MANILA - To fill the void left by the resignation of a key official of an oversight body, the Philippine Stock Exchange announced the appointment of an interim head.

In a disclosure on Wednesday, the PSE said, "The Board of Directors of the Company appointed Atty. Cornelio Peralta sa acting Chairman of the Market Integrity Board."

It added that "In the event Atty. Peralta declines the appointment, the Board of Directors will appoint Mr. Jose Luis Javier as acting Chairman."

On September 1, Conchita Manabat tendered her resignation as chairman of the Market Integrity Board (MIB) because of "her desire to limit her multiple roles in several institutions."

The MIB is an independent body under the PSE board. It oversees the Market Regulation Department (MRB), which has the line function of policing the activities of traders and listed companies and makes sure they adhere to the rules and code of conduct of the PSE and to all related regulatory requirements.
The MIB affirms, and could reverse or modify, decisions made by the MRD.

Currently, Peralta is the Vice Chairman of the MIB, while Javier is a member. Both are former independent non-broker directors of the PSE Board.

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Peralta joined the PSE board in 2004. He was tapped because of his experience in law and business having been a member of the board of directors of Kimberly Clark Philippines, Inc. since 1969 where he also served as president and chairman of the board from 1971 to 1998.

Peralta is presently a member of the Board of Trustees of the University of the East and the UERM Memorial Medical Center in the Philippines. He is also a member of the Board of Advisors of Philippine Airlines since 1997 and Board of Governors of the Makati Commercial Estate Association Inc. since 1990.

Among the other companies where he serves as director are: JG Summit Holdings, Inc., Linen Philippines, Inc., Grow Holdings Philippines, Inc. and of the CEOs Inc. where he is also one of the incorporators.

Peralta obtained his law degree from the University of the Philippines and took up Advanced Management program at the Harvard Graduate School of Business.