Two experts in the local capital market have been appointed as members of a Philippine Stock Exchange (PSE) body mandated to oversee the ranks of listed companies and trading participants.

Now included in the Market Integrity Board are Nina Aguas and Conchita Manabat. The PSE said the two would help the MIB in overseeing the Market Regulation Division (MRD).

The MRD helps minimize the risk of the investing public by making sure all trading participants adhere to the rules and code of conduct of the PSE and to all related legislative and regulatory requirements.

The MIB, on the other hand, affirms, reverses or modifies decisions made by the MRD.

"We in the PSE board invited Mmes. Nina Aguas and Conchita Manabat to the MIB, because of their proven expertise on capital market matters. Moreover their integrity is beyond reproach," PSE president and chief executive officer Francis Lim.

"Their appointment reaffirms the strong commitment of the PSE to maintain the integrity of the stock market and encourage more investors to entrust their money in our local stock market."

Mabat was the founder and chairperson of CL Manabat & Co., a member firm of one of the world's largest audit firms, Deloitte Touche Tohmatsu. She also currently sits as a member of the boards of Fujitsu Philippines Inc., Consultative Advisory Group of Ethics Standard Board of the International Federation of Accountants (IFAC) and Consultative Advisory Group of the International Auditing & Assurance Standards Board of IFAC.

Aguas, meanwhile, landed senior management positions for Citigroup Inc. over the last 25 years.

Aguas' career included stints as managing director and head of corporate center compliance for Citigroup in New York from 2006 to January 2008 and as country business manager for the global consumer group of Citibank, NA Philippines from 2000 to 2005. Her last position was Managing Director, Head of Corporate Compliance of Citigroup in New York.