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SunStar + April 10, 2021 THE Court of Appeals (CA) has upheld the order of the Securities and Exchange Commission (SEC) revoking the certificate of incorporation of Kapa Community Minis try International for its fraudulent investment taking activities. In an 18 page decision dated March 11, 2021, the CA Special 16th Division held that the SEC validly acquired exclusive jurisdiction over the petition for the revocation of Kapa’s incorporation, heard the petition with due process and subsequently rendered the assailed decision upon solid ground and substantial evidence. The Commi...

Corporate Governance reforms under the Revised Corporation Code BusinessWorld 2 hrs ago © Provided by BusinessWorld The promulgation into law of the Revised Corporation Code of the Philippines saw the placing into statutory language, and therefore into a more permanent framework, many of the corporate governance principles and best-practices adopted by the Securities and Exchange Commission (SEC) in the area of publicly listed corporations (PLCs). It should be noted that although the Revised Corporation Code (RCC) has provisions referring to “good corporate governance,” it has not tak...

The Securities and Exchange Commission (SEC) announced the revocation of the corporate registration of Pigdeals International Holdings Inc. for unauthorized investment taking activities resembling a Ponzi scheme. The SEC Enforcement and Investor Protection Department (EIPD) issued the order afte

March 8, 2021 | 12:08 am Advertisement AAA MARKET regulators have teamed up to look into the case of Abra Mining and Industrial Corp., which the stock exchange earlier found to be selling shares beyond the number listed on the local bourse. “The Securities and Exchange Commission (SEC), The Philippine Stock Exchange, Inc. (PSE) and Philippine Depository & Trust Corp. (PDTC) are working closely together to investigate the trading of unissued and unlisted shares of Abra Mining and Industrial Corporation (AR), and to pursue the necessary actions to protect investors,” the...

BusinessWorld February 22, 2021 | 6:51 pm By Cesar L. Villanueva The most profound effects of the Revised Corporation Code in the pursuit of corporate governance (CG) reforms in the private corporate sector may be grouped into three areas, namely: First, the granting of statutory foundation to the CG principles and best-practices championed by the Securities and Exchange Commission (SEC) in the private corporate sector, highlighted by the formal recognition of “corporations vested with public interest.” Second, the reconstitution of the SEC as the primary regulatory agenc...