In the Matter of Advent Capital and Corporation
SEC-CFD Order No. 027-09 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Feb 20, 2009
Full text
February 20, 2009 SEC-CFD ORDER NO. 027-09 IN THE MATTER OF ADVENT CAPITAL AND CORPORATION VIOLATION OF THE IMPLEMENTING R ULE S OF R.A. NO. 8556 (The Financing Company Act of 1998) ORDER ON PAYMENT OF PENALTY The records of the Commission show that ADVENT CAPITAL AND FINANCE CORPORATION failed to file its 2006 and 2007 Audited Financial Statements within the period prescribed by Section 13 (b) of the Rules and Regulations to Implement the Provisions of R.A. No. 8556 (The Financing Company Act of 1998). HTDcCE As a result, the company was ordered to pay a fine of Sixty-Six Thousand Five Hundred Pesos (P66,500.00) which it paid on February 13, 2009 under OR# 0257786. The company is admonished to take all appropriate measures to ensure its faithful and timely compliance with the said rules. Any further violation shall subject the company and/or its responsible officers to a heavier penalty pursuant to Memorandum Circular No. 6, Series of 2005 or Consolidated Scale of Fines. SO ORDERED. EDSA, Greenhills, Mandaluyong City, Metro Manila. February 20, 2009. (SGD.) JUSTINA F. CALLANGAN Director
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