PSE urged to launch campaign to revive interest in stock market

The Securities and Exchange Commission (SEC) said the new board of the Philippine Stock Exchange (PSE) should launch a marketing campaign to revive the publics interest and invest anew in the stock market instead of putting their money in dubious investment schemes.

SEC Chairperson Lilia R. Bautista said the new PSE board can start a massive information campaign to promote the bourse and even recommend stock picks or some of the listed blue chip companies.

"The PSE board should market the PSE per se for the people to invest there instead of investing in scams. They should come up with an information campaign that says ‘invest in PLDT’ or something like that," Bautista said.

At the same time, the PSE should woo unlisted companies in the Top 5,000 Companies of the SEC to go public, Bautista said, noting that only a little more than 200 of the Top 5,000 companies are currently listed.

The SEC has called on the new board to reform the PSE by ensuring that stockholders are properly or adequately informed about matters concerning the Exchange.

Bautista stressed that incoming PSE chairperson Alicia Arroyo should immediately work on earning the good graces of her constituency.

"They must make sure the brokers know the issues and the board should engage in an educational campaign for the brokers to know that the exchange is no longer theirs exclusively."

Last April 11, the PSE barely escaped the possibility of a takeover by the SEC after the exchange was finally able to hold its annual stockholders’ meeting/election. The PSE was able to receive the sufficient number of registered shares from the stockholders to form the quorum needed to hold the meeting. – Rocel Felix