The Securities and Exchange Commission approved the application of Dragonfi Securities Inc. to act as personal equity and retirement fund (PERA) administrator.
The approval will make Dragonfi Securities, the brokerage firm of tycoons Tony Tan Caktiong and Edgar Sia, the first SEC-accredited PERA administrator.
Dragonfi became eligible for accreditation after the SEC issued Memorandum Circular 14 2024, which expanded the categories of entities eligible to register as PERA administrators to include securities brokers, investment houses and investment company advisers or fund managers.
“We issued MC 14 last September, recognizing the potential of our pension system to broaden public participation in corporate value creation and strengthen the capital market,” SEC chairman Emilio Aquino said.
“This approval is a significant step toward empowering Filipinos to secure their financial future while easing fiscal pressures on the government in the long run,” he said.