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MANILA - The Securities and Exchange Commission (SEC) has ordered Astrazion Noble Task Community Foundation, Astrazion Global Holdings Philippines Inc., and Astrazion International to stop offering their supposed digital currency through an illegal multi-level marketing platform. In an order dated May 12, the SEC en banc directed the Astrazion Group to immediately cease and desist from engaging in the unlawful/unauthorized solicitation, offer and/or sale of securities until it has filed the requisite registration statement and secured the necessary approval from the SEC. The Astrazion Group, i...

The decision of the Securities and Exchange Commission (SEC) to reverse its earlier decision that revoked the license and registration of Venture Securities Inc. as broker dealer is viewed by most stockbrokers as a vindication of their profession. In a chat over lunch, Eagle Securities President Joey Roxas and company…

The Philippine Stock Exchange (PSE) has slapped billionaire Dennis Uy’s DITO CME Holdings and China Bank Capital Corp. with the maximum penalty allowed under its charter for canceling DITO’s P8 billion stock rights offering (SRO) in January. DITO CME is the holding company of Dito Telecommunity, which is a joint venture…

While I’m glad the PSE has finally taken action against DITO for what it did, I’m frustrated that the PSE was not more transparent about the sanctions themselves.

Regulators have penalized DITO CME Holdings Corp., the country’s third telecommunications company led by Davao businessman Dennis Uy, for the cancellation of its P8-billion stock rights offer (SRO) days before its listing on the Philippine Stock Exchange (PSE) in January. The PSE has also penalized its underwriter, China Bank Capital…