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King of IPO busts? Manny Villar’s VREIT barely survives bearish market on debut
June 15, 2022 7:53 pm

Bittersweet! PSE permanently shuts trading floor

After 64 years, the Philippine Stock Exchange shuttered its iconic trading floor on Friday, signaling its shift to all electronic trading starting June 27.

The bourse’s migration to flourless trading was in response to technological advances that made trading more convenient and efficient for the investing public and stockbrokers. Automation will result in faster trades, better prices and cost savings.

During the closing ceremony, PSE president and CEO Ramon Monzon said this was “a sentimental moment for everyone who found comfort and security in being at a trading floor. “

7 guilty, get 20 years in P3-B One Dream investment scam

MANILA, Philippines — A regional trial court in Batangas has sentenced the perpetrators behind the P3-billion One Dream investment scam to a prison term of up to 20 years and a fine of P2.8 million, the Securities and Exchange Commission (SEC) said on Tuesday.

The corporate regulator said the July 14 decision was issued by the Batangas City Regional Trial Court Branch 2 against officials of One Dream Global Marketing Inc., which was legally posing as a detergents retailer while duping thousands of victims by selling illegal securities.

Convicted were One Dream officers Arnel Gacer, Jobelle de

SEC permanently stops Nworld from illegally soliciting investments

The Securities and Exchange Commission (SEC) has made permanent its order stopping AlphanetWorld Corporation, which has been doing business under the name NWorld, from soliciting investments from the public without the necessary license.

In a resolution, the Commission En Banc denied for lack of merit AlphanetWorld’s motion to lift the February 23 cease and desist order (CDO) issued against the company for its unauthorized solicitation, offer and/or sale of securities.

CA upholds fine, suspension on Alphaland officials

THE Court of Appeals (CA) has upheld the decision of the Securities and Exchange Commission (SEC) that imposed a fine of P1 million and a five-year suspension on businessman Roberto V. Ongpin and several directors of Alphaland Corp. for issuing undervalued company shares in exchange for property and failing to disclose property valuations.

In a 19-page decision on Aug. 10 and made public on Aug. 11, the appellate court agreed with the SEC’s findings as it said the board members violated the Securities and Regulations Code (SRC) for making false statements and misrepresentations on the issuances of company shares.


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