Sicat says SEC takeover decision ‘unfair’

The Philippines Stock Exchange Inc. said that it is now exploring its options after the Securities and Exchange Commission denied its application to acquire the PDS Holdings Inc., the operator of the country’s fixed-income market, adding that the manner by which the agency ruled against them was malicious.

Hans Sicat, president and chief executive officer of the PSE told reporters on Wednesday that although it is better to know that the SEC had finally decided on the matter instead of keeping the equity operator in limbo, the way the ruling was communicated to them was made in bad faith.