This is why the NBI and the Ombudsman should get involved,” Campos, also deputy minority leader, added. Campos urged the NBI to perform a “forensic accounting” on the private stock trades of the executives who are now facing an administrative complaint for “serious dishonesty and grave misconduct” before the Social Security Commission, the pension fund’s governing board. It is possible they bought shares for their personal accounts at a lower price before they sent out large buy orders for the SSS portfolio. And then they may have sold their shares once prices were driven up by the buy orders for the pension fund’s account,” the congressman said. The CMIC is the PSE’s primary and independent regulator of stockbrokers, who are duty-bound to live up to the highest ethical standards.

Source: Manila Times November 02, 2017 16:07 UTC