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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