In the Matter of Ultragold Financing Corporation
SEC-CGFD Order No. 112-14 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • May 5, 2014
Full text
May 5, 2014 SEC-CGFD ORDER NO. 112-14 IN THE MATTER OF ULTRAGOLD FINANCING CORPORATION SEC Registration No. CS200410492 ORDER OF REVOCATION The records on file with this Commission show that Ultragold Financing Corporation failed to comply with the reportorial and other requirements of the Corporation Code and the Financing Company Act of 1998 and its Implementing Rules and Regulations. On 26 October 2011, the Commission sent an authorized person to the office address of the company to conduct audit. The authorized person was not able to locate the building where the company is supposed to hold office. Some of the vendors, tricycle drivers and store owners along Mercado Street said they are not familiar with Ultragold Financing. The Barangay Secretary of Tuktukan, Guiguinto, Bulacan issued a certification that Ultragold Financing Corporation has not secured any business permit from the barangay since 2005. In a Notice of Hearing dated 06 January 2012, the company was directed to show cause why its Certificate of Authority (CA) to operate as a financing company should not be suspended/revoked for its violations of various reportorial and other compliance requirements. Copy of said Notice was sent to each of the directors of the company. Records show that the Notice sent to Mr. Florencio A. Gutierrez, a director of the company, was received on 18 January 2012. Copies of the Notice sent to the other directors were returned to sender. Pursuant to the resolution of the Commission in its meeting on 03 April 2014, the company's Certificate of Authority to Operate as a Financing Company is hereby REVOKED for continuous non-compliance with the requirements of the Financing Company Act of 1998 and its Implementing Rules and Regulations. TaSEHD Let a Copy of this Order be sent to the principal address of the company, the Municipal Hall of Guiguinto, Bulacan, and posted in the Commission's official website for the information and guidance of the public. SO ORDERED. May 5, 2014, Mandaluyong City. For Director JUSTINA F. CALLANGAN (SGD.) LEONORA S. TANDOC Division Head-Monitoring Division
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.