In re Officers and Employees of PCCI Securities Broker Corp.

March 16, 2023 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT EIPD Case: 13-3020 IN THE MATTER OF OFFICERS AND EMPLOYEES OF PCCI SECURITIES BROKER CORP. ORDER The Securities and Exchange Commission wishes to announce to the public that the above-named individuals have entered into a settlement offer with Commission. The settlement offer was made upon findings of the EIPD of violations of the Securities Regulation Code and the subsequent issuance of Amended Order dated 27 April 2022 where it imposed a penalty of Php6,050,000.00 for the following violations: MR. FRANCISCO LIBORO Sec. 26.1 (Fraudulent Transaction) Php1,000,000.00 Sec. 51.4 (Aiding and Abetting Violation of the SRC) Php1,000,000.00 MS. CORAZON GALANG Sec. 51.4 Php350,000.00 MR. JOEMARIE G. BIATEN Sec. 26.1 (Fraudulent Transaction) Php1,000,000.00 Sec. 51.4 (Aiding and Abetting Violation of the SRC) Php1,000,000.00 Sec. 54 (Violation of Order Ticket Rule, 213 had no Time and Date Stamps) Php1,000,000.00 MS. PLACIDA ORLINA 1. Sec. 51.4 Php350,000.00 MR. RAYMOND LIM Sec. 51.4 Php350,000.00 TOTAL Php6,050,000.00 In view of the foregoing, respondents made a settlement offer in the amount of Three Million Three Hundred Thirty Thousand (Php3,630,000.00) n or Sixty Percent (60%) of the fine imposed by the EIPD. In their Settlement Offer, PCCI stated that it had been on voluntary suspension since 2018 and at the time of the offer, its permanent cessation of trading has already been approved by the Philippine Stock Exchange (PSE) and by the Capital Markets Integrity Corporation (CMIC). Consequently, a clearance for PCCI is being sought from the Commission in order to sell its "trading rights" at the PSE Bourse. Based on the reasons cited, the Commission accepted the Settlement Offer and issued therefor Official Receipt No. 2197601. Consequently, the case is now deemed settled without determination of fault or guilt of the part of the above-named officers and employees of PCCI Securities Broker Corporation. Only upon publication in the website of SEC shall this settlement offer become effective pursuant to the Rule 55.1, No. 2 [g] on Settlement Offer of the 2015 IRR of the Securities Regulation Code. SO ORDERED. March 16, 2023, Makati City. (SGD.) OLIVER O. LEONARDO Director n Note from the Publisher: Copied verbatim from official document. Discrepancy between words and figures.