Finance Secretary Carlos Dominguez III swore in Wednesday afternoon lawyer Emilio Aquino as commissioner of the Securities and Exchange Commission (SEC), replacing Manuel Gaite whose term expired this year.
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The Department of Finance (DOF) and the Securities and Exchange Commission (SEC) signed a memorandum of agreement (MOA) last 17 November 2014, allowing both parties to institutionalize data sharing and information exchange. As part of this undertaking, the SEC will share electronic copies of all basic company information and financial data contained in the General Information Sheets (GIS), as well as all financial data contained in the General Form for Financial Statements (GFFS), the Special Form for Financial Statements (SFFS), and the Audited Financial Statements (AFS).
Read MoreThe Finance department is looking at increasing pre-need companies’ capitalization five times more than the prevailing amount, a Cabinet official said, in light of the Prudentialife Plans, Inc.’s present financial woes.
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