O&B Consulting

Robots taking over may not be the danger humanity needs to watch out for, as a Bangko Sentral ng Pilipinas (BSP) artificial intelligence (AI) expert flagged developing countries like the Philippines for their heavy reliance on cloud-hosted foreign AI tools rather than developing their own.

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The BSP is proposing new rules to streamline administrative cases against supervised financial institutions and their personnel, allowing hearing officers to establish facts without strict court-style procedural requirements.

The draft framework also sets penalty thresholds, with fines of up to ₱100,000 per violation requiring BSP Governor approval, while higher penalties and non-monetary sanctions go to the Monetary Board.

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📰 𝗦𝗘𝗖 𝘀𝘁𝗼𝗽𝘀 𝗶𝗹𝗹𝗲𝗴𝗮𝗹 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝘀𝗰𝗵𝗲𝗺𝗲𝘀 𝗼𝗳 𝗡𝗲𝗴𝗼 𝗙𝗼𝗼𝗱 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻, 𝗨𝗽𝘁𝗿𝗮𝗱𝗲 𝗔𝗹𝗹𝗶𝗮𝗻𝗰𝗲

The Securities and Exchange Commission (SEC) has issued cease and desist orders (CDO) against Nego Food Solution Corp. and Uptrade Alliance for engaging in unauthorized solicitation of investments from the public.

In separate orders, the SEC Enforcement and Investor Protection Department (EIPD) directed Nego Food Solution and Uptrade Alliance, including their officers, representatives, dealers, and any and all persons acting for and, in their behalf, to immediately cease and desist from selling or offering unregistered securities in the form of investment contracts without the necessary registration and licenses from the Commission.

The order against Nego Food Solution also covers Noel B. Andres, Marko/Mark Marquez, and Celyn/Jocelyn Manzanero.

Nego Food Solution and Uptrade Alliance were also prohibited from transacting any business involving funds in their depository banks, and from transferring, disposing or conveying all assets and properties under their control to preserve such assets for the benefit of the investors.

Both entities were also directed to cease their internet presence relating to the transactions and investment scheme covered by the orders.

Investigation by the EIPD showed that Nego Food Solution and Uptrade Alliance were engaged in soliciting investments from the public without the necessary licenses and authority from the Commission. Uptrade Alliance is likewise not registered with the SEC as a corporation or partnership.

Under its scheme, Nego Food Solution offers co-ownership agreements to its investors related to the establishment and operation of food outlets by paying P849,000, with a promised passive income quarterly.

Meanwhile, Uptrade Alliance entices the public to invest amounts ranging from P300 to P1,000, with guaranteed returns of 12 percent after five days and up to 60 percent after 15 days.

Uptrade Alliance likewise offers referral commissions ranging from three percent to five percent based on the investment made by individuals referred by existing investors. It was also found operating an online platform to facilitate crypto-asset trading activities.

Section 8 of Republic Act (RA) No. 8799, or the Securities Regulation Code (SRC), proscribes the selling, offering or distribution of securities without a registration statement duly filed with and approved by the Commission, while Section 28 requires all persons engaged in buying or selling securities to register with the SEC as a broker, dealer, or salesperson.

The SEC also said the unauthorized investment schemes of Nego Food Solution and Uptrade Alliance constitute investment fraud under RA No. 11765, or the Financial Products and Services Consumer Protection Act.

Read the orders here:

𝟭. 𝗡𝗘𝗚𝗢 𝗙𝗢𝗢𝗗 𝗦𝗢𝗟𝗨𝗧𝗜𝗢𝗡 𝗖𝗢𝗥𝗣., 𝗡𝗢𝗘𝗟 𝗕. 𝗔𝗡𝗗𝗥𝗘𝗦, 𝗠𝗮𝗿𝗸𝗼/𝗠𝗮𝗿𝗸 𝗠𝗮𝗿𝗾𝘂𝗲𝘇, 𝗮𝗻𝗱 𝗖𝗲𝗹𝘆𝗻/𝗝𝗼𝗰𝗲𝗹𝘆𝗻 𝗠𝗮𝗻𝘇𝗮𝗻𝗲𝗿𝗼
🔗 https://www.sec.gov.ph/issuance/nego-food-solution-corp/?fbclid=IwcGRvZgFleHRuA2FlbQIxMABicmlkETFmV210NDdtTU1RUnNacTFCc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHnjaLZqcrY_OWqfb0-OQzgm6Wfgx6BUEXan2OgYwsMhkhGLNe5qCXLrteIL6_aem_c_Q3brN9i9EVpzublaL8Ag .tab=0

𝟮. 𝗨𝗣𝗧𝗥𝗔𝗗𝗘 𝗔𝗟𝗟𝗜𝗔𝗡𝗖𝗘
🔗 https://www.sec.gov.ph/issuance/uptrade-alliance/?fbclid=IwcGRvZgFleHRuA2FlbQIxMABicmlkETFmV210NDdtTU1RUnNacTFCc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHsL_ujeRd7BNtRCcQVWawTgoFZAoqWFOz0VwD8611swHCJ2SUj1ZA45fuhYS_aem_Q1-fzw0zo2lIW8GKcRWEDQ .tab=0

𝗡𝗢𝗧𝗜𝗖𝗘: 𝗨𝗣𝗗𝗔𝗧𝗘𝗗 𝗚𝗨𝗜𝗗𝗘𝗟𝗜𝗡𝗘𝗦 𝗢𝗡 𝗧𝗛𝗘 𝗦𝗨𝗕𝗠𝗜𝗦𝗦𝗜𝗢𝗡 𝗢𝗙 𝗠𝗢𝗡𝗘𝗬 𝗟𝗔𝗨𝗡𝗗𝗘𝗥𝗜𝗡𝗚 𝗔𝗡𝗗 𝗧𝗘𝗥𝗥𝗢𝗥𝗜𝗦𝗧 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗡𝗚 𝗣𝗥𝗘𝗩𝗘𝗡𝗧𝗜𝗢𝗡 𝗣𝗥𝗢𝗚𝗥𝗔𝗠 (𝗠𝗧𝗣𝗣) 𝗔𝗡𝗗 𝗦𝗪𝗢𝗥𝗡 𝗖𝗘𝗥𝗧𝗜𝗙𝗜𝗖𝗔𝗧𝗜𝗢𝗡

Pursuant to SEC Memorandum Circular No. 16, Series of 2018, SEC Covered Persons (CPs) are required to adopt and submit their Money Laundering and Terrorist Financing Prevention Program (MTPP) to the Commission within the prescribed period. This requirement was further reinforced under SEC Memorandum Circular No. 29, Series of 2020, which provides the procedures for the submission and monitoring of MTPPs. The requirement likewise applies to lending and financing companies pursuant to SEC Memorandum Circular No. 4, Series of 2021.

Under the updated guidelines, all SEC Covered Persons applying for registration and/or secondary licenses shall submit a Sworn Certification in lieu of the MTPP during the application stage. The certification must attest that the MTPP has been prepared, noted, and approved by the Board of Directors, or by the country, regional, or area head, or its equivalent in the case of local branches of foreign covered persons.

These updated guidelines apply to:
(1) securities brokers and dealers, investment houses, underwriters of securities, government securities eligible dealers, investment companies or mutual funds, investment company advisers, mutual fund distributors, REIT fund managers, lending companies, and financing companies; and
(2) entities applying for a Certificate of Authority to operate as a financing company or a lending company.

Read the full notice: https://www.sec.gov.ph/notices-2026/updated-guidelines-on-the-submission-of-money-laundering-and-terrorist-financing-prevention-program-mtpp-and-sworn-certification/ .tab=0

The peso inched up against the United States (US) dollar on Thursday, Sept. 17, closing at ₱62.73 from ₱62.739 last Wednesday, Sept. 16.

According to the Bankers Association of the Philippines (BAP), the local currency reached an intraday high of ₱62.72 and a low of ₱62.85 after opening at ₱62.83.

Total trading volume declined to $1.268 billion from Wednesday’s $1.349 billion.

🚨 𝗡𝗦𝗛𝗢𝗣, 𝗠&𝗡 𝗢𝗡𝗟𝗜𝗡𝗘 𝗦𝗛𝗢𝗣, 𝗔𝗡𝗗 𝗡𝗙𝗨𝗡𝗗𝗦 𝗔𝗡𝗗 𝗡𝗔𝗧𝗛𝗔𝗟𝗜𝗘 𝗝𝗘𝗔𝗡 𝗕𝗘𝗥𝗦𝗔𝗠𝗜𝗡𝗔

The Securities and Exchange Commission (SEC), through its Enforcement and Investor Protection Department (EIPD), has issued a Cease and Desist Order (CDO) against NShop, M&N Online Shop, NFunds, and Nathalie Jean Bersamina for the alleged unauthorized offering and sale of unregistered securities and engagement in lending activities without the required registration and authority from the Commission.

🔗 Read the order here: https://www.sec.gov.ph/issuance/__trashed-54/ .tab=0

San Miguel Corp.’s ₱30-billion preferred share offering drew strong retail demand on GStocks PH, with all three shares oversubscribed through the GCash-based platform.

The shares offered annual dividend rates of up to 8.6483%, while GStocks PH’s digital subscription feature gave retail investors greater access and visibility during the offering.

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