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SEC pushes scam-free future, financially literate Filipinos

Published June 30, 2021, 9:26 AM Supreme Court “Fairness is what justice really is,” said the late former Justice Potter Stewart of the United States Supreme Court. Justice Stewart’s famous quote aptly described how the Philippine Supreme Court (SC) resolved the dispute between the Securities and Exchange Commission (SEC) and the Commission on Audit (COA) involving the use of the former’s retained earnings for the provident fund of its officials and employees. In 2010, SEC disbursed P19.72 million out of its retained earnings – derived from service fees and rebates – as its contr...

The Securities and Exchange Commission (SEC) has revoked the license of Ventures Securities, Inc. (VSI) and slapped P32 million in penalties against the brokerage and its officers for the fraudulent transfer of P700 million worth of client shares from R&L Investments, Inc. An SEC special he

The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill N

BusinessWorld June 11, 2021 | 12:01 am REUTERS THE Securities and Exchange Commission (SEC) is backing the amendment of the Republic Act No. 1405 or the Secrecy of Bank Deposits Law to further strengthen its efforts against dirty money, tax evasion, and other financial crimes. “Such provisions will lift a long-standing barrier to effective investigation and prosecution of financial crimes,” the corporate watchdog said. The amendments under House Bill No. 8991 will empower the SEC, the Bangko Sentral ng Pilipinas, the Philippine Deposit Insurance Corp., the Anti-Money Laund...