In the Matter of D' First Jam Financing, Inc.
SEC-CFD Order No. 057-09 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Apr 28, 2009
Full text
April 28, 2009 SEC-CFD ORDER NO. 057-09 IN THE MATTER OF D' FIRST JAM FINANCING, INC. VIOLATION OF THE IMPLEMENTING R ULE S OF R.A. 8556 (THE FINANCING COMPANY ACT OF 1998) AND THE CORPORATION C OD E OF THE PHILIPPINES ORDER ON PAYMENT OF PENALTY The records on file with this Commission show that D' FIRST JAM FINANCING, INC. failed to file its 2006, 2007 and 2008 quarter reports, 2006-2007 Special Form for Financing Companies (FCFS), 2006-2009 certification of Compliance Officer on the extent of its compliance with its Manual of Corporate Governance, certification of the Corporate Secretary on the attendance of directors to the 2006-2009 board meetings, General Information Sheets for 2005-2008, paid late its 2008-2009 annual fees within the periods prescribed by Sections 8 and 13 (b) of the Rules and Regulations to Implement the Provisions of R.A. 8556 (The Financing Company Act of 1998), Memorandum Circular No. 3, Series of 2007 and Sec. 26 of the Corporation Code of the Philippines, respectively. HEcTAI As a result, the company was ordered to pay a fine of One Hundred Thousand Pesos (P100,000.00),which it paid on April 23, 2009 as shown by Official Receipt No. 0282994. The company is admonished to take all appropriate measures to ensure its faithful and timely compliance with the said rules, Memorandum Circular and law. Any further violation shall subject the company and/or its responsible officers to heavier penalties pursuant to SEC Memorandum Circular No. 6, Series of 2005 or Consolidated Scale of Fines. SO ORDERED. EDSA, Greenhills, Mandaluyong City, Metro Manila. April 28, 2009. (SGD.) JUSTINA F. CALLANGAN Director
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