A former stockbroker who had defrauded clients was convicted for seven violations of securities laws, the first criminal conviction under the Securities Regulation Code.
The P1-billion penalty paid by Philex Mining Corp. for the tailings spill that occurred at its Padcal mine site in August 2012 may have been “low,” according to Sen. Sergio Osmeña III.
The operations of a mining unit of publicly listed Oriental Peninsula Resources Group Inc. in southern Palawan are under review after the reported outflow of silt from its mine site to the province’s Pinagduguan River and nearby farmlands.
Gold and copper producer Philex Mining Corp. promised to cooperate with the Mines and Geosciences Bureau of the Department of Environment and Natural Resources, which ordered the company to pay the P1.03-billion fine for tailings leak at its mining site in Benguet.
Credit card giant American Express was fined $27.5 million by US regulators and ordered to refund $85 million to consumers Monday for deceiving and overcharging card users.
German carmaker BMW has agreed to pay $3 million in civil penalties for failing to report safety defects soon enough, US safety regulators said Friday.
