The Securities and Exchange Commission (SEC) has penalized lending firm Nittan Capital Finance Inc. (NCFI) for failing to completely disclose to borrowers its charges, interest rates, amortization, and other fees prior to the signing of a loan agreement. In an order dated Feb. 13, the SEC’s...
The Securities and Exchange Commission (SEC) has cleared a plan by PNB Holdings Corp., the real estate arm of Philippine National Bank, to list its shares on the local bourse by way of introduction, paving the way for the lender to unlock value from its prime property portfolio. The Commission En...
Senate President Pro Tempore Panfilo "Ping" Lacson said on Saturday, March 14, that the Commission on Appointments (CA) could be held liable for violating the law if it amends the minutes of its Feb. 4 hearing. This specific hearing included Sen. Rodante Marcoleta 's "give up the Kalayaan...
The Securities and Exchange Commission (SEC) has released draft guidelines to lift its nearly five-year moratorium on online lending platforms, signaling a shift toward digital expansion while tightening oversight of the nation 's burgeoning fintech sector. The proposed circular, released for...
Former environment secretary Raphael Perpetuo “Popo” Lotilla on Wednesday, March 11, vowed to help bolster the ties between Manila and the Vatican City. This, after the Commission on Appointments (CA) approved Lotilla’s appointment as Ambassador Extraordinary and Plenipotentiary to the Holy...
A potential loophole involving girlfriends or boyfriends as well as extramarital relationships of public officials was raised on Tuesday, March 10, during Senate deliberations on a bill that would disqualify relatives of government officials from participating in government bidding. During the...
The Securities and Exchange Commission (SEC) has relaxed its rules for firms holding annual stockholders’ meetings (ASMs) earlier than prescribed by requiring only a notification instead of prior approval from the commission. The SEC said this applies to publicly listed companies (PLCs) and other...
The Senate on Monday, March 9, approved on third and final reading Senate Bill No. 1744, otherwise known as the Fair Debt Collection Practices Act. Voting 20-0-0, the Upper Chamber approved the proposed measure, which aims to regulate debt collection practices and protect debtors from abuse,...
Overcoming great challenges will not be possible if half of humanity is excluded from shaping solutions. This was what President Marcos told world leaders during the 70th session of the United Nations Commission on the Status of Women, emphasizing that women must be present where decisions are...
The Securities and Exchange Commission (SEC) has revoked the corporate registration of MCM Royalty Legacy International Inc. and fined its leadership for the unauthorized solicitation of investments from the public, according to an order from the regulator. The SEC’s Enforcement and Investor...
The Philippine Association of Securities Brokers and Dealers Inc. (PASBDI) has opposed the plan by the Securities and Exchange Commission (SEC) to impose a mandatory 10-year term limit on broker directors of exchanges, arguing the move would strip the local bourse of critical expertise. In a...
The Securities and Exchange Commission (SEC) is moving to overhaul the stock exchange 's leadership, proposing strict term limits that would unseat several long-serving power players in the local brokerage community. Under draft SEC rules released for public comment, broker directors would be...
