Davao City – The Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses.
The so-called investment firms included in the SEC advisory are:
- JUAN SAVINGS
- 1 HEAL 1 WORLD TRADING
- KAIZEN MARKETING ENTERPRISE
- BITFINANCEINVESTMENT.LTD
JUAN SAVINGS, which is claiming to be engaged in a legitimate forex trading business and has its own professional traders, has NOT been issued a license by the SEC. Moreover, the Commission does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Difference (CFDs) and other similar derivatives nor their merchants/brokers as the pertinent rules governing these securities remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulation of the SRC.
1 HEAL 1 WORLD TRADING and CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES (“CCWDFS”) are not registered with the Commission either as a corporation or as a partnership and is not authorized to solicit investments from the public.
Meanwhile, the scheme of KAIZEN MARKETING ENTERPRISE through its CEO program, with its focus on recruitment, is undoubtedly a PYRAMIDING SCHEME masquerading as a Multi-Level Marketing program and therefore, involves the offer and sale of securities in the nature of investment contract to the public.
BITFINANCEINVESTMENT.LTD, which offers guaranteed, risk-free investments plans purportedly to be invested in cryptocurrency trading, is NOT REGISTERED with the Commission and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities.
BITFINANCEINVESTMENT.LTD is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal. Likewise, its name DOES NOT APPEAR among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP).
The public is guided not to engaged in these mentioned firms. For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/ (Rudolph Ian Alama with reports from SEC Davao Extension Office)
(Source: Philippine Information Agency)