The Securities and Exchange Commission (SEC) has issued cease and desist orders (CDOs) against six online lending operators for conducting lending activities without the necessary license from the Commission. The Commission En Banc directed PesoKwento, Pondo Cash, TBAG, Cash Sky, Loan Cash, and...
Senator Sherwin "Win" Gatchalian has urged the Securities and Exchange Commission (SEC) to expedite the creation of a new office to deal with regulation and monitoring of financing and lending firms. Gatchalian on Friday also called for the crackdown on abusive and illegal lenders. His call came...
The Securities and Exchange Commission (SEC) has revoked the license of Cashtrees Lending Corporation for launching and operating unregistered online lending platforms (OLPs) despite a moratorium imposed by the Commission. In an order, the SEC Corporate Governance and Finance Department (CGFD)...
The Securities and Exchange Commission (SEC) has approved the P20-billion shelf registration of fixed rate bonds of Converge Information and Communications Technology Solutions, Inc. The Commission En Banc resolved to render effective the registration statement of Converge covering up to P20...
The Securities and Exchange Commission (SEC) welcomed Atty. McJill Bryant T. Fernandez who has been appointed associate commissioner as Commissioner Ephyro Luis B. Amatong ended his eight years of service in the SEC. “We are excited to work with Commissioner Fernandez, whose extensive experience...
The Securities and Exchange Commission (SEC) has revoked the registration and secured conviction of several illegal lending companies as part of its sustained crackdown against illegal and abusive lenders, the Department of Finance (DOF) said. In a statement, the DOF cited an SEC report that showed...
The local stock market is seen to remain volatile this week due to the ongoing invasion of Ukraine by Russia and its impact on oil prices and inflation. “We may still see a turbulent week ahead for the local market amid the lingering uncertainties on the Russia - Ukraine conflict,” said...
The local stock market continued to recover lost ground as share prices rose across Asia. The main index jumped 96.0 points or 1.37 percent to close at 7,122.45 on Thursday, March 17, as Banks led the charge while the Mining and oil counter retreated. Volume was relatively stable at 1.43 billion...
Lingering concerns over higher inflation pushed up the interest rate for long-term Philippine debt papers. At the Bureau of the Treasury auction on Tuesday, March 15, the yield for the reissued five-year Treasury bond went up to 4.669 percent from 4.012 percent last Jan. 11 when the IOU was last...
The PSEi plunged to a six-month low as the impact of Russia’s invasion of Ukraine is seem to affect the growth of Asian economies. The main index fell 295.24 points or 4.15 percent to close at 6,816.95, it’s lowest since Sept. 1, 2021 when it ended at 6,785.94. The Services sector led the drop...
The Securities and Exchange Commission (SEC) is calling on corporations to allow shareholders or members to participate in meetings virtually to encourage greater stakeholder involvement in their governance. The Commission reiterated the provisions of the Revised Corporation Code of the Philippines...
The local stock market will continue to be influenced this week by the ongoing invasion of Ukraine as well as its impact on inflation and, consequently, interest rates. “The Russia - Ukraine war and its impact on the global economy, primarily on oil prices, is still expected to weigh on...
