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.