Arthur Fuentes

Logo of the Securities and Exchange Commission (SEC)  in this photo taken on June 22, 2023. Jonathan Cellona, ABS-CBN News

Article (news)

SEC 

Benise Balaoing

ABS-CBN News

<p>MANILA -- The Securities and Exchange Commission (SEC) said it is monitoring the situation of listed firm Global Ferronickel Holdings chairman Joseph Sy. </p><p>Sy was arrested by the Bureau of Immigration for allegedly misrepresenting himself as a Filipino citizen.</p><div><a href="https://www.abs-cbn.com/news/business/2025/8/25/mining-group-calls-for-release-of-businessman-held-by-immigration-1939" rel="noopener noreferrer" target="_blank">Mining group calls for release of businessman held by Immigration as senator likens him to Alice Guo</a></div><p>The SEC said it is monitoring the executive&#x27;s situation given his role as chairman of a publicly listed company.</p><p>&quot;Any action taken by the SEC on the matter will be in line with promoting transparency and confidence in the markets, especially matters that affect the governance of publicly listed companies,&quot; the securities regulator said.</p><p>The commission said it is commitment to upholding the interests of the investing public and ensuring that the integrity of the capital market.</p><p>Global Ferronickel had earlier said that Sy is a Filipino citizen, as affirmed in multiple rulings by government
agencies like the Bureau of Immigration, the Department of Justice, the Office of the
President, the Securities and Exchange Commission, and the Supreme Court.</p><p>The company also said Sy presented his Philippine passport--an official
proof of his Filipino nationality--when he arrived.</p><p>&quot;As the Supreme Court has emphasized, a passport carries the solemn authority
of the Republic, recognizing its bearer as a Filipino citizen and commanding protection accordingly,&quot; the firm said.</p><p>&quot;To deny
this is to disregard the authority of the law itself,&quot; it stressed.</p><p>Global Ferronickel also denied Sy&#x27;s alleged involvement in criminal activities.</p><p>&quot;On the contrary, he is a longstanding, multi-awarded business leader whose
philanthropic initiatives and corporate endeavors have created livelihood opportunities and socio-economic
infrastructure for communities,&quot; it said.</p><p>Global Ferronickel assured its stakeholders that its operations remain stable, unaffected, and fully compliant with all applicable regulations as Philippine authorities look into Sy&#x27;s case.</p><p>&quot;FNI remains steadfast in its commitment to integrity in business, operational stability, and the protection of
shareholder interests,&quot; it said.</p><div><strong>RELATED VIDEO:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/3aZ5OGjTGOs?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Global Ferronickel Holdings Inc. said the allegation that its chaiman Joseph Sy is an "overstaying alien" is "without legal basis."</p>

Global Ferronickel Holdings Inc. said the allegation that its chaiman Joseph Sy is an "overstaying alien" is "without legal basis."

SEC says monitoring case vs Global Ferronickel chairman

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SEC says monitoring case vs Global Ferronickel chairman

Benise Balaoing,

ABS-CBN News

Published Aug 26, 2025 05:10 PM PHT

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Joseph Sy

Global Ferronickel

SEC

Securitied and Exchange Commission

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