Anti-insider trading planned<\/p>\n
MANILA (Reuter): Southeast Asian stock exchanges are
\nfinalizing plans to exchange information as part of their battle
\nto stamp out insider trading, Philippine Stock Exchange president
\nEduardo delos Angeles said yesterday.<\/p>\n
"The working arrangement is important especially when we were
\ntalking about insider trading where some of the parties may be
\nforeigners," he said at a breakfast forum in Manila.<\/p>\n
Exchange officials plan to meet in South Korea in November to
\nwork out a mechanism for exchanging information following a rise
\nin intra-regional investment.<\/p>\n
Delos Angeles cited cooperation with Kuala Lumpur over an
\ninsider trading probe into Interport Resources Corp of the
\nPhilippines, which is involved in a tie-up with Malaysia's Ganda
\nHoldings Berhad.<\/p>\n
Such cooperation could eventually evolve into a regional
\nsystem of cross-border stock trading, an idea first broached by
\nthe Taiwan, Hong Kong and Tokyo exchanges, he said.<\/p>\n
Exchanges in the Association of Southeast Asian Nations
\n(ASEAN) are now also looking at a regional system linking the six
\nmembers -- Thailand, Malaysia, Singapore, Indonesia, Brunei and
\nthe Philippines.<\/p>",
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"sponsor": "Okusi Associates",
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