Perfecto Yasay readily admits to having been offered bribes. “Oh yes, lots of times,” says the chairman of the Philippines Securities & Exchange Commission (SEC). Some have even come from friends and family. “The secret is to make sure your price goes up to levels they cannot reach,” he says with a smirk.
Yasay is the man seeking to reform what many consider unreformable – the Philippine Stock Exchange (PSE). In his personal crusade to clean up the exchange he is predicting at least one jail sentence for a broker before the year-end.
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