BUSINESSWORLD (PHILIPPINES): Roco gives DoJ copy of report on stock mess

At present, Mr. [Ruben C. Ladia] said, only two of the five individuals and two of the seven brokers in the PED report can be recommended for criminal prosecution, if the commission were to strictly follow the injunction order. Since, according to an SEC source, the PSE report was used as a "gu...

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Bibliographic Details
Published in:Business world (San Juan, Philippines) Philippines), 2000-03, p.1
Main Author: NORMAN P. AQUINO, CATHERINE C. JUNIA, CECILLE S. VISTO, ELIZABETH
Format: Article
Language:English
Subjects:
Confidence
Criminal investigations
Injunctions
Investments
Jimmy Juan, Jr
Ladia, Ruben C
Lim, Federico
Presidents
Restraining orders
Roco, Raul
Scandals
Securities markets
State court decisions
Stock brokers
Stock exchanges
Violations
Yasay, Perfecto R
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Summary:At present, Mr. [Ruben C. Ladia] said, only two of the five individuals and two of the seven brokers in the PED report can be recommended for criminal prosecution, if the commission were to strictly follow the injunction order. Since, according to an SEC source, the PSE report was used as a "guide" in arriving at the other individuals and entities implicated in the PED report. Mr. [Estrada] insisted that it was Mr. [Perfecto R. Yasay]'s presence at the SEC as the cause of the loss of investors' confidence, adding he was confident the market will rebound once Mr. Yasay steps down and reforms are implemented at the SEC and the PSE. "According to the SEC, it's true that Belson did not renew the license (of Mr. Lim, Jr.) and [Almadro] admitted that the license was not renewed. After I read Almadro's position, they confirmed na tama si Almadro (Almadro was right)," Mr.Villaroman said.
ISSN:0116-3930