In re IBA Finance Corporation
SEC-CFD Order No. 031-08 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Mar 19, 2008
Full text
March 19, 2008 SEC-CFD ORDER NO. 031-08 IN THE MATTER OF IBA FINANCE 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 on file with this Commission show that IBA FINANCE CORPORATION failed to pay its 2007 annual fee and to file its 2007 3rd quarterly report within the period prescribed by Sections 8 and 13 (a) of the Rules and Regulations to Implement the Provisions of R.A. 8556 (The Financing Company Act of 1998), respectively. TAHIED As a result, the company was ordered to pay a fine of Twenty Two Thousand Eight Hundred Pesos (P22,800.00) as shown by Official Receipt No. 0140534 dated March 18, 2008. The company is admonished to take all appropriate measures to ensure its faithful and timely compliance with the said rule and law. Any further violation shall subject the company and/or its responsible officers to heavier penalties as may be provided for by law. aSIETH SO ORDERED. EDSA, Greenhills, Mandaluyong City, Metro Manila. March 19, 2008. (SGD.) JUSTINA F. CALLANGAN Director
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