Page 25 - Securities Regulation Code News Today

Published December 15, 2020, 2:00 PM Get-rich-quick cryptocurrency scams have proliferated online, shamefully seeking to take advantage of netizens who are merely trying to augment their incomes during these difficult times. The Securities and Exchange Commission (SEC) investigated more than 30 of these online scams as of April 2020, all of which were deceiving victims into investing money into illegal investment operations with the promise of large and quick returns. Fraudulent cryptocurrency ...

Published December 15, 2020, 5:30 AM A Quezon City regional trial court has fined three persons a total of P2 million after being sued by the Securities and Exchange Commission (SEC) for illegally soliciting investments from the public.  In a decision dated 27 November 2020, the Quezon City Regional Trial Court Branch 90 found guilty beyond reasonable doubt Rolando R. Pascua, Jr., Celia Pascua, and Mary Jane P. Recto for violations of the Securities Regulation Code (SRC).  “Winning cases ag...

​ THE Securities and Exchange Commission (SEC) exempted Suntrust Home Developers, Inc.’s proposed issuance of P5.6 billion, 6% convertible bonds to Summit Ascent Investments Ltd. from registration requirements. Suntrust released on Monday a copy of the SEC letter dated Dec. 11, as signed by SEC Director Vicente Graciano P. Felizmenio, Jr. Mr. Felizmenio said the company is “exempt from the registration requirements under Section 8 of the Securities Regulation Code, for which the exemption...

Published December 13, 2020, 5:00 AM The Securities and Exchange Commission (SEC) announced that it has approved the securitization of P319.32 million worth of National Home Mortgage Finance Corporation’s (NHMFC) residential loan portfolio. In a statement, the SEC said the Commission En Banc approved the secondary mortgage institution’s securitization plan, subject to the fulfillment of certain conditions.  Under the securitization plan, NHMFC will sell a select pool of 1,291 long-term se...

December 11, 2020 | 7:47 pm Font Size AAA THE Securities and Exchange Commission (SEC) warned the public against investment schemes run by Cubebit 2.0 and Alisurvey Advertisement Marketing Services, which it said are not authorized to make such offers. In two separate advisories on its website, the SEC said the two entities are soliciting investment without licenses. The SEC said the Cubebit 2.0 scheme promises “ridiculous rates of return with little or no risk.” According to the r...

BusinessWorld December 11, 2020 | 7:45 pm The Securities and Exchange Commission (SEC) approved Friday a plan by the National Home Mortgage Finance Corp. (NHMFC) to securitize more than 1,200 residential loans, which will be held by a special purpose trust. Under the plan, NHMFC will sell 1,291 mortgages to BALAI Bonds 2 Special Purpose Trust (BALAI Bonds 2 SPT). The trust will then issue P319.32 million worth of asset-backed securities, comprising P150 million Class A senior no...

endIndex: Metro Manila (CNN Philippines) — Scammers haven’t taken a break— ­even amid the pandemic — and are giving cryptocurrency a bad name. In August 2020, the Department of Finance (DOF) revealed that the name of Secretary Carlos Dominguez III was used to promote a fake cryptocurrency auto-trading platform called “Bitcoin Revolution.” The DOF also learned that a platform called “Bitcoin Lifestyle” falsely claimed that President Rodrigo Duterte “is urging all citizens of ...