SEC chief to appeal ruling<\/p>\n
MANILA (Reuters): The new chief of the Philippine Securities
\nand Exchange Commission said on Monday it would appeal this week
\nagainst a court injunction blocking broader investigations into
\nan alleged share price fixing case.<\/p>\n
Lilia Bautista told reporters on her first day as SEC
\nchairperson that the regulatory body was studying ways to
\noverturn the injunction issued by the Court of Appeals last week
\nstopping it from further investigations into share price
\nmovements of gaming firm BW Resource Corp.<\/p>\n
The injunction stalled the SEC's plan to submit its findings
\nto the justice department, which contained a recommendation for a
\npreliminary investigation as a prelude to criminal proceedings.<\/p>\n
SEC documents distributed to reporters on Friday said it had
\nfound evidence of share price manipulation by BW's majority
\nshareholder, Dante Tan, a friend of President Joseph Estrada, and
\nfour other individuals and recommended further investigations
\ninto seven brokerages.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/sec-chief-to-appeal-ruling-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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