Negosentro | SEC Philippines Commissioner Rogelio Quevedo: bringing compassionate innovations to the Philippine financial ecosystem
In a world where bankers and tycoons dominate the finance industry, Securities and Exchange Commissioner Attorney Rogelio Quevedo stands as a lovable and excited lolo with his heart set on changing the way we view bureaucracy, red tape, and financial assets. At a press conference held recently in Quezon City, Commissioner Quevedo, a long-time teacher at the University of the Philippines College of Law and mentor to some of our country’s top senators, shared his thoughts on cybersecurity, digitization, artificial intelligence, and how the SEC can help micro, small, and medium-sized enterprises thrive in their respective industries.
With years of experience in working for the country’s top telecommunication service providers, Quevedo had his first encounter with managing cybersecurity through the issue of cellphone cloning in the 90s. Cybersecurity breaches are always a major concern for both individuals and corporations, as such issues bring about stoppage of services and possible identity theft. These result to unwanted downtime in businesses, leading to loss of not just profit, but also of public trust. As commissioner of the SEC, Commissioner Quevedo hopes to fortify cybersecurity measures through total digitization of the SEC and with the masterful use of artificial intelligence.
It is Commissioner Quevedo’s aim for the SEC to gain the Filipino’s trust in the government, by creating a conducive financial climate for businesses and clients to both prosper. To further the thrusts of the Ease of Doing Business Act, Commissioner Quevedo plans to reduce the exhausting requirements needed for incorporation and other securities-related matters. Using artificial intelligence to assemble secure databases and automate repetitive tasks, the SEC hopes to ease the need for the submission of redundant documents to every government agency involved in setting up a business. With digitization, the SEC also hopes to user-friendly, accessible, and corruption-free.
As a regulator of corporations, including financing and lending companies, Commissioner Quevedo aims for the SEC to create a space for growth and innovation for Filipinos here and abroad. Having worked in the private sector for decades, Commissioner Quevedo knows the Filipino entrepeneur’s challenges. He states the importance of being a hands-on leader, stating that a regulator should have his foot on the ground. With this belief, he plans to bring innovations to the SEC based on client feedback. “You have to make sure that your innovation is what your client needs”, he reiterates.
Artificial intelligence, or AI, has become a concern for most in the recent years. With AI technology improving at a rapid rate, AI’s capabilities have far exceeded our expectations. From providing fun enhancement to user photos, to text generators, and to the frightening possibilities of deep fakes, AI has become a multi-faceted tool for those who have access to even the simplest computers. But Commissioner Quevedo insists that AI only runs because of human input and that we, as humans, need to learn how to use AI and harness its powers for progress. “AI will never rule our future, but the future will belong to those who embrace AI as a tool to achieve success.”, he states.
The next 6 years will surely be an exciting time for the SEC with Commissioner Rogelio Quevedo at the helm. Like the Catholic church forging on with a new pope, the SEC Phillipines will now be entering a new phase in their history. “With innovation rooted on practicality, it will always have to be service with compassion”, Commisioner Quevedo reminds his agency. In addition to this, the SEC aims to do its part in promoting financial literacy in the Philippines, with every demographic targeted including high schoolers.
With Commisioner Quevedo’s vision, the Securities and Exchange Commission Philippines will be transformed into a high-tech government agency running with all the powers of digitization, but still with a living, beating heart for the success of every Filipino.
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Electronic Simplified Processing of Application for Registration of Company
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