Published by Securities and Exchange Commission(SEC) on March 27, 2022.
Requested from SEC by L. Tagapuen at 12:42 AM on
March 27, 2022.
Purpose: To make immediate action for suspension
Date of Coverage: 04/06/2021 - 04/07/2021
Tracking no: #SEC-688647504651
L.TAGAPUEN
March 27, 2022, 12:42 a.m.
Hi good day i would like to know for any updates for abra mining suspension in PSE? its almost one year already .
I.GONZALES
March 28, 2022, 8:54 a.m.
March 28, 2022
Dear leo-mar,
Thank you for your request dated Mar 27, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Update for abra mining suspension in pse.
We received your request on Mar 27, 2022 and will respond on or before Apr 16, 2022 12:42:58 AM, in accordance with the Executive Order's implementing rules and regulations.
Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy02ODg2NDc1MDQ2NTEM, for request with ticket number #SEC-688647504651.
Thank you.
Respectfully,
Isma Gonzales
FOI Officer
V.FELIZMENIO, JR.
March 28, 2022, 11:22 a.m.
March 28, 2022
Dear leo-mar tagapuen,
Greetings!
Thank you for your request dated Mar 27, 2022 12:42:58 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
Your Request
You asked for Update for abra mining suspension in pse.
Response to Request
Please be informed that there are pending administrative proceedings involving AR with our Department, and formal charges have been filed against relevant parties. However, since the administrative proceedings are ongoing, we cannot release further information on the matter nor provide a specific timeline for the proceedings, in line with Section 2-4 of the 2016 Rules of Procedure of the Securities and Exchange Commission and the Inventory of Exceptions to Executive Order No. 2, s. of 2016 (or the Executive Order on Freedom of Information), particularly Sections 7(e) and 7(f), to wit:
“Sec. 2-4. Confidentiality of Investigation Proceedings. – Any information, document or records obtained by the Commission in the course of any investigation or examination shall be deemed non-public, unless otherwise required by any other pertinent law or by the Operating Department or the Commission En Banc.”
“7. Records of proceedings or information from proceedings which, pursuant to law or relevant rules and regulations, are treated as confidential or privileged, including but not limited to the following:
e. Result of examinations made by the Securities and Exchange Commission (SEC) on the operations, books and records of any corporation, and all interrogatories propounded by it and answers thereto;
f. Information related to investigations which are deemed confidential under the Securities Regulation Code.”
Kindly note that the ongoing administrative proceedings with the SEC do not preclude other relevant agencies and/or individual investors from filing the appropriate administrative, criminal, or civil charges against AR.
We hope this satisfies your query.
Thank you.
Respectfully,
Vicente Graciano Felizmenio, Jr.
FOI Receiving Officer
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