Business

PSE issues stern warning to Security Bank’s stock brokerage for late disclosure

The Philippine Stock Exchange has issued a strong warning to SB Equities Inc which was found in violation of its disclosure requirements.

By Eileen Mencias

The Philippine Stock Exchange has issued a strong warning to SB Equities Inc which was found in violation of its disclosure requirements.

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In a memorandum to the investing public and trading participants dated Nov. 7, the PSE said the stock brokerage unit of Security Bank failed to submit certification on their PSE shareholdings on time.

Security Bank raises P6.06B via long-term deposit notes

Under trading rules, trading participants are required to submit a monthly certification on changes in their list of related parties, their shareholdings in the PSE as well as the PSE’s shareholdings in the brokerage.

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The certification must be signed by the trading participants’ nominee.

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