The Securities and Exchange Commission (SEC) has expanded its list of industries that can avail of its one-day registration process as part of the Commission’s drive to make company registration faster and easier. The SEC said registrations have surged with the expansion of the list of industries...
The Securities and Exchange Commission (SEC) is “closely monitoring” the arrest of Global Ferronickel Holdings Inc. (FNI) Chairman Joseph C. Sy over allegations of misrepresentation of his citizenship. “Given Mr. Sy’s role as chairman of a publicly listed company, the SEC is closely...
The Securities and Exchange Commission (SEC) has ordered seven online platforms to stop lending-related operations since they are not registered with the Commission. In separate cease and desist orders (CDOs) dated Aug. 15, the SEC Financing and Lending Companies Department (FinLend) directed Cash...
Villar Land Holdings Corp. maintained that its delay in submitting financial reports was caused by its external auditor’s varying requests for additional audit procedures regarding the valuation of properties acquired for Villar City. The firm confirmed in a statement on Thursday, Aug. 21, that...
The Securities and Exchange Commission (SEC) has fined Villar Land Holding Corp. and its officers a total of ₱12 million after denying the company’s request for an extension to file required financial reports, citing repeated failure to meet deadlines. The SEC’s investigation was prompted by...
The Philippine Stock Exchange has implemented new rules which give it the discretion to cancel trading in the event of natural disasters or terrorist attacks as well as during glitches in the bourse’s trading system. In a memorandum, PSE President and CEO Ramon S. Monzon said these rules have...
The Securities and Exchange Commission (SEC) is planning to issue new rules that will no longer allow the extension of terms of independent directors of publicly listed companies beyond the nine-year limit but will also give them security of tenure during those nine years so they can speak freely...
The Securities and Exchange Commission (SEC) has drafted guidelines intended to clarify confusing rules on how companies can be exempted from having to register shares prior to their issuance. In a statement, the SEC said the draft rules seek to clarify exempt transactions under the Securities...
Securities and Exchange Commission Chairman Francis Ed. Lim urged the country’s leading financial executives to demonstrate ethical leadership, as the Philippine capital market has lagged behind its regional counterparts due to a lack of integrity. “Integrity is the invisible currency of our...
The Securities and Exchange Commission (SEC) has drafted guidelines for the adoption of Philippine Financial Reporting Standards (PFRS) in the preparation of sustainability reports by publicly listed companies (PLCs) and large non-listed (LNL) entities. In a notice dated July 30, the SEC Corporate...
The Securities and Exchange Commission has started a fact-finding exercise into the allegations over the surge in valuation of the vast tracts of prime property owned by Villar Land Holdings corporation, and the company said it welcomes the probe. In a media interview, SEC Chairman Francis Lim...
The Securities and Exchange Commission (SEC) has ordered Fuse Lending Inc. to stop its unlicensed lending operations while suspending Sumulong Financing for failing to get approval for its business plan. The Commission said it has issued a cease and desist order (CDO) against Fuse Lending for its...
