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Editing by Nathaniel Cajuday
- SEC Commissioner Kelvin Lester Lee has received two international awards for his leadership in promoting fintech innovation in the Philippines.
- Out of more than 800 nominations across the region, Lee received the Gold Stevie Award for Thought Leader of the Year at the 10th Annual Asia-Pacific Stevie Awards. The Gold Stevie Award for Thought Leader is the highest award for the said competition.
- Lee, who is currently the Supervising Commissioner of the Markets and Securities Regulation Department (MSRD) and the Information and Communications Technology Department (ICTD), was recognized as an exceptional FinTech Regulatory and Innovation Leader by the Asian FinTech Academy.
Securities and Exchange Commission (SEC) Commissioner Kelvin Lester Lee has recently been awarded two international honors for his exceptional leadership in promoting financial technology (fintech) innovation in the Philippines’ business sector. He received recognitions from the Asia-Pacific Stevie Awards and the Asian FinTech Academy.
“I am honored to receive these awards, which not only attest to the Commission’s exemplary performance, but also show its continued commitment to pursue initiatives that will help in the further growth of the Philippine business sector,” Lee stated.
Last year, Lee was also named one of the first Blockchain Champions during the “Philippine Block Awards” in line with the celebration of Philippine Blockchain Week.
Thought Leader of the Year
Lee received the prestigious Gold Stevie Award for Thought Leader of the Year at the 10th annual Asia-Pacific Stevie Awards, which recognizes innovation in workplaces across all 29 nations in the region. The award was given to Lee for his significant contributions to promoting innovation and driving change in the financial industry in the country.
The Commissioner was chosen out of more than 800 nominations across the region. The recipients of the Gold, Silver, and Bronze Stevie Awards were selected based on the mean scores provided by over 100 international executives who served as judges during the months of February and March.
“The 10th edition of the Asia-Pacific Stevie Awards attracted many remarkable nominations… The organizations that won this year have demonstrated that they are committed to being innovative, and we applaud them for their perseverance and creativity,” Stevie Awards President Maggie Miller said in a statement.
FinTech Regulatory and Innovation Leader
Last month, during the Asian Digital Finance Forum & Awards on March 19, 2023, Lee was also recognized as an exceptional FinTech Regulatory and Innovation Leader by the Asian FinTech Academy (AFTA), an organization based in Sri Lanka that offers executive programs focused on fintech, blockchain, digital assets, and digital finance.
The academy is affiliated with the International Board of Standards, which is headquartered in Colorado.
SEC’s FinTech Efforts
Currently, Lee is the Supervising Commissioner of the Markets and Securities Regulation Department (MSRD) and the Information and Communications Technology Department (ICTD). He also spearheaded the establishment of (and currently supervises) the International Affairs and Protocol Division (IAPD) and PhiliFintech Innovation Office (PhiliFiNNO) of the Commission.
In 2021, Lee was part of the initial group of participants in the Fintech and Regulatory Innovation program at the University of Cambridge, which ultimately resulted in the creation of the PhiliFintech Innovation Office (PhiliFINNO) within the SEC. PhiliFINNO now serves as the main office for the Securities and Exchange Commission (SEC) in developing regulations and policies related to fintech, with the aim of fostering an innovative environment in the corporate sector while addressing consumer and investor protection concerns.
Last January, PhiliFINNO forged a partnership with the University of the Philippines Law Center (UPLC) through the University of the Philippines Legal Center Research Program, as outlined in a memorandum of understanding.
In early 2022, the SEC released a draft version of the implementing rules and regulations (IRR) of the Financial Products and Services Consumer Protection Law (Republic Act 11765) in a bid to fight against fraudsters leveraging on the popularity of crypto among Filipinos. Once implemented, the Commission could impose stricter penalties on scammers and Ponzi schemes.
In an interview last month, Lee revealed that the Commission has already created a regulatory framework for cryptocurrencies in order to offer more protection and security to investors in the Philippines. However, he also disclosed that the news was supposed to be shared during the Philippine Blockchain Week last November, but was postponed due to the FTX collapse. Currently, the said draft is still not released to the public.
“Innovations in fintech are already playing a big part in our economy. We at the SEC will continue to work with our stakeholders to encourage growth in the sector, which recognizing the benefits and risks associated with these emerging technologies,” Lee concluded.
This article is published on BitPinas: ROLE MODEL: SEC Commissioner Kelvin Lee Bags Two International Fintech Leadership Awards
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.