Robinsons realty firm plans P26.7B IPO for its REIT

Doris Dumlao-Abadilla - Reporter / @philbizwatcher 05/27/2021

MANILA, Philippines—Gokongwei-led Robinsons Land Corp. (RLC) plans to raise as much as P26.7 billion from the initial public offering of a real estate investment trust (REIT) that it will sponsor. According to a registration statement filed with…

CA affirms revocation of Ponzi firm’s registration with SEC

Carmelito Francisco 04/11/2021

DAVAO CITY—The Court of Appeals (CA) has upheld the decision of the Securities and Exchange Commission (SEC) to revoke the corporate registration of a company that was found to have defrauded thousands of people across the country.…

SEC extends deadline for GIS submission

Doris C. Bongcac 04/06/2021

MANDUE CITY, Cebu -The Securities and Exchange Commission (SEC) has announced the extension of the deadline for the submission of the General Information Sheet (GIS) to allow corporations enough time to cope with the implementation of quarantine…

Soon, firms can finally digitally file financial reports

Doris Dumalao-Abadilla 02/22/2021

The Securities and Exchange Commission (SEC) will soon require businesses to file their audited financial statements and other annual reportorial requirements through a new online submission tool (OST). This is to further limit in-person interactions especially at…

400% increase in scam, fraud entities

Morexette Marie B. Erram 11/08/2020

CEBU CITY, Philippines — Authorities remind Cebuanos once again to be wary of investment offerings while quarantine restrictions are still in place. This after the Securities and Exchange Commission (SEC) posted a 400 percent increase in the…

SEC ‘looking forward’ to progress of KAPA cases with scheme leader’s arrest

Alven Marie A. Timtim 07/25/2020

CEBU CITY, Philippines — The Securities and Exchange Commission (SEC) is “looking forward” to the progress of the pending cases against the Kapa-Community Ministry International (KAPA) after the recent arrest of its leader Joel Apolinario in Surigao…

Corporate debt funds eyed to prevent financial crunch amid COVID-19 crisis

Doris Dumlao-Abadilla - Reporter / @philbizwatcher 07/09/2020

The Securities and Exchange Commission seeks to help prevent the coronavirus (COVID-19) pandemic from spawning local financial crunch by soon allowing the creation of new investment vehicles called corporate debt funds (CDFs) that will primarily invest in…

SEC identifies more quick-rich schemes

Irene R. Sino Cruz 05/03/2020

CEBU CITY, Philippines —The Securities and Exchange Commission (SEC) has again found several quick-rich schemes that victimize the public. Lawyer Alma Marie Dalena, SEC Cebu Extension Office officer-in-charge, encouraged investors to think twice before investing their money…

SEC orders shutdown of 4 online lending ventures

Doris Dumlao-Abadilla 04/24/2020

The Securities and Exchange Commission (SEC) has ordered the shutdown of four online lending platforms that had been operating without the proper permits, imposing “unreasonable” terms and using “abusive” practices. The SEC issued the cease-and-desist order (CDO)…

Amid coronavirus 2019 crisis, unauthorized investment schemes persist

Irene R. Sino Cruz 04/23/2020

  CEBU CITY, Philippines—Unauthorized investment schemes continue to occur even during the coronavirus disease 2019 outbreak to prey on the public, the Securities and Exchange Commission (SEC) said in an emailed press release. The commission has been…

SEC probes financing, lending companies for alleged non-compliance of 30-day grace period for loans

Irene R. Sino Cruz 04/20/2020

  CEBU CITY, Philippines—Some financing companies (FCs) and lending companies (LCs) are now facing investigation from the Securities and Exchange Commission (SEC) for allegedly refusing to comply with the mandatory grace period on loan payments that fall…

SEC now accepts online registration for corporations with less than five incorporators

Irene R. Sino Cruz 04/20/2020

CEBU CITY, Philippines—The Securities and Exchange Commission (SEC) has made it easier for corporations with less than five incorporators to apply for registration through its online system. “Before the interim online registration was rolled out, we would…

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