Sonny Dominguez fed up with PSE, blames stockbrokers for blocking market growth
The Philippine Stock Exchange has come under fire from Finance Secretary Carlos Dominguez.
In his Twitter account, Dominguez has assailed the PSE for not complying with the preconditions set for the acquisition of the Philippine Dealing Systems Holdings Corp.
“The development of the capital market is being slowed down by the PSE?s inability to be compliant with the law. The Duterte administration will no longer tolerate private institutions thwarting the goal of achieving a robust and inclusive financial system,” Dominguez said.
“Around September of 2016, I told PSE to be compliant with the law with regards to the allocation of their share to groups of shareholders as a condition to SEC’s approval of their plan to acquire PDS. As of now, 16 months later, they are not compliant,” he added.