MANILA – The Ayala and SM groups led the winners of the 2012 Philippine Stock Exchange Bell Awards, which recognized listed companies and trading participants adhering to higher standards of corporate governance.

On Monday, the local bourse recognized three Ayala group members – Ayala Land Inc, Manila Water Co Inc and Globe Telecom Inc – as well as two Henry Sy-controlled companies – SM Prime Holdings Inc and China Banking Corp – as the first recipients of the corporate governance citation.

Macquarie, COL Financial Group Inc and CLSA were named as the top large trading participants, while Armstrong Securities, Tri-State Securities and PCIB Securities received the recognition for small brokers.

President Benigno Aquino III, along with Vice President Jejomar Binay, presented the awards to the winners during the recognition night held at the Makati Shangri-la Hotel.

The panel of judges included British Ambassador to the Philippines Stephen Lillie; Associate Justice Estela Perlas Bernabe of the Supreme Court; Securities and Exchange Commission Chairperson Teresita Herbosa; Jesse Ang, resident representative of the International Finance Corp; Antonio Garcia, president of the Capital Markets Integrity Corp; and Judith Lopez, chairperson and senior partner at Isla Lipana & Co.

The winners were assessed on the basis of their adoption of the PSE’s Corporate Governance Guidelines for Listed Companies, the results of the regulatory audits of brokers, and compliance with PSE Rules, including the Listing and Disclosure Rules, Market Regulations and Trading Rules, and other relevant laws.

The Bell Awards seek to raise corporate governance standards and promote global best practices in the stock market by recognizing excellence in corporate governance among listed companies and trading participants.