The Securities and Exchange Commission has convinced technology giant Google to adopt a more stringent approval process for online lending apps in the Philippines as part of the agency’s efforts to tackle illegal and abusive lending practices. In a statement, the SEC said that, effective May 11,...
The Securities and Exchange Commission (SEC) has revoked the corporate registrations of ScentkoWorld Corporation and Brendahl Cruz Holdings, Inc. for illegally soliciting investments from the public through a “buy and earn” program. The SEC Enforcement and Investor Protection Department (EIPD)...
Securities and Exchange Commission (SEC) Associate Commissioner Commissioner Javey Paul D. Francisco has been reappointed and is expected to continue to steer the agency’s initiatives toward improving the ease of doing business in the country. First appointed as SEC commissioner in 2018,...
Philex Mining Corporation is postponing its planned P3.15 billion stock public offering “given the current market volatility to help ensure its success.” In a disclosure to the Philippine Stock Exchange, the firm said it had agreed with issue manager and lead underwriter for the offer BDO...
The Securities and Exchange Commission (SEC) was able to maintain the ISO 9001:2015 Certification of its quality management system covering all core services across its main and extension offices. “Once again, the SEC has demonstrated its global competitiveness as the premier investor champion...
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...
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) 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 issued the standard procedures for the voluntary and involuntary dissolution of corporations which took effect Wednesday, March 9. The Commission released SEC Memorandum Circular No. 5, Series of 2022, providing the Guidelines on Corporate...
The Securities and Exchange Commission (SEC) has ordered PawisngPinoy Online Investment to stop its illegal solicitation of investments from the public through a non-existent product distribution, real estate, and jewelry business. In an order, the Commission En Banc directed PawisngPinoy to...
The Securities and Exchange Commission (SEC) has tightened good governance rules by barring from sitting in a corporation’s board those convicted for offenses punishable by imprisonment of over six years. In a statement, the SEC said this new rue is in line with its commitment to ensure good...
The Securities and Exchange Commission (SEC) has issued a memorandum circular that puts a cap on interest rates and other fees imposed by lending and financing companies, and their online lending platforms (OLPs). SEC Memorandum Circular No. 3, Series of 2022 (SEC MC 3), which will take effect on...
