This case has been cited 2 times or more.
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2011-06-28 |
CARPIO, J. |
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| This Court has held that the SEC "has both regulatory and adjudicative functions."[69] Under its regulatory functions, the SEC can be compelled by mandamus to perform its statutory duty when it unlawfully neglects to perform the same. Under its adjudicative or quasi-judicial functions, the SEC can be also be compelled by mandamus to hear and decide a possible violation of any law it administers or enforces when it is mandated by law to investigate such violation. | |||||
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2008-06-17 |
QUISUMBING, J. |
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| From the above, it can be said that the SEC's regulatory authority over private corporations encompasses a wide margin of areas, touching nearly all of a corporation's concerns.[12] This authority more vividly springs from the fact that a corporation owes its existence to the concession of its corporate franchise from the state.[13] Under its regulatory responsibilities, the SEC may pass upon applications for, or may suspend or revoke (after due notice and hearing), certificates of registration of corporations, partnerships and associations (excluding cooperatives, homeowners' association, and labor unions); compel legal and regulatory compliances; conduct inspections; and impose fines or other penalties for violations of the Revised Securities Act, as well as implementing rules and directives of the SEC, such as may be warranted.[14] | |||||