+ Follow FINANCING COMPANY ACT Tag
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 1348782
[Title] => An exercise of tax legislation?
[Summary] => The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 46-2014 clarifying the taxability of financial lease for purposes of Documentary Stamp Tax (DST).
[DatePublished] => 2014-07-22 00:00:00
[ColumnID] => 136078
[Focus] => 0
[AuthorID] => 1304250
[AuthorName] => Emma F. Quinto
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 1312923
[Title] => Probe on financing firms sought
[Summary] => A partylist legislator has called on his colleagues to probe into the malpractices of various financing companies in the country.
[DatePublished] => 2014-04-15 09:23:00
[ColumnID] => 0
[Focus] => 0
[AuthorID] => 1262583
[AuthorName] => Dennis Carcamo
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[2] => Array
(
[ArticleID] => 306782
[Title] => CA stops SEC from implementing rules
[Summary] => The Court of Appeals has issued an order preventing the Securities and Exchange Commission from implementing its rules on the creation and regulation of lending companies on the ground that the issuance was not derived from an existing law.
The order was in response to the petition filed by Easton Credit Corp., seeking to enjoin the SEC from exercising regulatory authority over lending investors since there is still no law regulating the same.
[DatePublished] => 2005-11-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 287138
[Title] => SEC issues permanent CDO vs Citicapital, Inc.
[Summary] => The Securities and Exchange Commission (SEC) has made permanent the cease-and-desist order (CDO) it issued against lending firm Citicapital, Inc. for selling securities to the public without prior registration.
This as the SEC denied Citicapital’s motion to lift the CDO for lack of merit. With the CDO made permanent, the officers, directors, agents, and representatives of Citicapital are prohibited from further soliciting investments from the public.
[DatePublished] => 2005-07-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 265841
[Title] => SEC may raise minimum paid-in capital for financing companies
[Summary] => The Securities and Exchange Commission (SEC) is studying the possibility of increasing the paid-in capitalization of financing companies to level the playing field.
The plan is intended to plug the loopholes in the capital requirements for financing companies as it was noted that most financing firms were successful in circumventing the rule by first establishing its head office in the provinces in order to pay a lower paid-up capital and eventually branching out in Metro Manila.
[DatePublished] => 2004-10-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 241486
[Title] => SEC to fine lending firms refusing to convert to financing companies
[Summary] => The Securities and Exchange Commission (SEC) will penalize lending institutions that still refuse to convert into financing companies as required under the Financing Company Act.
SEC Chairman Lilia R. Bautista said a mere 269 out of the total 10,885 registered lending investors have complied with the SEC order and have been granted licenses to operate as financing companies.
Two years ago, the lending investors were given until July last year to convert into financing companies or face sanctions from the SEC.
[DatePublished] => 2004-03-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 235865
[Title] => SEC renews warning against unauthorized fund solicitations
[Summary] => The Securities and Exchange Commission (SEC) has renewed its warning against illegal operations of financing and lending firms, advising the public against dealing with North East Luzon Farmer Workers Association (NELFWA).
In its notice, the SEC said the public should take the necessary precautions before entering into any transactions with NELFWA since the company is not authorized to grant loans.
The advisory was issued by the SEC following reports that the company has allegedly been extending loans and soliciting funds from the public.
[DatePublished] => 2004-01-21 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 220464
[Title] => SEC forms unit to review operations of 400 financing firms
[Summary] => The Securities and Exchange Commission (SEC) has created a committee to look into the operations of nearly 400 financing companies on concerns that some of these firms are engaged in fraudulent activities.
SEC Chairman Lilia R. Bautista said the Commission has expressed concern over the growing operations of non-bank lending institutions in the country following reports that a number of financing and lending companies have gone beyond their primary purpose.
[DatePublished] => 2003-09-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 210429
[Title] => SEC to penalize lending firms that refuse to convert
[Summary] => Asserting its regulatory powers, the Securities and Exchange Commission (SEC) will impose penalties on lending firms that still refuse to convert into financing companies as required under the Financing Company Act.
In a statement issued yesterday, the SEC said it will start the imposition of penalties on entities found in violation of the Financing Company Act even as it continues to accept applications for conversion of lending investors into financing companies.
[DatePublished] => 2003-06-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 210150
[Title] => SEC keen on converting lending investors into financing companies
[Summary] => The Securities and Exchange Commission (SEC) is urging the country’s over 10,000 lending investors to convert into financing companies ahead of the looming passage of a new bill that would regulate lending agencies.
SEC Chairman Lilia R. Bautista said the Commission will continue to accept applications for conversion of lending firms into financing companies in spite of the expiration of the deadline for the said conversion last June 6.
[DatePublished] => 2003-06-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
FINANCING COMPANY ACT
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 1348782
[Title] => An exercise of tax legislation?
[Summary] => The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 46-2014 clarifying the taxability of financial lease for purposes of Documentary Stamp Tax (DST).
[DatePublished] => 2014-07-22 00:00:00
[ColumnID] => 136078
[Focus] => 0
[AuthorID] => 1304250
[AuthorName] => Emma F. Quinto
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 1312923
[Title] => Probe on financing firms sought
[Summary] => A partylist legislator has called on his colleagues to probe into the malpractices of various financing companies in the country.
[DatePublished] => 2014-04-15 09:23:00
[ColumnID] => 0
[Focus] => 0
[AuthorID] => 1262583
[AuthorName] => Dennis Carcamo
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[2] => Array
(
[ArticleID] => 306782
[Title] => CA stops SEC from implementing rules
[Summary] => The Court of Appeals has issued an order preventing the Securities and Exchange Commission from implementing its rules on the creation and regulation of lending companies on the ground that the issuance was not derived from an existing law.
The order was in response to the petition filed by Easton Credit Corp., seeking to enjoin the SEC from exercising regulatory authority over lending investors since there is still no law regulating the same.
[DatePublished] => 2005-11-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 287138
[Title] => SEC issues permanent CDO vs Citicapital, Inc.
[Summary] => The Securities and Exchange Commission (SEC) has made permanent the cease-and-desist order (CDO) it issued against lending firm Citicapital, Inc. for selling securities to the public without prior registration.
This as the SEC denied Citicapital’s motion to lift the CDO for lack of merit. With the CDO made permanent, the officers, directors, agents, and representatives of Citicapital are prohibited from further soliciting investments from the public.
[DatePublished] => 2005-07-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 265841
[Title] => SEC may raise minimum paid-in capital for financing companies
[Summary] => The Securities and Exchange Commission (SEC) is studying the possibility of increasing the paid-in capitalization of financing companies to level the playing field.
The plan is intended to plug the loopholes in the capital requirements for financing companies as it was noted that most financing firms were successful in circumventing the rule by first establishing its head office in the provinces in order to pay a lower paid-up capital and eventually branching out in Metro Manila.
[DatePublished] => 2004-10-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 241486
[Title] => SEC to fine lending firms refusing to convert to financing companies
[Summary] => The Securities and Exchange Commission (SEC) will penalize lending institutions that still refuse to convert into financing companies as required under the Financing Company Act.
SEC Chairman Lilia R. Bautista said a mere 269 out of the total 10,885 registered lending investors have complied with the SEC order and have been granted licenses to operate as financing companies.
Two years ago, the lending investors were given until July last year to convert into financing companies or face sanctions from the SEC.
[DatePublished] => 2004-03-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 235865
[Title] => SEC renews warning against unauthorized fund solicitations
[Summary] => The Securities and Exchange Commission (SEC) has renewed its warning against illegal operations of financing and lending firms, advising the public against dealing with North East Luzon Farmer Workers Association (NELFWA).
In its notice, the SEC said the public should take the necessary precautions before entering into any transactions with NELFWA since the company is not authorized to grant loans.
The advisory was issued by the SEC following reports that the company has allegedly been extending loans and soliciting funds from the public.
[DatePublished] => 2004-01-21 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 220464
[Title] => SEC forms unit to review operations of 400 financing firms
[Summary] => The Securities and Exchange Commission (SEC) has created a committee to look into the operations of nearly 400 financing companies on concerns that some of these firms are engaged in fraudulent activities.
SEC Chairman Lilia R. Bautista said the Commission has expressed concern over the growing operations of non-bank lending institutions in the country following reports that a number of financing and lending companies have gone beyond their primary purpose.
[DatePublished] => 2003-09-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 210429
[Title] => SEC to penalize lending firms that refuse to convert
[Summary] => Asserting its regulatory powers, the Securities and Exchange Commission (SEC) will impose penalties on lending firms that still refuse to convert into financing companies as required under the Financing Company Act.
In a statement issued yesterday, the SEC said it will start the imposition of penalties on entities found in violation of the Financing Company Act even as it continues to accept applications for conversion of lending investors into financing companies.
[DatePublished] => 2003-06-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 210150
[Title] => SEC keen on converting lending investors into financing companies
[Summary] => The Securities and Exchange Commission (SEC) is urging the country’s over 10,000 lending investors to convert into financing companies ahead of the looming passage of a new bill that would regulate lending agencies.
SEC Chairman Lilia R. Bautista said the Commission will continue to accept applications for conversion of lending firms into financing companies in spite of the expiration of the deadline for the said conversion last June 6.
[DatePublished] => 2003-06-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
