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…

SEC warns about unauthorized investment schemes

Irene R. Sino Cruz 04/17/2020

CEBU CITY, Philippines—Those planning to go into reselling should be cautious in dealing with individuals or groups pitching reseller business partnerships as a front for their unauthorized investment schemes. The Securities and Exchange Commission (SEC) issued this…

SEC contributes P2B to fight against coronavirus 2019 pandemic

Irene R. Sino Cruz 04/08/2020

CEBU CITY, Philippines—In accordance with the government’s response to the coronavirus 2019 pandemic, the Securities and Exchange Commission (SEC) has transferred P2 billion from its accounts to the Bureau of Treasury. According to an emailed press release…

SEC bares 14 groups engage in scams after national emergency declaration

Irene R. Sino Cruz 04/05/2020

  CEBU CITY, Philippines —While authorities are focused on stopping the spread of the coronavirus disease 2019 (COVID-19), several individuals and groups have been enticing the public to invest in fraudulent activities. In an emailed press release,…

SEC warns public against investing in Paya cryptocurrency

Irene R. Sino Cruz 03/31/2020

CEBU CITY, Philippines—The Securities and Exchange Commission (SEC) has cautioned the public against investing or promoting Paya, a cryptocurrency offered by Payasian Pte. Ltd. Corp. In an emailed press release, SEC bared that it has issued a…

SEC urges lending, financing companies to extend debt relief to borrowers

Irene R. Sino Cruz 03/24/2020

CEBU CITY—The Securities and Exchange Commission (SEC) urges all lending and financing companies to implement debt relief measures to their borrowers. The commission came up with this suggestion in a notice it issued on March 23 that…

SEC to implement measures to mitigate impact of COVID-19 outbreak on corporations

Irene R. Sino Cruz 03/12/2020

CEBU CITY, Philippines—The Securities and Exchange Commission (SEC) is finalizing measures to help mitigate impact of the coronavirus outbreak on corporations. “In line with the President’s declaration of a state of public health emergency, the Commission will…

‘Clear and existing danger’ rule in seafarer’s dismissal cases

ATTY. DENNIS R. GORECHO 03/03/2020

It is only in the exceptional case of clear and existing danger to the safety of the crew or vessel that the required notices are dispensed with in cases of a seafarer’s dismissal. The untimely termination of…

SEC orders three more online lending firms to stop illegal operations

Irene R. Sino Cruz 01/23/2020

CEBU CITY–The Securities and Exchange Commission (SEC) has ordered three more online lending firms to stop their illegal operations. SEC, in an emailed press statement, said Peso Tree, Pesoalo and Pinoy Cash Loan did not have the…

SEC orders shutdown of 11 illegal lending apps

Doris Dumlao-Abadilla 09/23/2019

MANILA, Philippines — The Securities and Exchange Commission (SEC) has issued a cease and desist order against 11 more illegal mobile lending applications, heeding complaints of unreasonable and abusive lending and collection practices. The order, issued on…

Cebu City targets one day processing of business permits

Delta Dyrecka Letigio 07/25/2019

CEBU CITY, Philippines — The Cebu City government plans to further decrease the processing of business permits for establishments from its usual 30 days to a mere one day processing. Mayor Edgardo Labella said this would be…

Sinas: Police officers investing in Kapa may face administrative charges

Delta Dyrecka Letigio 06/25/2019

CEBU CITY, Philippines — Police Brigadier General Debold Sinas said that the policemen who would be proven to have invested in the Kapa Community Ministry Inc., may be facing administrative charges in violation to the memorandum circular…

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