The Securities and Exchange Commission (SEC) has ordered Royal O’ Consultancy Services OPC, Royal O’ International Import and Export OPC, and their affiliate companies to stop soliciting investments from the public under a scheme disguised as an investment platform for alleged gambling, medical supplies, and export firms.
In an order dated April 13, the SEC Corporate Governance and Finance Department (CGFD) found Familyhan liable for three violations of SEC Memorandum Circular No. 18, Series of 2019 (SEC MC 18), which provides for the Prohibition on Unfair Debt Collection Practices of Financing Companies and Lending Companies.
The Securities and Exchange Commission (SEC) has revoked the Certificate of Authority (CA) of KingABC Lending Corporation, which runs online lending platforms Pondo Loan, Start Loan, Green Loan, and Loan Club, to operate as a lending company for its unfair debt collection practices.
A special hearing panel (SHP) at the Securities and Exchange Commission (SEC) has revoked the license of Venture Securities, Inc. (VSI) and imposed penalties totaling P32 million against the brokerage and its officers for the fraudulent transfer of client shares from R&L Investments, Inc.