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 ...
On the other hand, the CPAs who opt to stay in the Philippines have a choice between engaging in freelance work for select clients or tying up with business process outsourcing companies...
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 ...
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
MANILA, Philippines — The Securities and Exchange Commission (SEC) will proceed with blocking the website of cryptocurrency giant Binance, saying that it posed a threat to the security of the funds of Filipinos. The corporate watchdog on Monday said its Commission En Banc approved on March 12 the filing of a formal request with the National Telecommunications Commission (NTC) for assistance in blocking Binance’s website and other web pages it used. “The SEC has identified the aforementioned platform and concluded that the public’s conti ...
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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 ...
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. ...
The shortage of certified public accountants (CPA) in the country has been eased recently with the passing of 3,155 examinees in the May 2024 CPA licensure examination. A graduate from the University of the Cordilleras and another from the Polytechnic University of the Philippines-Manila (PUP) garnered the highest rating of 90.83 percent. Majority of this year’s top 10 passers are graduates of schools based in the provinces which include, among others, Binalbagan Catholic College, Liceo de Cagayan University, Kingfisher School of Business and ...