Two SSS execs in stock trading mess have already resigned –SSS chairman Featured

Two SSS execs in stock trading mess have already resigned –SSS chairman Image: Manila Bulletin News

Two of the four Social Security System (SSS) officials being linked to the alleged profiteering in stock market trading have resigned, SSS chairman Amado Valdez said Wednesday.
In a television interview, Valdez identified the officials who have rendered their resignation as Equities Investment Division chief Reginald Candelaria and Chief Actuary George Ongkeko Jr.
"Mr. Candelaria has already rendered his resignation... I think that is last week," Valdez said. "Mr. Ongkeko rendered his resignation I think a month ago."
Valdez took note that the SSS Commission has approved the resignation of Candelaria but the resignation of Ongkeko was put on hold as he "has to complete the advisory work in connection to the change of charter."
In a separate interview, Valdez told GMA News Online that he sees no connection with the two official's resignation on the ongoing probe in relation to stock trading controversy.
"Wala akong nakikitang relasyon, maybe they just want to have a career change or change in employment. Maaaring nagkataon lang na may nag-file ng complaint," he said.
SSS commissioner Jose Gabriel La Viña has filed an administrative complaint against Executive Vice President Rizaldy Capulong, Equities Product Development head Ernesto Francisco Jr., Candelaria, and Ongkeko for allegedly profiting from trading their own stocks with the same stockbrokers who manage the portfolio of the government-run pension fund.
"Kahit nag-file sila ng resignation, they will still be subject to investigation kasi may mga post-termination clearances pang gagawin," Valdez said. "If may unfavorable findings sa investigation then maapektuhan 'yung kanilang separation benefits."
The SSS chairman also clarified that there was no misuse of funds involved in the anomaly but only "conflict of interest."
Asked if SSS officials are prohibited from trading in the stock market, Valdez said, "Hindi naman bawal pero hindi puwede 'yung gagamitin mo 'yung impormasyon na nakuha mo dahil sa trabaho for your personal gain."
Valdez clarified that he is not pre-judging the case pending the results of the investigation. He said the two other officials involved were already suspended from their positions as a standard measure in conducting an investigation.
He also said La Viña, being the complainant, has to inhibit from the probe to give way for an impartial investigation. — GMA News

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