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Romualdez assures business sector: Maharlika Fund has safeguards vs abuse

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The safeguards placed on the proposal to create the country’s first sovereign wealth fund are enough to protect it from potential abuse, House Speaker Ferdinand Martin Romualdez told the business sector. | GabrielLaluINQ

Romualdez, in particular mentioned these six proactive safety checks under HB No. 6608:

MIC operations will be monitored by the Maharlika Investment Fund Joint Congressional Oversight Committee “If these pro-active provisions are not enough, House Bill No. 6608 also provides heavy penal provisions and criminal sanctions to hold accountable and punish any director, trustee, or corporate officer who is proven to have abused the management of the Maharlika Investment Fund,” Romualdez noted.

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GabrielLaluINQ Yeah right.

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