Duterte appoints Emilio Aquino as SEC chairperson

NEW CHAIRPERSON. President Rodrigo Duterte appoints Emilio Aquino as new chairperson of the Securities and Exchange Commission. File photo by Chris Schnabel/Rappler

MANILA, Philippines – President Rodrigo Duterte named Emilio Aquino as the new Securities and Exchange Commission (SEC) chairperson, replacing Teresita Herbosa, whose term expires this year.

Aquino's appointment papers were signed by Duterte on Wednesday, June 6, according to the Malacañang Records Office.

Aquino previously served as one of the commissioners in the 5-commissioner SEC. He was the only one appointed by Duterte.

Herbosa was appointed by Duterte's predecessor, Benigno Aquino III, in 2011. Like Herbosa, Aquino will serve a 7-year term.

As SEC chairperson, Aquino will also be a member of the Anti-Money Laundering Council (AMLC). – Rappler.com