Securities and Exchange Commission (SEC) Chairman Francis E. Lim pointed to corruption as “a weapon of mass wealth destruction” as investigations into anomalous flood control projects have eroded investors ' confidence to the extent ₱1.7 trillion in market capitalization has been wiped...
The Anti-Money Laundering Council (AMLC), in support of the Independent Commission Against Corruption (ICAC), has frozen more than ₱4 billion in assets linked to fraudulent flood control projects as the government intensifies its crackdown on corruption. The move follows the AMLC’s issuance of...
Commission on Elections (Comelec) Chairman George Erwin Garcia confirmed on Tuesday, Oct. 7, that they are also looking into 2022 presidential and vice presidential candidates over the campaign donations made to them by contractors. In a television interview on ANC, Garcia said that they are part...
The Securities and Exchange Commission (SEC) is warning the public against dealing with persons or groups involved in schemes that supposedly offer assistance to help scam victims recover their lost funds, but are actually designed to defraud them a second time. In an advisory, the SEC stated that...
The Securities and Exchange Commission (SEC) is seeking to encourage more industries to list their assets as real estate investment trusts (REITs) by expanding the list of income-generating assets that can qualify as REIT assets. In an interview, SEC Chairman Francis Ed. Lim said the SEC is clearly...
Senate President Pro Tempore Panfilo "Ping" Lacson confirmed on Saturday night, Oct. 4, that he has cancelled the next Blue Ribbon Committee hearing on the anomalous flood control projects next week "until further notice". In a Viber message, Lacson, who chairs the investigative panel, initially...
Commission on Elections (Comelec) Chairman George Erwin Garcia confirmed on Saturday, Oct. 4, that a show-cause order has been issued to Senator Francis "Chiz" Escudero over the P30-million campaign donation he received from a contractor for his May 2022 election bid. "Ito po ay naipadala na...
The Energy Regulatory Commission (ERC) has approved the connection of Lihangin Wind Energy Corp.’s (LWEC) San Isidro Wind Power Project to the Visayas grid, which would mark the entry of its wind capacity into the system. LWEC, a joint venture of Aboitiz Renewables Inc., Vivant Energy Corp., and...
The Securities and Exchange Commission (SEC) has lifted the suspension of Jia Financing Inc.’s Certificate of Authority after admitting that it had failed to observe due process by not first notifying the firm of its violations. In moving for a partial reconsideration, Jia said the order issued...
"Ganyan na ba tayo kawalang-hiya ngayon? (Are we really this shameless now?)" This was Baguio City Mayor Benjamin Magalong 's flabbergasted reaction to Ako Bicol Party-list Rep. Alfredo Garbin Jr. 's remark regarding Zaldy Co 's resignation. Magalong said this during the hearing of...
Senator Mark Villar stated on Thursday, Oct. 2, that none of his relatives acquired government contracts during his five-year tenure as the Department of Public Works and Highways (DPWH) secretary. In a statement Thursday, Oct. 2, Senator Mark says that he welcomes and fully supports any...
The Commission on Appointments (CA) on Wednesday, October 1 confirmed the ad interim appointments of Department of Energy (DOE) Secretary Sharon Garin and Department of Information and Communications Technology (DICT) Secretary Henry Aguda. Senate President Vicente Sotto III immediately approved...
