SEC fines Bright Kindle Resources for using wrong website template

The Securities and Exchange Commission (SEC) has fined Bright Kindle Resources and Investments Inc. (BKR) for not following the website template for publicly-listed companies, BKR said Thursday.

In a regulatory filing submitted by BKR corporate secretary Diane Madelyn Ching, the company said it received a letter from the SEC on December 5 directing BKR to comply with the website template requirement and to pay a P51,000.00 penalty.

SEC’s Memorandum Circular No. 11, Series of 2014, prescribes a website template for all publicly-listed companies “to promote a better corporate governance environment.”

The company said it will do its utmost to comply with the SEC memo. It also intends to ask the commission for a reconsideration of the penalty. —Ted Cordero/VDS, GMA News