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The last time I checked, regulators have yet to come out with its report on the P48-billion budget overrun of telco giant PLDT, although initial findings say there are no indications of fraudulent transactions.
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…
Published May 24, 2021, 3:53 PM After more than 20 years, the Securities and Exchange Commission (SEC) has finally secured the conviction of a stock broker involved the manipulation of the price of Best World Resources Corporation (BW) that started in October 1998. In a statement, the SEC said it has secured a fifth conviction under the Securities Regulation Code (SRC) after a regional trial court ruled that the president of a brokerage manipulated the market in illegal trade transactions involving stocks of then listed firm BW. In a decision dated May 7, the Pasig City Regional Trial C...
Broker faces 14-years behind bars, P1-M fine for market manipulation May 24, 2021 | 12:07 am By Valmonte THE Pasig City Regional Trial Court Branch 67 has sentenced broker Johnny S. Yap, former president, sales manager, and director of Solar Securities, Inc., to 14 years of imprisonment and was ordered to pay P1 million for a “reprehensible” market manipulation. The decision came 22 years after the Securities and Exchange Commission filed a complaint involving the trading of the stocks of the then-listed company Best World Resources Corp. (BW). “The SEC filed a criminal complaint again...