The WFE's Women Leaders 2024 - Veronica Del Rosario, General Counsel and Compliance Officer of the Philippine Stock Exchange

Name: Veronica Del Rosario

Organisation: The Philippine Stock Exchange, Inc.

Job Title: General Counsel and Compliance Officer

1. Brief job description

Atty. Veronica Del Rosario is the general counsel of the PSE. She is primarily responsible for the formulation of rules to implement the reforms and policies adopted by PSE for the development and regulation of the stock market. She is also responsible for the procurement of regulatory approvals for new projects, products, and services launched by the stock exchange. 

As compliance officer, she monitors PSE’s compliance with laws and regulations in its capacity both as a listed company and a self-regulatory organization.

2. Short biography

Del Rosario joined the Philippine Stock Exchange in 2010 as a Legal Officer before being appointed as General Counsel in 2016 and Compliance Officer in 2020. She is the first female General Counsel of the PSE and the longest-serving one at that. Prior to said appointments, she also served as Officer-in-Charge of the Market Data Department for almost a year (between 2014 and 2015) which allowed her to take on an operations role and to be more involved in the operations side of the business.

Del Rosario holds a Bachelor of Science degree in Business Economics and Bachelor of Laws degree from the University of the Philippines. She is licensed to practice law in the Philippines and New York.

She likes to travel with family and friends and learn about different cultures.

3. What were your professional highlights and challenges of 2023?

My professional highlight in 2023 was securing regulatory approval for PSE’s acquisition of the fixed-income exchange and the securities depository with the objective of integrating the operations of the fixed income and equities market as well as the post-trade settlement functions under one group. This is a key initiative that we have been working on for quite some time and finally getting the green light for this project from our regulator is a major milestone for us.

I also headed the legal team that worked on getting the regulatory approvals needed for the rollout of the short selling program, which PSE was able to launch in November 2023.

In the same year, I also taught the Securities Regulation module of the Certified Securities Specialist Course, a certification program run by PSE in partnership with leading schools and universities in the Philippines. It gave me a sense of fulfilment that I was able to impart to others what I have learned from years of practice in the securities industry.

In terms of challenges, the constant challenge for us as a market operator and regulator is to make sure that we have an enabling regulatory environment for new products and services, especially those created by virtue of technological innovations. The advances in technology, especially fintech, has drastically altered ways of doing business so we are compelled (in a good way) to keep up with these technological advances which are rather quick-paced.

4. Tell us about a few of your key achievements?

During my tenure as general counsel, I spearheaded the amendment of rules to implement major market reforms such as the overhaul of the Main and SME Board Listing Rules to allow, among others, the sponsor-driven listing of SMEs, adoption of rules allowing the listing of Real Estate Investment Trusts, increased retail investor participation, and easing of lock-up requirement for certain groups of investors to allow them to re-deploy their funds in other investee companies.

5. Who and what inspires you to achieve your professional success?

Throughout my career, I have come across many great role models who have inspired me to improve my craft, develop leadership skills, and aspire for professional and personal growth. These include my former and current bosses who I learned a great deal from and instilled in me the value and necessity of continuous learning, senior leaders in the business community who I admire for their ability to make quick but carefully considered decisions, and even young entrepreneurs who are brave enough to start their own business or projects at such a young age and with limited resources. They all inspire me to be better at what I do.

My parents are also a big part of my professional success. I was able to get to where I am now because of the solid foundations they have laid for me.

Needless to say, my husband and kids inspire and motivate me to keep working hard. They also serve as my support system. I am able to juggle demands at work and home because they are very supportive.

Lastly, I think a very important factor is that I have never lost my passion for my work. 

6. How have you overcome setbacks, and what have you learned from adversity?

I think it helps to accept and acknowledge early on that your professional journey will not always be smooth. There will be bumps and setbacks along the way and when that happens, you just have to roll with the punches, adapt, and continue forward.

7. What advice do you have for other women who aspire to be in leadership positions? 

Being a woman should not dictate how far you can go up the corporate ladder. Do not limit your potential. What’s important is to always work with integrity — work hard even when no one is watching, strive for excellence, and do not settle unless you are satisfied that you have done great work. Your hard work will pay off eventually.

For those aspiring to be leaders, it’s also important to not be afraid to take accountability and make judgment calls when circumstances call for it.