MANILA -The Securities and Exchange Commission (SEC) wants stronger capabilities to combat financial crimes such as market manipulation, insider trading and even cryptocurrency-related scams. The corporate regulator recently held a workshop with the US SEC and Asian Development Bank in its Makati City headquarters to beef up its enforcement training and capabilities. “Scammers are becoming more advanced and sophisticated in their techniques as new technologies arise. As such, the SEC must constantly improve its investigation and enforcement c ...
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with business process outsourcing companies that provide accounting and related services to companies based in the US and elsewhere in the world. Either way it goes, these CPAs are assured...
With the country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), joining the call for the phaseout of Philippine offshore gaming operations (Pogo), albeit subject to certain conditions, the noose around this controversial commercial activity has further tightened. The PCCI said Pogos posed social threats as they have become a breeding ground for crime scams and human rights violations. It, however, made a distinction between legal and illegal Pogo operations and called on authorities to crack down on t ...
The Securities and Exchange Commission (SEC) has agreed with the Bureau of Internal Revenue (BIR) to share data that would help improve corporate tax collection. Under the data sharing agreement signed by the two agencies on Wednesday, the SEC will provide supporting documents for tax assessments, while the BIR will provide the tax identification number verification for better identity validation. “The partnership will support the implementation of the government’s 2024 National Tax Campaign, which aims to generate funds through timely paym ...
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MANILA, Philippines– In light of the recent spike in global rice prices, calls for increased food security collaboration among the Association of Southeast Asian Nations (Asean) and its East Asian partners have gained momentum. At the forefront is a proposal to amplify the Asean Plus Three Emergency Rice Reserve (APTERR), a significant move as countries grapple with the consequences of food shortages and escalating costs. President Ferdinand R. Marcos, Jr., during his speech at the 26th Asean-Plus Three Summit in Indonesia, urged the grouping ...
The first time “insider trading”—which is now the subject of an ongoing Senate inquiry with Development Bank of the Philippines and businessman Roberto Ongpin at the crosshair—caught the public eye was in 1999. It will be recalled that in 1998, BW Gaming and Entertainment Corp., headed by businessman Dante Tan, won the exclusive contract to operate a nationwide online bingo franchise and the Quick Pick-2 gambling game, which is similar to the illegal numbers game called jueteng. ...
For reasons of external and internal security, some private companies install closed-circuit television (CCTV) or camera surveillance systems in their premises to record images of persons or information relating to them, including the area within its coverage. With an integrated monitoring system, CCTVs are able to assist security personnel in the performance of their duties and responsibilities. Although the costs of their acquisition and operation is on the high side, over time they pay for themselves in terms of reduced security staff. ...
MANILA, Philippines — The state-run pension fund Social Security System (SSS) has a new head in the person of its current commissioner Michael Regino, who hails from Mindanao and was a former