SEC backs easing of bank secrecy law

THE Securities and Exchange Commission (SEC) is backing the amendment of the Republic Act No. 1405 or the Secrecy of Bank Deposits Law to further strengthen its efforts against dirty money, tax evasion, and other financial crimes. “Such provisions will lift a long-standing barrier to effective investigation and prosecution of financial crimes,” the corporate watchdog […]

Tourism commission to promote scenic spots in upland barangays

TO REVIVE Cebu City’s tourism industry, the Cebu City Tourism Commission is identifying sites in various barangays to be promoted as tourist spots. Tourism Commissioner Jocelyn Pesquera said the City aims to boost tourism in mountain barangays, which offer a number of possible tourist spots. The commission is currently inspecting waterfalls in Barangays Budlaan and […]

PCC defends Makati subway review

THE Philippine Competition Commission (PCC) defended its review of the terminated Makati City subway merger proposal, explaining that the transaction was withdrawn due to pandemic-related concerns. Its stand came after Philippine Infradev Holdings, Inc. on Tuesday said that the investment of Hong Kong Binjiang Industrial Ltd. in the listed firm’s subsidiary Makati City Subway, Inc. […]

SEC warns public against Intelligence Samusai

THE Securities and Exchange Commission (SEC) has advised individual borrowers about communicating with a certain entity named Intelligence Samusai. In an advisory posted on its website, the SEC’s corporate governance and finance department said it had learned that Intelligence Samusai, which uses the e-mail address ( has been contacting individual borrowers of a certain lending […]