Page 20 - Securities Regulation Code News Today

The Securities and Exchange Commission (SEC) has released its proposed rules governing the disqualification of directors, trustees, and officers of corporations as part of its efforts to promote good corporate governance. The SEC released the draft Memorandum Circular on the Disqualifications of Directors, Trustees and Officers of Corporations and the…

The Securities and Exchange Commission (SEC) is coming out with rules governing the disqualification of directors, trustees, and officers of corporations, as part of its efforts to promote good corporate governance. The Commission has released for public comment the draft Memorandum Circular on the

Part Two The National Internal Revenue Code, in Section 232, requires the annual audit by a Certified Public Accountant, who is an external auditor, of the books of accounts and financial statements of a business enterprise. This audit is required if the annual gross receipts or revenues of the business…

In one Senate committee hearing on investment scams, then Senator Juan Ponce Enrile asked: “What is now the prevailing Blue Sky Law?” Very few understood the question. In general, blue sky laws are enacted by governments to prevent securities dealers from committing fraud through the sale of fake se

Supreme Court (SC) The Supreme Court (SC) has stressed that disputes between and among members of homeowners’ associations in villages are within the jurisdiction of the Housing and Land Use Regulatory Board (HLURB) and not the regional trial court (RTC). The SC said: “Intra-corporate controve

The Securities and Exchange Commission (SEC) has warned the public against investing in Double M Global Trading and Axiecrowd Asia, which operate online schemes that promise to grow investments by as much as four times in just two weeks. In an advisory, the SEC’s Enforcement and Investor Protection department said…

The Department of Justice (DOJ) has affirmed the findings of the Securities and Exchange Commission (SEC) by recommending the filing of criminal charges against Organico Agribusiness Ventures Corporation and its officers for unauthorized solicitation of investments. In a resolution on September 3,

The Department of Justice (DOJ) has recommended the filing of criminal charges against Organico Agribusiness Ventures Corp. and its officers for unauthorized solicitation of investments from the public. The DOJ September 3 resolution, which affirmed the previous findings of the Securities and Exchange Commission, state prosecutors found probable cause to…

The Energy Regulatory Commission (ERC) is seeking guidance from the Securities and Exchange Commission (SEC) on the appropriate modality in the mandated initial public offering (IPO) of power generation companies (GenCos). “We are in consultation with SEC for us to be able to come up with a more

DAVAO CITY—Police from Carmen municipality of Davao del Norte arrested on Thursday the head of an investment scheme,  which the Securities and Exchange Commission has flagged down as illegal. On Thursday, Col. Frederick Deles led a team from Carmen police in arresting Arnel T. Aratia in RPJ Village, Feeder Road…