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                    [ArticleID] => 341839
                    [Title] => SEC okays revised rules on foundations
                    [Summary] => Foundations applying for registration with the Securities and Exchange Commission (SEC) are required to  deposit their funds in a bank regulated by the Bangko  Sentral ng Pilipinas (CBSP) and to submit a statement of  willingness allowing an audit into their operations.


These form part of the revised rules on foundations approved by the SEC Friday.


                    [DatePublished] => 2006-06-14 00:00:00
                    [ColumnID] => 133272
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                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 326149
                    [Title] => SEC probes 15 foundations for possible fraud
                    [Summary] => The Securities and Exchange Commission (SEC) is investigating around 15 foundations for possible fraud and non-submission of reportorial requirements in violation of the Securities Regulation Code (SRC), according to an SEC official.


However, Hubert Guevara, head of the SEC’s Compliance and Enforcement Department, refused to identify these foundations, but said some are owned by well-known personalities.


Guevara said some foundations use the name of politicians to get on with their illegal solicitation activities.


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                    [ArticleID] => 297648
                    [Title] => SEC to conduct  on-the-spot audit of foundations
                    [Summary] => The Securities and Exchange Commission (SEC) is planning to conduct on-the-spot audits on foundations to check if their business activities are legitimate.


Hubert Guevara, head of the SEC’s Compliance and Enforcement Department, said the move is intended to curb fraudulent fund-raising activities and money laundering.


He said the SEC will conduct a more comprehensive investigation and implement sanctions against the erring foundations which include the revocation of their certificate of incorporation.


                    [DatePublished] => 2005-09-20 00:00:00
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                    [ArticleID] => 290737
                    [Title] => SEC to crack down on phony foundations
                    [Summary] => The Securities and Exchange Commission (SEC) is drafting new  rules to stop fraudulent fundraising schemes and help donors  avoid scam artists and phony charities that prey on  people’s generosity.  


Hubert Guevara, head of the SEC’s Compliance  and Enforcement Department, said the agency is tightening  its requirements for non-stock, non-profit  organizations to curb fly-by-night foundations that  have been making a killing in their solicitation activities.


                    [DatePublished] => 2005-08-10 00:00:00
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                    [ArticleID] => 219710
                    [Title] => Powerhomes ordered to return money of investors
                    [Summary] => The Securities and Exchange Commission (SEC) has ordered Power Homes Unlimited Corp. to immediately return the investments of its over 100,000 members and to refrain from holding seminars or trainings which are intended to attract more investors.


Tomas Syquia, head of the SEC’s Compliance and Enforcement Department, said the failure of Powerhomes to comply with  their directive will result in the immediate closure of the marketing firm’s operations.


                    [DatePublished] => 2003-09-04 00:00:00
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HUBERT GUEVARA

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                    [ArticleID] => 341839
                    [Title] => SEC okays revised rules on foundations
                    [Summary] => Foundations applying for registration with the Securities and Exchange Commission (SEC) are required to  deposit their funds in a bank regulated by the Bangko  Sentral ng Pilipinas (CBSP) and to submit a statement of  willingness allowing an audit into their operations.


These form part of the revised rules on foundations approved by the SEC Friday.


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                    [Title] => SEC probes 15 foundations for possible fraud
                    [Summary] => The Securities and Exchange Commission (SEC) is investigating around 15 foundations for possible fraud and non-submission of reportorial requirements in violation of the Securities Regulation Code (SRC), according to an SEC official.


However, Hubert Guevara, head of the SEC’s Compliance and Enforcement Department, refused to identify these foundations, but said some are owned by well-known personalities.


Guevara said some foundations use the name of politicians to get on with their illegal solicitation activities.


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                    [ArticleID] => 297648
                    [Title] => SEC to conduct  on-the-spot audit of foundations
                    [Summary] => The Securities and Exchange Commission (SEC) is planning to conduct on-the-spot audits on foundations to check if their business activities are legitimate.


Hubert Guevara, head of the SEC’s Compliance and Enforcement Department, said the move is intended to curb fraudulent fund-raising activities and money laundering.


He said the SEC will conduct a more comprehensive investigation and implement sanctions against the erring foundations which include the revocation of their certificate of incorporation.


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                    [ArticleID] => 290737
                    [Title] => SEC to crack down on phony foundations
                    [Summary] => The Securities and Exchange Commission (SEC) is drafting new  rules to stop fraudulent fundraising schemes and help donors  avoid scam artists and phony charities that prey on  people’s generosity.  


Hubert Guevara, head of the SEC’s Compliance  and Enforcement Department, said the agency is tightening  its requirements for non-stock, non-profit  organizations to curb fly-by-night foundations that  have been making a killing in their solicitation activities.


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                    [ArticleID] => 219710
                    [Title] => Powerhomes ordered to return money of investors
                    [Summary] => The Securities and Exchange Commission (SEC) has ordered Power Homes Unlimited Corp. to immediately return the investments of its over 100,000 members and to refrain from holding seminars or trainings which are intended to attract more investors.


Tomas Syquia, head of the SEC’s Compliance and Enforcement Department, said the failure of Powerhomes to comply with  their directive will result in the immediate closure of the marketing firm’s operations.


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                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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)

abtest

SEC okays revised rules on foundations

By Zinnia B. Dela Peña | June 14, 2006 - 12:00am

Foundations applying for registration with the Securities and Exchange Commission (SEC) are required to deposit their funds in a bank regulated by the Bangko Sentral ng Pilipinas (CBSP) and to submit a statement...

Business

SEC probes 15 foundations for possible fraud

By Zinnia B. Dela Peña | March 14, 2006 - 12:00am

The Securities and Exchange Commission (SEC) is investigating around 15 foundations for possible fraud and non-submission of reportorial requirements in violation of the Securities Regulation Code (SRC), according...

Business

SEC to conduct on-the-spot audit of foundations

By Zinnia B. Dela Peña | September 20, 2005 - 12:00am

The Securities and Exchange Commission (SEC) is planning to conduct on-the-spot audits on foundations to check if their business activities are legitimate. Hubert Guevara, head of the SEC’s Compliance and Enforcement...

Business

SEC to crack down on phony foundations

By Zinnia B. Dela Peña | August 10, 2005 - 12:00am

The Securities and Exchange Commission (SEC) is drafting new rules to stop fraudulent fundraising schemes and help donors avoid scam artists and phony charities that prey on people’s generosity. Hubert...

Business

Powerhomes ordered to return money of investors

By Zinnia B. Dela Peña | September 4, 2003 - 12:00am

The Securities and Exchange Commission (SEC) has ordered Power Homes Unlimited Corp. to immediately return the investments of its over 100,000 members and to refrain from holding seminars or trainings which are intended...

Business