello. 

Lim was Rappler’s lead counsel in the shutdown case of the Securities and Exchange Commission (SEC) against Rappler itself, which the Court of Appeals (CA) voided on August 9, 2024. In that ruling, the CA said: “The facts show that Rappler Holdings, and by extension Rappler, are currently wholly owned and managed by Filipinos, in compliance with the Constitutional mandate.”

During the Rodrigo Duterte administration, the SEC in January 2018 revoked Rappler’s incorporation papers and declared null and void the Philippine Depositary Receipts (PDRs) issued to Omidyar Network Fund LLC by its parent firm Rappler Holdings Corporation, due to a provision that allegedly violated the 1987 Constitution.

Lim was also Rappler’s counsel in several tax cases filed during the Duterte administration. In February 2025, the Court of Tax Appeals (CTA) affirmed the acquittal of Rappler chief executive officer and Nobel Peace Prize laureate Maria Ressa, and Rappler Holdings Corporation (RHC) in four counts of tax violations.

Lim’s practice areas are: securities and capital markets bankruptcy, insolvency and corporate rehabilitation, anti-trust and trade regulation. 

“With his experience, his clients rely on him for corporate and strategic advice,” his profile on ACCRALAW reads. 

Other high-profile cases he has handled include: the Philippine Long Distance Company’s foreign ownership issue; the Poverty Eradication and Alleviation Certificates (PEACe) Bonds; Sanofi cases on Dengvaxia.

Some of the major capital-market related transactions in the Philippines he has handled involve major companies such as Ayala Corporation, BDO Unibank, Bloomberry Resorts Corporation, Century Properties, Lucio Tan Group of Companies, and Filinvest Group. 

Lim served as president and CEO of the Philippine Stock Exchange (PSE) from 2004 to 2010, and was president of the Management Association of the Philippines in 2020. 

Lim obtained his Bachelor of Laws degree (Second Honors) from Ateneo de Manila University in 1981 and was admitted to the Philippine Bar that same year.

He is a law professor at the Ateneo Law School and San Beda College Graduate School of Law. He teaches Securities Regulation, International Business Transactions, Arbitration, Evidence, and Partnership.

He also holds a Master of Laws from the University of Pennsylvania, USA, which he obtained in 1987. 

Lim is an alumnus of the University of Sto. Tomas where he obtained Bachelor of Arts (cum laude) and Bachelor of Philosophy (magna cum laude) degrees. 

He is a member of the Cagayan chapter of the Integrated Bar of the Philippines. – Rappler.com