COL Financial says possible breach has no 'material impact'

ABS-CBN News

Posted at Oct 23 2017 10:43 AM

MANILA - Top stock brokerage COL Financial said Monday the potential breach its system, if confirmed, would have no "material impact" on its business.

COL Financial said at the close of trading last Friday that the "possible breach" involved client information and it reported the matter to the National Privacy Commission.

The incident is being investigation and COL said it could not comment on the scope of the possible breach.

"However, we can say with confidence that the breach, should it be real, will not have any material impact on the operations/business of the company," COL Financial told the stock exchange.

Clients' account balances and stock positions "have not been compromised," it said.

Established in 1999, COL Financial said it serves over 200,000 customers and has P62 billion in customer assets.