Barclays Group, Inc., New World Financial Group Ltd.

B E ...... .....- REPUBLIC OF THE PHILIPPINES DEPARtMENt OF FINANCE SECURITIES AND EXCHANGE COMMISSION COMPLIANCE AND ENFORCEMENT DEPARTMENT City of Mandaluyong. Metro Manila SEC Building. EDSA, Greenhills T IN THE MATTER OF BARCLAYS GROUP,INC. and NEW WORLD FINANCIAL GROUP LTD. CED Case No. 01-2601 GREEIINGS v BARCLAYS GROUP, INC. MNAM 18th Floor, Pearl Bank Center, Valero'St. Salcedo Village, Makati City Metro Manila E NEW WORLD FINANCIAL GROUP LTD. Attn.: I8th Floor, Pearl Bank Center, Valero St. Salcedo Village, Makati City Metro Manila ENRIQUE B. CLEMENTE Resident Agent Gentlemen: the above-entitled case dated.April 10, 2001. Transmitted to you herewith is a copy of the ORDER of the Commission on n Please acknowledge receipt hereof. Mandaluyong City, April 10, 2001. * T LORENZA S.OBLIMAR Records -in- Charge :e K0# ...1 SECURITIES AND EXCHANGE COMMISSION COMPLIANCE AND ENFORCEMENT DEPARTMENT SEC Building,EDSA,Grecnhills,City bf Mandalu Republic of thic Philippines Yone NEWWORLD FINANCIAL BARCLAYS GROUP, INC. and IN THE MATTER OF GROUP'LTD. CED Casc No. 01-2601 ORDER claimed that he has been defrauded of his investments in foreign currency in connection with the subject corporations' dealing/brokering activities. GROUP,'INC. and NEW WORLD FINANCIAL: GROUP LTD. The complainant Subject of complaint from MR. PETER JOHN |RUPPERT is BARCLAYS investment solicitation and foreign securities Commission on July 11, 2000 under SEC Registration No. A200010599, the purpose of which is: Records show that BARCLAYS GRQUP,:INC. is duly registered with the information technology/research. "to engage in the business of local/international investments: Representative Office on April 13, 2000 under the License Number A200006076. NEW WORLD FINANCIAL GROUP LTD., on the other hand, is duly registered as a dated April 4, 2001 shows that BARCLAYS'GROUP, INC. was never Iicensed to engaged as broker/dealer of seourities. Certification issued by the Market Regulation Department of this Commission promotion of the company's products as well as quality control of products. under the law, limited power which' consists of information dissemination and NEW WORLD FINANCIAL GROUP LTD., being a representative office has. public as its articles of incorporation as approved by the Commission do not show the inclusion of such business purpose. Likewise, subject corporations are not authorized to solicit investmenits from the E investment in order to safeguard and protect the interest of the investing public in general. have not been issued a license to engage in the buying or selling of securities and considering the serious nature of the misrepresentation committed and the commission of "ultraivires" act, there is an urgent necessity to restrain or enjoin subject corporations from engaging in the business of broker/dealer in securities and in the solicitation of As BARCLAYS GROUP, INC. and NEW WORLD FINANCIAL GROUP LTD acting under their authority are hereby ordered to CEASE AND DESIST from soliciting and sell shares of stock or other form of securities or otherwise engage in the business of by iaw, BARCLAYS GROUP, INC! and NEW WORLD FINANCIAL GROUP LTD.,itheir officers, directors, agents, representatives and any or all persons claiming and and or accepting money for investment purposes and also -from accepting orders to buy a broker/dealer in securities. i WHEREFORE, pursuant to the power and authority vested to the Commission within five (5) days from receipt of this Order, file a formal request for the lifting thereof. In accordance with law, the above specified persons subject of this Order, may, FURTHER, pursuant to the authority of the Commission under the law, MR. FREDDIE G. AGSALON MR. CARLOS E. PALILEO ATTY. MA. MARTINELLI R. JANOLO accounts of any or all of the subject corporations as may be necessary for the proper disposition of the case, subject to the provisions of existing laws, which documents te securities transactions of the subject corporations, and to perform other acts necessary in the conduct of such investigation or proceeding. are hereby authorized to issue subpoenaiduces tecum and summon witnesses to appear in any proceedings of the Commission and in appropriate cases, order the examination, search!and seizure of all documents, papers files and records, tax returns, and books of include, but not limited to the original or copies or documents related or pertaining to the : preseritation of this Order: hereby directed to make available all the pertinent records pertaining to securitics BARCLAYS GROUP INC. and NEW WORLD FINANCIAL GROUP LTD. are transactions and books "of accounts, specifically described hereunder,' upon Pursuant to this Order,:the officers and other responsible employecs of : 7 2 1 client identification details/records; telephone and fax:bills :of the telephones and fax machines in the offices (statement of.:accounts);t bank account detaiis of the subject corporations (bank books); 4 client transactions records; 5 brochures: G copics : of': emails) and other communications on share originals or copies of stock certificates; transactions; C 8 9 commission statement details of the brokers working in the identity documents of pcople participating in the boiler room; 1 10. 12 the Commission. 'salary statements of brokers and staff working at the offices; corporations acted in violation of thcir actual registration with details of payments to subject corporations; boiler room; : other pertinent documents showing that the subject matter in accordance with law. Failure to do so will .constrain this Commission to take appropriate action on this SO ORDERED. i Mandaluyong City, Metro Manila. April 10, 2001. FOR THE DEPARTMENT Complaints and Investigation Division ATTY: FERDINAND A. JUGO Securities Counsel ATTY. MA-EMMA A. VALENCIA Inspection and Surveillance Division Securities Counsel a + L