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SEC sets rules in fight vs money laundering


 
SEC Memorandum Circular No. 1, issued on January 27, 2021, provides the Guidelines in Preventing the Misuse of Corporations for Illicit Activities through Measures designed to Promote Transparency of Beneficial Ownership (BO Transparency Guidelines).
 
The measure includes the disclosure of the identity of the beneficial owner or the person or persons who ultimately owns or has ultimate effective control of the corporation.
 
“There are arrangements that allow individuals to assume a management or ownership position in behalf of their principals and in turn hide the identity of the beneficial owner. We can see that this is not ideal because it exposes the corporations to the risk of being misused for illegal activities,” SEC-Cebu Extension Office Counsel I Lawyer Giness Marie R. Teves said Tuesday, March 10. ....

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Global Anti-Drone Market to Reach $2.4+ Billion by 2025, Featuring Profiles of SRC, Raytheon Technologies, Lockheed Martin and Others


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The global anti-drone market was worth USD 624 million in 2019 and is projected to reach USD 2,441 million by 2025; growing at a CAGR of 32.2% from 2020 to 2025. The shipment of anti-drones was 1,071 units in 2019 and is projected to reach 4,684 units by 2025; growing at a CAGR of 34.7% during the forecast period.
Major factors driving the growth of this market are increasing use of drones terrorism and illicit activities worldwide and rising incidences of security breaches by unidentified drones.
The military & defense vertical to hold the largest share of the anti-drone market during the forecast period ....

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