In light of identity thefts unearthed in POGO hearings, the Securities and Exchange Commission (SEC) will be cracking the whip on dubious corporations who may be using fake credentials.
Atty. Richard Laus, SEC regional director for Central Luzon and Cagayan Valley, said that they have intensified operations against false credentials being used in registration of business firms. He was guest in the News@Hues media forum of the Pampanga Press Club at Park Inn by Radisson Clark.
He said that the agency has intensified its monitoring activities on erring corporations as well as its protection measures for the investing public.
“We don’t stop at registration but we also coordinate with other government agencies especially those in law enforcement as we guard against those who may be engaged in illegal activities,” he said.
It would be recalled that some individuals present in hearings on POGO complained that their identities were used in incorporation papers without their knowledge.
Laus has also called on notaries public to verify the presence of would-be incorporators in administering sworn statements in articles of incorporation. A notary is a pre-requisite in SEC registration of business firms.
SEC also verifies identities of persons being designated as incorporators in their “credentialling” activities under their so-called SEC-ZERO regular process.
