THE Securities and Exchange Commission (SEC) is close to finalizing a set of rules designed to encourage natural-gas and petroleum-exploration companies to list on the Philippine Stock Exchange (PSE).

In a recent interview, SEC Commissioner Juanita Cueto said the corporate regulator hopes to release the said rules by the third quarter. “We will be having this soon. There is going to be a memorandum of understanding with the Department of Energy [DOE] [for the listing guidelines],” Cueto said. “We will be depending on the data the DOE will furnish, and their evaluation [of these firms].”  She explained that the rules will focus on the listing requirements of these types of companies, as well as better disclosure and monitoring guidelines although she declined to give specific details.  “We also want to clarify the risks,” Cueto said, noting the speculative nature of this type of industry.

In a previous interview, Cueto said discussions involved shortening the disclosure times of reports to make these “more responsive” to the needs of investors. She said a number of firms in this sector have already expressed their intention to list on the PSE, although she did not name these companies.

Philex Petroleum Corp., the petroleum and energy unit of Philex Mining Corp., is the latest firm to announce a plan to list on the bourse by way of introduction.