In broad strokes, the short-swing profits rule provides that any profit realized by insiders of an issuer from the purchase and sale, or any sale and purchase, of any equity security of the issuer within any period of less than six months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the issuer (Section 23.2, Securities Regulation Code).
Early this month, President Duterte laid down the law, so to speak, and threatened to shut down the entire island of top tourist destination Boracay for its continued environmental problems.
In a recent order, the Securities and Exchange Commission (SEC) directed four of businessman Joseph Calata’s companies to cease and desist from engaging in the initial coin offering (ICO) of Krops tokens, also referred to as kropcoins.
As of this writing, one bitcoin is already equivalent to $10,338. Late last year, it reached an all-time high of $19,783.06. Still, it was a meteoric rise from just $2.00 in December 2011.