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                    [Title] => SEC finds Urbancorp transactions questionable
                    [Summary] => The Securities and Exchange Commission has found Urbancorp Investment Corp. (UII) to have illegally sourced funds and sold commercial papers not registered with the SEC.


The SEC report also said UII and its mother company, the failed Urban Bank, had the same set of directors and officers in violation of BP 66 which allows such a-set-up only "where the majority or all of the equity of the investment house is owned by the bank."


Urban Bank owns only 40 percent of UII, not enough to consider it majority owned, the SEC report said.


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                    [Title] => BSP, SEC set probe of Urbancorp Investment
                    [Summary] => 

The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange
Commission (SEC) will investigate the transactions of Urban Bank's failed
investment house, Urbancorp Investment Corp., BSP Gov. Rafael B.
                    [DatePublished] => 2000-05-05 00:00:00
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                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
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                    [Title] => Tighter watch on banks, subsidiaries pushed
                    [Summary] => 

With at least two cases of banks questionably supporting the activities of
their investment houses, the Bangko Sentral ng Pilipinas (BSP) is pushing for
the consolidation of the supervision and examination of a bank and its
affiliates to be able to detect any cross-transactions.

BSP Gov.
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                    [Title] => BSP to tighten up on trust licenses
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The Bangko Sentral ng Pilipinas (BSP) will be very strict in the issuance of
trust licenses in the future, according to BSP Gov. Rafael B. Buenaventura.
                    [DatePublished] => 2000-05-02 00:00:00
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URBANCORP INVESTMENT CORP

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                    [Title] => SEC finds Urbancorp transactions questionable
                    [Summary] => The Securities and Exchange Commission has found Urbancorp Investment Corp. (UII) to have illegally sourced funds and sold commercial papers not registered with the SEC.


The SEC report also said UII and its mother company, the failed Urban Bank, had the same set of directors and officers in violation of BP 66 which allows such a-set-up only "where the majority or all of the equity of the investment house is owned by the bank."


Urban Bank owns only 40 percent of UII, not enough to consider it majority owned, the SEC report said.


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The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange
Commission (SEC) will investigate the transactions of Urban Bank's failed
investment house, Urbancorp Investment Corp., BSP Gov. Rafael B.
                    [DatePublished] => 2000-05-05 00:00:00
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                    [Title] => Tighter watch on banks, subsidiaries pushed
                    [Summary] => 

With at least two cases of banks questionably supporting the activities of
their investment houses, the Bangko Sentral ng Pilipinas (BSP) is pushing for
the consolidation of the supervision and examination of a bank and its
affiliates to be able to detect any cross-transactions.

BSP Gov.
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                    [ArticleID] => 98876
                    [Title] => BSP to tighten up on trust licenses
                    [Summary] => 

The Bangko Sentral ng Pilipinas (BSP) will be very strict in the issuance of
trust licenses in the future, according to BSP Gov. Rafael B. Buenaventura.
                    [DatePublished] => 2000-05-02 00:00:00
                    [ColumnID] => 133272
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abtest

SEC finds Urbancorp transactions questionable

November 22, 2000 - 12:00am

The Securities and Exchange Commission has found Urbancorp Investment Corp. (UII) to have illegally sourced funds and sold commercial papers not registered with the SEC. The SEC report also said UII and its mother...

Business

BSP, SEC set probe of Urbancorp Investment

By Marianne V. Go | May 5, 2000 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) will investigate the transactions of Urban Bank's failed investment house, Urbancorp Investment Corp., BSP Gov. Rafael ...

Business

Tighter watch on banks, subsidiaries pushed

By Marianne V. Go | May 2, 2000 - 12:00am

With at least two cases of banks questionably supporting the activities of their investment houses, the Bangko Sentral ng Pilipinas (BSP) is pushing for the consolidation of the supervision and examination of...

Business

BSP to tighten up on trust licenses

By Marianne V. Go | May 2, 2000 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) will be very strict in the issuance of trust licenses in the future, according to BSP Gov. Rafael B. Buenaventura.

Business