MORNBFI Vol. 1 - Planters Development Bank

APP. Q-808.12.312) Quarterly reports on long-termcommercial paper transactions,accompanied by an interim quarterlyfinancial statement to be submitted withinthirty (30) calendar days following the endof the reference quarter; and3) Actual quarterly cash flowstatement, to be submitted within ten (10)working days following the end of thereference quarter.b. These periodic reports shall besigned under oath by the corporate officersauthorized, pursuant to a board resolutionpreviously filed with the SEC.c. Issuers whose offices are locatedin the provinces may, through theirunderwriters, submit their reports to thenearest extension office of the SEC.Sec. 16. Administrative SanctionsIf the SEC finds that there is a violation ofany of these Rules and Regulations andimplementing circulars, or that any issuer,in a registration statement and itssupporting papers, as well as in the periodicreports required to be filed with the SECand the BSP, has made any untruestatement of a material fact, or omitted tostate any material fact required to be statedtherein or necessary to make thestatements therein not misleading, orrefuses to permit any lawful examinationinto its corporate affairs, the SEC shall, inits discretion, impose any or all of thefollowing sanctions:a. Suspension or revocation, afterproper notice and hearing, of the Certificateof Registration and Authority to IssueCommercial Paper;b. A fine in accordance with theguidelines that the SEC shall issue from timeto time: Provided, however, That such fineshall in no case be less than P200 nor morethan P50,000 for each violation, plus notmore than P500 for each day of continuingviolation. Annex "B" hereof shall initially bethe guidelines on the scale of fines;c. Other penalties within the powerof the SEC under existing laws; andd. The filing of criminal chargesagainst the individuals responsible for theviolation.Sec. 17. Cease-and-Desist Ordera. The SEC may, on its own motionor upon verified complaint by anaggrieved party, issue a Cease-and-DesistOrder ex-parte, if the violation(s)mentioned in Section 16 hereof maycause great or irreparable injury to theinvesting public, or will amount topalpable fraud or violation of thedisclosure requirements of the RevisedSecurities Act and of these Rules andRegulations.b. The issuance of such Cease-and-Desist Order automatically suspends theAuthority to Issue Long-Term CommercialPaper.c. Such Cease-and-Desist Ordershall be confidential in nature, until afterthe imposition of the sanctions mentionedin Section 16 hereof shall have becomefinal and executory.d. Immediately upon the issuanceof an ex-parte Cease-and-Desist Order,the SEC shall notify the parties involved,and schedule a hearing on whether to liftsuch order, or to impose the administrativesanctions provided for in Section 16 notlater than fifteen (15) days after receipt ofnotice.Sec. 18. Repealing Clause. TheseRules and Regulations supersede theRules on Registration of Long-TermCommercial Paper and Bonds dated15 October 1976 and all the amendmentsto said Rules except as provided in Section19 hereof. All other rules, regulations,orders, memoranda circular of the SEC,which are inconsistent herewith, arelikewise hereby repealed or modifiedaccordingly.Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-8 - Page 7