September 26, 2019
SEC EN BANC CASE NO. 12-13-312
HERNANDO VITAS and JACQUES FILIBA DE ROMI, complainants-appellants, vs. PAPA SECURITIES CORPORATION AND IGNACIO JOSE SORIANO, respondents-appellees.
DECISION
Before the Commission En Banc (Commission) is the Memorandum on Partial Appeal 1 filed by Hernando Vitas (Vitas) and Jacques Filiba de Romi (De Romi), collectively referred to as complainants-appellants, appealing the Decision 2 of the Capital Markets Integrity Corporation Board (CMIC Board) which affirmed the Decision 3 rendered by officer-in-charge Daisy Arce (OIC Arce).
THE PARTIES
Vitas is of legal age and a Filipino citizen while De Romi is of legal age and a Spanish national. De Romi is being represented by his attorney-in-fact, Vitas, evidenced by Special Power of Attorney. 4
Respondent-Appellee Papa Securities Corporation (Papa Securities) is a corporation registered with the SEC with SEC Registration Number 0000087873 and with a secondary license to act as broker/dealer of securities. 5 Its primary purpose is to engage in the business of stock and bond brokers and dealers in securities and in all activities directly or indirectly connected therewith or incidental therein.
Respondent-Appellee...
