Call for Stricter Insider Trading Rules
16 December 2011
The Manila Bulletin reports that the Senate Banks Committee plans “to push for the amendments of various banking and financial institutions to tighten up rules on insider trading” following a recent Senate inquiry into “alleged anomalous, large-scale financial transactions involving behest loans” during the Arroyo administration. The proposed reforms will reportedly be challenged in both the House of Representatives and the Senate, although Senator Sergio Osmeña III opined that “[t]he stronger, the cleaner [and] the more transparent our financial backbone is, the stronger will our economy be”.
Manila Bulletin: Tight insider trading rules pushed (13 December 2011)
(Source: Manila Bulletin)