Tag Archives: Securities & Exchange Commission

One month before coding starts, SEC Davao reminds firms to enroll, submit reports early

DAVAO CITY — The Securities and Exchange Commission – Davao Extension Office (SEC-DEO) has reminded corporations to enroll in the SEC Online Submission Tool (OST) as soon as possible to ensure a seamless transition to the online submission of reports. The SEC-DEO reiterated the reminder as the Commission now implements the mandatory enrollment and submission of corporations in the OST, which

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SEC CANCELS ECO HATCHERY’S CORPORATE REGISTRATION OVER UNAUTHORIZED INVESTMENT SCHEME

[SEC PRESS RELEASE] The Securities and Exchange Commission (SEC) has revoked the corporate registration of Eco Hatchery and Trading Corporation for soliciting investments from the public through a Ponzi scheme. The SEC Enforcement and Investor Protection Department (EIPD) issued the order on April 23 after finding that Eco Hatchery has been offering and soliciting investments without the necessary secondary license from the Commission. In

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SEC REVOKES BILL FORD VIP TRADING’S INCORPORATION FOR ILLEGAL INVESTMENT SCHEME

The Securities and Exchange Commission (SEC) has canceled the corporate registration of Bill Ford VIP Trading, Inc. for engaging in unauthorized investment activities resembling a Ponzi scheme. In an order issued April 14, the SEC Enforcement and Investor Protection Department (EIPD) found the group headed by a certain Billy Ford Delos Santos Andrada to have engaged in investment-taking activities by

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SEC LAUNCHES NEW COMPANY REGISTRATION SYSTEM

[SEC PRESS RELEASE] The Securities and Exchange Commission (SEC) has launched the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to facilitate faster and easier registration of corporations in the country Starting April 19, the Commission will accept and process under eSPARC all applications for registration of one person corporations (OPCs) and both stock and nonstock domestic corporations

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SEC allows e-signatures for financial statements submitted through OST

[SEC PRESS RELEASE] The Securities and Exchange Commission (SEC) will allow corporations enrolled in the newly launched Online Submission Tool (OST) to submit electronically signed annual financial statements (AFS) starting March 29, when the ECQ period began in the National Capital Region, Bulacan, Cavite, Laguna, and Rizal, until further notice. In a notice issued on April 8, the Commission announced

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COURT OF APPEALS AFFIRMS SEC REVOCATION OF KAPA’S CORPORATE REGISTRATION

The Court of Appeals (CA) has upheld the order of the Securities and Exchange Commission (SEC) revoking the certificate of incorporation of Kapa-Community Ministry International for its fraudulent investment-taking activities. In an 18-page decision dated March 11, the CA Special 16th Division held that the SEC validly acquired exclusive jurisdiction over the petition for the revocation of KAPA’s incorporation, heard the

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SEC TO LAUNCH NEW COMPANY REGISTRATION SYSTEM

The Securities and Exchange Commission (SEC) is migrating to a new company registration portal by April 19 to provide the public with a more secure, transparent, and efficient online facility for easy company registration. Called the Electronic Simplified Processing of Application for Registration of Company (eSPARC), the web-based system will accept new applications for registration of One Person Corporations (OPC),

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SEC EXTENDS DEADLINE FOR GIS SUBMISSION

The Securities and Exchange Commission (SEC) has extended the deadline for the submission of the General Information Sheet (GIS) to allow corporations to cope with the new rounds of enhanced community quarantine (ECQ) and the transition to an online submission system. In a notice issued on March 31, the Commission announced that all stock and nonstock corporations shall have 90

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