SEC to improve registration system to avoid bogus NGOs

MANILA, Philippines - The Securities and Exchange Commission is tightening its application requirements to ensure only legitimate non-government organizations will get its approval. In an interview on DZMM, SEC chairperson Teresita Herbosa admitted there are instances wherein some foundations seeking approval from the SEC do not submit endorsements from government agencies. She added the SEC sometimes approves these applications. The SEC is cooperating with the government probe into bogus NGOs linked to the pork barrel scam. ANC Dateline Philippines, September 4, 2013