SEC urged to loosen draft foreign ownership rules

Posted at Dec 11 2012 04:09 PM | Updated as of Dec 12 2012 12:09 AM

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Eight business groups asked the Securities and Exchange Commission to loosen the restrictions in its draft foreign ownership rules. 

The Makati Business Club, Management Association of the Philippines (MAP) and 6 other groups submitted a position paper to the SEC.

MAP president Ed Francisco talks to ANC's Coco Alcuaz about the business group's position. -ANC News Now, December 11, 2012