Page 27 - Revised Corporation Code News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SEC Chairperson Emilio B. Aquino (Photo credit: https://www.sec.gov.ph/commissioners/) “The newly issued rules empower minority shareholders to better protect and advance their interests, as well as help listed firms have a wider perspective and be more inclusive in their decision-making process,” SEC Chairperson Emilio B. Aquino said. He added that, “The greater protection afforded to minority shareholders should encourage increased participation in the stock market and, in turn, further deepen ourcapital market to support business expansions, jobs creation and overall economic growth...

Published April 23, 2021, 6:00 AM The Securities and Exchange Commission (SEC) has canceled the corporate registration of Bill Ford VIP Trading, Inc. which has been found to have engaged in unauthorized investment activities resembling a Ponzi scheme.  In an order, the SEC Enforcement and Investor Protection Department (EIPD) found the group headed by a certain Billy Ford Delos Santos Andrada to have engaged in investment-taking activities by selling or offering securities to the public without the necessary secondary license from the Commission. In doing so, BillFord Trading violated Sectio...

The Court of Appeals (CA) upheld the order of the Securities and Exchange Commission (SEC) revoking the certificate of incorporation of Kapa-Community Ministry International for its fraudulent investment-taking activities.  The CA Special 16th Division held that the SEC validly acquired exclu

Philippines: Financial Institutions Strategic Transfer Act signed into law On 16 February 2021, President Rodrigo Duterte signed Republic Act No. 11523 or the Financial Institutions Strategic Transfer Act. The FIST Act allows financial institutions, including the Bangko Sentral ng Pilipinas, banks, financing companies, investment houses, lending companies, insurance companies, government financial institutions, government-owned or -controlled corporations, and other institutions licensed by the BSP to perform quasi-banking functions and credit-granting activities, to offload non-performing lo...

The Securities and Exchange Commission (SEC) will allow the submission of electronically signed annual financial statements (AFS) by corporations enrolled in the newly launched Online Submission Tool (OST). This is while Metro Manila and nearby provinces are under enhanced community quarantin