As part of its streamlining efforts, the Philippine Stock Exchange (PSE) said it had shut down several inactive brokerage firms. PSE President and Chief Executive Officer Ramon Monzon, in a recent interview, said that the regulator has cancelled the trading rights of 50 inactive brokers. One of the changes the PSE was suggesting is the increasing of capitalization from P30 million to P100 million. Apart from this reform, PSE called on the implemented of Name on Central Depository mechanism to allow more transparency in trade reports. The same practice is being observed, the PSE chief said, in Singapore, Malaysia, Thailand, Hong Kong and China.

Source: Manila Times December 31, 2019 16:33 UTC