Shakeup at PSE board amid stock market scandal

The Philippine Stock Exchange has announced a leaner top management team come July as it seeks a fresh start in the aftermath of a multimillion-peso equity market scandal.

Tanco, a longtime PSE director and chairman of brokerage company Ventures Securities, Inc. came under pressure after his brokerage firm got entangled in a financial fraud involving at least ₱700 million worth of shares siphoned off from stock market investors. Tanco's Ventures Securities has appealed the SEC decision saying the PSE's investigation unit, the Capital Markets Integrity Corporation , did not flag the brokerage of anomalies during the CMIC's regular audit.

Millions of pesos in fines have also been imposed on the two brokerages and their officials, except for Tanco.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Not all ambulant vendors will be accommodated in interim market — MODCDNTopStories: Only a portion of the interim market, mostly on the exterior portion, will be allotted for the ambulant vendors and the space cannot accommodate all 1,700 registered vendors.
Source: cebudailynews - 🏆 8. / 71 Read more »

Hawkish Fed fuels dollar, leaves stocks and bonds bruisedWorld equities were heading for their biggest fall in weeks on Thursday after the US Federal Reserve startled investors by signaling it might raise interest rates at a much faster pace than assumed, sending bond yields and the dollar sharply higher.
Source: ANCALERTS - 🏆 26. / 50 Read more »