In re Philam Strategic Growth Fund, Inc.
SEC-CFD Order No. 036-08 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Apr 10, 2008
Full text
April 10, 2008 SEC-CFD ORDER NO. 036-08 IN THE MATTER OF PHILAM STRATEGIC GROWTH FUND, INC. VIOLATION OF SRC R UL E 68 ORDER ON PAYMENT OF PENALTY Records on file with this Commission show that PHILAM STRATEGIC GROWTH FUND, INC. failed to disclose the Deposits for Future Subscriptions that started on January 31, 2007 and corporate approvals required for an increase in Authorized Capital Stock as a subsequent event in its audited financial statements for the year ended December 31, 2006, in violation of SRC Rule 68. As a result, the company was ordered to pay a fine of One Hundred Eighty Seven Thousand Five Hundred Pesos (P187,500.00), which it paid on April 8, 2008 as shown by Official Receipt No. 0156473 dated April 8, 2008. The company is admonished to take all appropriate measures to ensure its faithful and timely compliance with SRC Rule 68. Any further violation shall subject the company and/or its responsible officers to heavier penalties as may be provided by law. aASDTE SO ORDERED. EDSA, Greenhills, Mandaluyong City, Philippines. April 10, 2008. (SGD.) JUSTINA F. CALLANGAN Director
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