Porac mayor seeks stricter SEC measures
The focus should not be on assigning blame within government ranks but on fostering collaboration to combat this pervasive threat
Text size
The focus should not be on assigning blame within government ranks but on fostering collaboration to combat this pervasive threat
Porac, Pampanga — The local government here is pushing the Securities and Exchange Commission (SEC) to implement stricter measures to prevent the illegal activities of Philippine Offshore Gaming Operators (POGOs) from happening again.
Porac Mayor Jaime Capil stressed that there should be a unified government response to prevent a repeat of illegal activities by POGOs as he stressed collaboration over blame.
“The focus should not be on assigning blame within government ranks but on fostering collaboration to combat this pervasive threat,” Capil said.
He proposed a “comprehensive review and enhancement of the SEC’s validation processes” to better identify potential risks posed by incorporators, particularly those seeking Internet Gaiming Licenses (IGLs).
“Given that the SEC serves as the birthing ground for new juridical entities, it is imperative that the validation of incorporators be stringent and thorough,” Capil said, adding that it would prevent the exploitation of Philippine economic and regulatory environments.
Capil also called for a stricter validation process for incorporators in the Articles of Incorporation to ensure businesses adhere to national and local laws. This, he said, would be a “first step towards tightening control” over IGLs.
Authorities are currently searching for incorporators of Sun Yuan Technology in Bamban, Tarlac, believed to be Chinese fugitives led by Huang Zhiyang, Zhang Ruijin and Lin Baoyig.
Hindu immigrants abroad celebrate in either August or September Ganesh Chaturthi, a 10-day festival commemorating the…
President Ferdinand Marcos Jr. on Tuesday called for women’s greater representation in leadership across Southeast…
The Senate impeachment court on Tuesday denied the prosecution’s bid to compel Vice President Sara Duterte to confirm…
