PSE lifts suspension of brokerage firm

ABS-CBN News

Posted at Jul 20 2011 01:42 PM | Updated as of Jul 20 2011 09:47 PM

MANILA, Philippines - Gatchalian-controlled brokerage firm Westlink Global Equities Inc. has resumed operations after being suspended by the Philippine Stock Exchange (PSE) for 15 days due to alleged "manipulative practices."

"Effective today, July 20, the suspension of Westlink is lifted," the PSE said in a memorandum.

The brokerage firm was barred from trading from June 29 to July 19.

The PSE earlier said the firm violated Section 24 (a) of the Securities Regulation Code which prohibits "any person acting for himself or through a dealer or broker, directly or indirectly to create a false or misleading appearance of active trading in any listed security traded in an exchange."