{
  "id": 4460080,
  "title": "PSE eyes relaxed rules for SME listing sponsors",
  "url": "https://urgent.news/2026/08/30/pse-eyes-relaxed-rules-for-sme-listing-sponsors",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-30T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/08/31/2552881/pse-eyes-relaxed-rules-sme-listing-sponsors"
  },
  "original_language": "en",
  "account": "The Philippine Stock Exchange Inc. (PSE) is considering relaxing its rules for listing sponsors of companies seeking to list on the small, medium, and emerging (SME) board. This move aims to attract more small and medium companies to go public, as part of the exchange's efforts to expand access to the capital market for high-growth and start-up companies. The proposed amendments to the SME board listing rules are currently open for public comment.\n\nUnder the current rules, a company looking to list on the SME board must have a certain track record of profitable operations or stockholders' equity. However, the PSE is proposing to ease this requirement for applicants who do not meet the criteria but have experienced personnel. Currently, sponsors must have at least five years of experience in a leading role with IPOs or significant corporate finance transactions, or three years of experience if at least two key personnel meet the aforementioned criteria. The PSE is proposing to remove the three-year experience requirement.\n\nAdditionally, the PSE is suggesting the removal of the requirement for professional indemnity insurance for sponsors, as sponsors would still be responsible for any false, inaccurate, or misleading information. However, sponsors would still have the option to obtain such insurance for risk mitigation. The PSE also recommends increasing sponsor accountability, strengthening market integrity, and protecting investors who rely on the sponsor's endorsement.\n\nTo make the sponsor model more competitive, the PSE is recommending making sponsor accreditation perpetual, subject to annual review. Currently, sponsor accreditation is valid for three years. The exchange received feedback that potential sponsors find the obligation to provide continuing sponsorship services to the sponsored company for three years post-listing to be onerous. In response, the PSE is proposing to remove the continuing sponsorship requirement and instead mandate that the sponsored company engage a compliance advisor post-listing.\n\nFurthermore, the PSE is proposing to remove the limit on a sponsor's post-listing stake in the sponsored company. Lastly, the exchange wants to revise the fee framework, with a lower initial admission fee for sponsors and a fixed fee for every company endorsed for listing. Interested parties have until September 7 to submit comments on the proposed amendments to the SME board listing rules under the sponsor model.",
  "summary": "The Philippine Stock Exchange Inc. (PSE) plans to relax its rules for listing sponsors of companies eyeing the small, medium and emerging (SME) board in line with its efforts to attract more small and medium companies to go public.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}