PhilWeb chairman and CEO Robert Ongpin said that he intends to appeal last week’s ruling by the Philippines’ Securities and Exchange Commission (SEC) which banned him from the board of any publicly listed company on allegations of insider trading seven years ago.

The SEC disqualified Ongpin, the former Trade Minister and current chief of the Philippines-based gaming technology provider, for allegedly committing insider trading during the sale of shares in Philex Mining in December 2009.

Ongpin been ordered to relinquish or resign from all of his positions he was holding as officer, member of the board of directors, or any similar functions in a public company.

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