Bayan Muna party-list Rep. Carlos Zarate said his proposal was apart from the suspension and freezing of all the bank and financial accounts of the four SSS executives who were into alleged self-dealing in the stock market. “This is in line to see if indeed that it is only the four SSS executives who are using their positions to enrich themselves. Zarate also said that the planned increse in contributions of SSS members should be lifted in the wake of the controversy. The four SSS officials who resigned were SSS equities investment division chief Reginald Candelaria, SSS chief actuary George Ongkeko Jr., SSS executive vice president for investments Rizaldy T. Capulong and equities product development head Ernesto D. Francisco Jr. The SSS executives SSS have been accused by a commissioner of conflict of interest and profiting from illegal transactions.

Source: The Standard November 02, 2017 14:48 UTC