RP joins watchdog group

RP joins watchdog group

MANILA (UPI): The Philippines has joined an international
watchdog group set up to stop market manipulation and illegal
dealings in stock exchanges in the region, officials said
yesterday.

The Philippines has been named one of the founding members of
the Asia Pacific Market Surveillance Group, together with the
Hong Kong Securities and Exchange Commission, the Thai Securities
and Exchange Commission and the Securities and Exchange
Commission of Taipei.

A working committee, including the Philippine Securities and
Exchange Commission, plans to submit a preliminary report to the
group's next meeting, scheduled to be held next year in Beijing.
An initial report by the group has identified a number of
offenses widespread in the region, including market manipulation
and insider trading.