SEC-Cebu collections reached P96.9M in 2015

CEBU, Philippines - The Securities and Exchange Commission-Cebu raked in collections worth P96.9 million last year, bulk of the amount came from registration filing fees.

Data provided by SEC-Cebu showed that the 2015 collection was down 31 percent from P140.4 million it collected in 2014.

 Last year, SEC-Cebu collected P84.7 million worth of registration, amendment and filing fees.

 It also raked in fines and penalties worth P8.1 million, P863,568 in legal research fees and P3.2 million in miscellaneous income.

 Income from registration, filing and certification fees accounts for more than 75 percent of SEC's earnings.

 Other income sources of SEC include license fees of securities brokers and dealers and penalties collected from erring entities.

 In 2015, SEC-Cebu registered a total of 2,121 local corporations and partnerships, posting a 9.10 percent increase from 1,944 in 2014. (FREEMAN)