DragonFi becomes first firm to receive Pera accreditation under new SEC rules
inquirer.net — January 9, 2025, 08:00 PM UTC
DragonFi Securities Inc. has become the first company to receive accreditation from the Securities and Exchange Commission (SEC) as a Personal Equity and Retirement Accounts (Pera) administrator under new regulations. The approval was granted on December 18. Previously, only banks, trust corporations, and insurance firms could provide Pera services. The SEC's new guidelines, issued in September 2024, now allow SEC-regulated securities brokers and investment firms to participate. Pera is a voluntary retirement savings program designed to supplement benefits from the state-run Social Security System. As of the end of 2023, there were 5,555 Pera contributors, with total contributions reaching P396.3 million.