BIZ BUZZ: A sandbox route to Wall Street
Lsocal investors may soon get another doorway into Wall Street—if DragonFi Securities Inc. passes its latest regulatory test.
The Securities and Exchange Commission (SEC) has given DragonFi final approval to test a product under the SEC StratBox, the corporate regulator’s controlled environment for financial innovations.
DragonFi’s proposed service would allow eligible Philippine-based investors to access selected US equities and exchange-traded funds through an over-the-counter depositary receipt model.
“This is a defining milestone for DragonFi and for Philippine investors,” DragonFi CEO Jon Carlo Lim said.
But the product comes with a distinctly local twist. An investor’s participation in the Philippine capital market will help determine how much exposure they may have to foreign equities.
The setup is intended to make local and international investing complementary instead of forcing investors to choose one over the other.
During the testing period, the SEC will assess the product’s operational framework, investor protection measures and possible regulatory implications.
The results could also guide future rules for similar investment products.
DragonFi will remain subject to testing parameters and regulatory oversight throughout its participation in the sandbox.
For now, investors will have to wait for further announcements before packing their virtual bags for Wall Street.
******
Get real-time news updates: inqnews.net/inqviber
