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News and Events

SEC Proposes Rules that Set Stage for Extensive Regulation of Initial Coin Offerings

While some tokens may be exempt from registration, all offerings must go through assessment by regulators

The Securities and Exchange Commission (SEC) has released a memorandum circular detailing its proposed rules on initial coin offerings (ICOs) of Philippine companies or targeted at Filipinos.In the circular titled “Rules on Initial Coin Offerings,” the SEC defines ICOs as “distributed ledger ...

by Lorenzo Kyle Subido  | August 02, 2018 06:00:00
News and Events

SEC Approves Php17.55-B IPO of Del Monte Philippines

Operator of world’s largest pineapple plantation needs to clear the Philippine Stock Exchange next

The Securities and Exchange Commission (SEC) has approved the application of Del Monte Philippines Inc. (DMPI), the Philippine subsidiary of multinational food and beverage manufacturer Del Monte Pacific Ltd. (DMPL), to conduct an initial public offering (IPO).In a disclosure to the Philippine ...

by Elyssa Christine Lopez  | May 25, 2018 06:00:00
News and Events

‘Cloud Mining’ Investment Platforms Promise Hefty Returns But SEC Warns Some May be Scams

The securities regulator says these are unregistered investments that expose investors to fraud risks

The Securities and Exchange Commission (SEC) warned the public against investing in cloud mining schemes in an advisory released on Monday, April 10. The commission said any transaction related to cloud mining should be duly registered with the agency, and companies engaging ...

by Pauline Macaraeg  | April 16, 2018 09:00:00
News and Events

Online Media Startup Rappler’s Parent Firm Charged With Tax Evasion

Case arose from allegedly unpaid taxes over purchase of shares from Rappler Inc.

The Bureau of Internal Revenue (BIR) filed on March 8, Thursday, a criminal complaint against Rappler Holdings Corp. (RHC), the parent firm of beleaguered online media startup Rappler Inc., for allegedly evading income taxes and value added taxes (VAT) in 2015, the ...

by Entrepreneur Staff  | March 08, 2018 05:00:00
News and Events

Why is the SEC Blocking Joseph Calata From Selling Tokens for his HK-Based Cryptocurrency Startup to PH Investors?

Corporate regulator says it’s not banning initial coins offering despite earlier warnings

The Securities and Exchange Commission (SEC) has issued a cease and desist order (CDO) against four companies owned by businessman Joseph Calata, the chairman of formerly listed firm Calata Corp. The order aims to block them from selling cryptocurrencies or tokens in ...

by Lorenzo Kyle Subido  | January 29, 2018 04:00:00
News and Events

Former Stock Exchange Chief Assails SEC Decision on Rappler as ‘Anti-Business’

Lawyer Francis Lim says agency’s harsh penalty is inconsistent with its mandate to protect investors

A former president of the Philippine Stock Exchange (PSE) has branded as “anti-business” and “anti-investor” the Securities and Exchange Commission (SEC)’s recent decision revoking the incorporation of online media startup Rappler Inc. for allegedly violating legal and constitutional prohibitions against foreign ownership ...

by Entrepreneur Staff  | January 17, 2018 03:00:00
News and Events

SEC Revokes Incorporation of PH’s Pioneering Online Media Startup Rappler

Agency alleges company violated the Constitution’s prohibition of foreign ownership and management of the mass media

The Securities and Exchange Commission (SEC) has revoked the certificate of incorporation of pioneering online media startup Rappler Inc. for allegedly violating the Philippine constitution’s prohibition against foreign ownership and management of any mass media entity.In an order dated January 11, 2018, ...

by Roel Landingin and Elyssa Christine Lopez  | January 15, 2018 09:00:00
News and Events

Don't be a Victim of Get-Rich-Quick Scams Using Bitcoin and Other Virtual Currencies: Tips from the BSP and SEC

Before giving your money to a cryptocurrency exchange, ask to see its license from the central bank

The recent surge in the value of Bitcoin, which rose almost 20-fold from only $985 apiece at the start of 2017 to a peak of $19,343 last December 16, has attracted the attention of many Filipinos as indicated by the number of ...

by Pauline Macaraeg  | January 10, 2018 04:00:00
News and Events

Is Php10M a Realistic Annual Cap on Crowd-Sourced Loans or Equity? Make Sure SEC Hears What You Think

The corporate regulator is seeking public comments on its proposed rules on crowdfunding

The Securities and Exchange Commission (SEC) is seeking public comments on proposed rules and regulations on crowdfunding activities that it plans to adopt in response to the growing number of startups using the innovative financing option through internet platforms.In a statement released ...

by Elyssa Christine Lopez  | November 28, 2017 10:00:00
News and Events

Aquino admin failed to fight corruption in 2016 ”" SWS business survey

The former president gets low anti-corruption marks, but satisfactory in promoting business

 A business survey that had rated the previous Aquino administration with high marks in the fight against corruption noted a drop in the past administration’s efforts this year.Businessmen who participated in the Social Weather Station‘s recent 2016 Survey of Enterprises on Corruption ...

by Joseph Nacino  | October 07, 2016 05:00:00
Startup Tips

Financial Adviser: The 3 common mistakes every startup business must avoid

Or make it more costly for you to start your dream venture.

Q: I have recently retired from the corporate world and was planning to start a small business. Hopefully, the income from the business can help supplement my current income from retirement.  What are the things that I need to watch out for ...

by Henry C. Ong  | June 28, 2016 08:00:00
News and Events

Kick start your day, April 6: Who are the Filipinos on Panama Papers leak?

Plus, more provinces to be hit by El Niño, while SEC files cases against Ponzi schemes.

Imee Marcos, JV Ejercito in Panama Papers leak Ilocos Norte Governor Imee Marcos and Senator Joseph Victor "JV" Estrada were among the people linked to offshore financial dealings, as revealed in the latest investigation of the International Consortium of Investigative Journalists (ICIJ) released ...

by Entrepreneur Staff  | April 06, 2016 08:00:00
Startup Tips

What you should know about ‘get-rich-quick’ schemes

SEC Chairperson Teresita Herbosa urges the public to be more vigilant against investment scams, and what they can do in case they got involved with such.

Teresita Herbosa is the chairperson of the Securities and Exchange Commission (SEC), tasked to implement two major laws, the Corporation Code (where they act as the registrar and monitor all corporations and partnerships), and the Securities Regulation Code (SRC), where they regulate securities and capital markets. According ...

by Josiah Go  | March 30, 2016 09:00:00
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