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CA upholds SEC stop order against NWorld
The Philippine Star
|January 15, 2025
The Securities and Exchange Commission (SEC) has scored another victory against an erring company after the Court of Appeals (CA) has upheld the cease and desist order issued by the commission against AlphanetWorld Corp.
Doing business under the name and style of NWorld, AlphanetWorld was found soliciting investments from the public without the necessary license.
In February 2022, the SEC issued a cease and desist order against NWorld, directing the company and its directors, stockholders, agents and all persons acting on their behalf to immediately stop from soliciting investments without the commission's approval.
The commission issued a resolution in July of the same year which denied the motion filed by NWorld to lift the order for lack of merit, making the cease and desist order permanent.
Cette histoire est tirée de l'édition January 15, 2025 de The Philippine Star.
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