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MANILA, Philippines — The Philippines is set to host the largest International Surfing competition in the nation’s history in 2024, following the resounding success of the 27th Siargao International Surfing Tournament held in October last year.
KUALA LUMPUR, Malaysia — McDonald's Malaysia has sued a pro-Palestinian group for $1.3 million over its calls to boycott companies allegedly supporting Israel.
The Capital Markets Integrity Corp. (CMIC) [link] has proposed amendments to the CMIC Rules to give the CMIC more “latitude” in imposing sanctions on trading participants and a “freer hand” in exempting trading participants from the imposition of those sanctions under certain circumstances. The main amendments are to Section 4 - Types of Sanctions, which would: (1) insert a second level of monetary sanctions between the small fines for a “first violation” and the imposition of a denial of trading rights and access to trading infrastructure for a “second violation”; (2) add a new sanction type called “disgorgement”, which would allow CMIC to seek damages equivalent to up to twice the value of “any gains unlawfully obtained”; and (3) increase the minimum fine for a fourth “major” violation to P100,000. CMIC said that the rule changes are intended to support its stated policy of “minimizing, if not totally eliminating insider trading” and “manipulation” that creates “distortions in the free market.”