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                    [ArticleID] => 226535
                    [Title] => Glasgow bid for 7-year payment of SEC fine rejected
                    [Summary] => The Securities and Exchange Commission is not inclined to accept the proposal of  pseudo-investment firm Glasgow Credit and Collection Services Inc. to pay the assessed penalty of P10 million over a seven-year  period.


An SEC official, who requested not to be named, said the commission is not likely to approve Glasgow’s proposed mode of payment. "The commission wants a shorter period.  It should only be for one year," the same official said.


                    [DatePublished] => 2003-11-03 00:00:00
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                    [ArticleID] => 223334
                    [Title] => Glasgow pressed to pay P10-million penalty
                    [Summary] => Glasgow Credit and Collection Services Inc. is being pressed by the Securities and Exchange Commission to immediately pay the assessed penalty of P10 million for unauthorized sale of securities to the public in violation of the Securities Regulation Code.


The company was issued a cease-and-desist order by the SEC for offering to the public investment contracts without prior registration with the corporate watchdog.


                    [DatePublished] => 2003-10-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
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                    [ArticleID] => 188359
                    [Title] => Glasgow investors not on SEC list may still get their money back
                    [Summary] => Investors of Glasgow Collection and Services Inc. who have yet to get their principal investments back will have something to look forward to as the company has authorized the Securities and Exchange Commission (SEC) to pay even those that are not on the SEC list of claimants.


SEC Chairperson Lilia R. Bautista said Glasgow has given SEC the authority to pay 450 Glasgow investors who were not included on the SEC list. She did not say how much would be returned to the investors.


                    [DatePublished] => 2002-12-18 00:00:00
                    [ColumnID] => 133272
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                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 185365
                    [Title] => SEC fines Glasgow P13.5M
                    [Summary] => The Securities and Exchange Commission (SEC) has imposed a P13.5-million fine on  Glasgow Collection and Services Inc. for the unauthorizedsale of securities in violation of the Securities Regulation Code (SRC).


SEC officials said Glasgow was willing to settle the fine in exchange for the dropping of charges against the company, its officers and owners.


The SEC earlier said it was considering filing a criminal complaint against Glasgow officers to make them answerable for all the losses incurred by investors.


                    [DatePublished] => 2002-11-25 00:00:00
                    [ColumnID] => 133272
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                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 182084
                    [Title] => Glasgow investors may get money back before yearend
                    [Summary] => The Securities and Exchange Commission said investors of Glasgow Credit and Collection Services Inc. may get their money back before December this year.


Tomas Syquia, head of the SEC’s compliance and enforcement department, said: "Before December, we expect to give it. We’re just fixing the payment scheme. The priority is to return the money."


Glasgow investors are expected to receive 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.


                    [DatePublished] => 2002-10-31 00:00:00
                    [ColumnID] => 133272
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                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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ROLDAN ESTACIO

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                    [ArticleID] => 226535
                    [Title] => Glasgow bid for 7-year payment of SEC fine rejected
                    [Summary] => The Securities and Exchange Commission is not inclined to accept the proposal of  pseudo-investment firm Glasgow Credit and Collection Services Inc. to pay the assessed penalty of P10 million over a seven-year  period.


An SEC official, who requested not to be named, said the commission is not likely to approve Glasgow’s proposed mode of payment. "The commission wants a shorter period.  It should only be for one year," the same official said.


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                    [ArticleID] => 223334
                    [Title] => Glasgow pressed to pay P10-million penalty
                    [Summary] => Glasgow Credit and Collection Services Inc. is being pressed by the Securities and Exchange Commission to immediately pay the assessed penalty of P10 million for unauthorized sale of securities to the public in violation of the Securities Regulation Code.


The company was issued a cease-and-desist order by the SEC for offering to the public investment contracts without prior registration with the corporate watchdog.


                    [DatePublished] => 2003-10-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 188359
                    [Title] => Glasgow investors not on SEC list may still get their money back
                    [Summary] => Investors of Glasgow Collection and Services Inc. who have yet to get their principal investments back will have something to look forward to as the company has authorized the Securities and Exchange Commission (SEC) to pay even those that are not on the SEC list of claimants.


SEC Chairperson Lilia R. Bautista said Glasgow has given SEC the authority to pay 450 Glasgow investors who were not included on the SEC list. She did not say how much would be returned to the investors.


                    [DatePublished] => 2002-12-18 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
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                    [ArticleID] => 185365
                    [Title] => SEC fines Glasgow P13.5M
                    [Summary] => The Securities and Exchange Commission (SEC) has imposed a P13.5-million fine on  Glasgow Collection and Services Inc. for the unauthorizedsale of securities in violation of the Securities Regulation Code (SRC).


SEC officials said Glasgow was willing to settle the fine in exchange for the dropping of charges against the company, its officers and owners.


The SEC earlier said it was considering filing a criminal complaint against Glasgow officers to make them answerable for all the losses incurred by investors.


                    [DatePublished] => 2002-11-25 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 182084
                    [Title] => Glasgow investors may get money back before yearend
                    [Summary] => The Securities and Exchange Commission said investors of Glasgow Credit and Collection Services Inc. may get their money back before December this year.


Tomas Syquia, head of the SEC’s compliance and enforcement department, said: "Before December, we expect to give it. We’re just fixing the payment scheme. The priority is to return the money."


Glasgow investors are expected to receive 79 percent of their principal investments back, slightly higher than the earlier announced figure of 67 to 68 percent.


                    [DatePublished] => 2002-10-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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)

abtest

Glasgow bid for 7-year payment of SEC fine rejected

November 3, 2003 - 12:00am

The Securities and Exchange Commission is not inclined to accept the proposal of pseudo-investment firm Glasgow Credit and Collection Services Inc. to pay the assessed penalty of P10 million over a seven-year period. An...

Business

Glasgow pressed to pay P10-million penalty

By Zinnia B. Dela Peña | October 7, 2003 - 12:00am

Glasgow Credit and Collection Services Inc. is being pressed by the Securities and Exchange Commission to immediately pay the assessed penalty of P10 million for unauthorized sale of securities to the public in violation...

Business

Glasgow investors not on SEC list may still get their money back

By Zinnia B. Dela Peña | December 18, 2002 - 12:00am

Investors of Glasgow Collection and Services Inc. who have yet to get their principal investments back will have something to look forward to as the company has authorized the Securities and Exchange Commission (SEC)...

Business

SEC fines Glasgow P13.5M

By Zinnia B. Dela Peña | November 25, 2002 - 12:00am

The Securities and Exchange Commission (SEC) has imposed a P13.5-million fine on Glasgow Collection and Services Inc. for the unauthorizedsale of securities in violation of the Securities Regulation Code (SRC). SEC...

Business

Glasgow investors may get money back before yearend

By Zinnia B. Dela Peña | October 31, 2002 - 12:00am

The Securities and Exchange Commission said investors of Glasgow Credit and Collection Services Inc. may get their money back before December this year. Tomas Syquia, head of the SEC’s compliance and enforcement...

Business