In re Infinite Investments and Finance Corporation

March 25, 2008 SEC-CFD ORDER NO. 032-08 IN THE MATTER OF INFINITE INVESTMENTS AND FINANCE CORPORATION ORDER OF SUSPENSION The records on file with this Commission show that: Infinite Investments and Finance Corporation failed to pay its 2004 to 2007 annual fees and to pay the maximum penalty of P100,000.00, in violation of Section 8 of the Rules and Regulations to implement the Provisions of R.A. No. 8556 (The Financing Company Act of 1998); It failed to file its 2003 3rd and 4th and 2004 to 2007 quarterly reports and 2004 to 2006 Audited Financial Statements, in violation of Section 13 (b) of the Rules and Regulations to Implement the Provisions of R.A. No. 8556; and It failed to file its 2004 to 2007 General Information Sheets, in violation of Section 141 of the Corporation Code of the Philippines and to submit a duly accomplished Corporate Governance Self-Rating Form (CG-SRF), AMLA Compliance Form (AMLA-CF), Revised Anti-Money Laundering Manual and the required certifications of its Corporate Secretary and Compliance Officer for 2005 to 2007. In spite of notice and demand, the company has failed to submit the said reports and to pay the said annual fees and penalty. It also failed to attend without justifiable cause the scheduled hearing/s on February 22 and March 31, 2006 on the said violations. Pursuant to the resolution of the Commission in its meeting on March 18, 2008, the company's Certificate of Authority to Operate as a Financing Company is hereby SUSPENDED for a period of 60 days from date of receipt of this Order or until the company has submitted the said reports and paid the said annual fees and penalty. If the company fails to submit the reports and paid the annual fees and penalty within the said period, the Commission shall immediately initiate proceedings for the revocation of its Certificate of Authority to Operate as a Financing Company. SO ORDERED. (SGD.) JUSTINA F. CALLANGAN Director