Following the advisories released by the Securities and Exchange Commission (SEC), the Davao City Anti Scam Unit advised the public to avoid transactions with various business entities that offer different investment schemes.
During the Ronda DCDR program over the city-owned Davao City Disaster Radio on Wednesday, Anti-Scam Unit Head PCol. Simplicio Sagarino (Ret.) said that the SEC recently released advisories informing the public of 30 unauthorized entities that solicit investments without a license since September.
“Thirty ni sila kabuok gihatag sa atoa sa SEC nga naa’y advisory (SEC gave us an advisory for these 30 entities),” he said.
Sagarino also urged the public to reach out to SEC Davao and inquire about the validity of entities that offer investment schemes. He also reminded Davaoeños on what to look for to determine the legality of offers for investment.
“Ang maayo gyud buhaton sa atoang mga katawhan, mutawag sila or mukontak sila sa atoang SEC, naa man ta’y SEC office diri sa Davao, mangutana sila kung naa ba gyud ni sila’y mga secondary clearance. Kanang secondary clearance nagatugot man na sa investment. Sunod, naa ba na sila’y mga opisina nga kaadtoan sa mga tao ka’y basi’g online lang wala diay opisina. Sunod naa ba na sila’y mga permit sa local government: BIR, sa national government, sa local kaning business permit; kay para pud masuta nato kung legitimate na siya, basi’g illegitimate na so makabantay ‘tang tanan. (What the people should do is to contact the SEC, we have an SEC office here in Davao. They should inquire whether or not the entity has a secondary clearance, which allows investment. Next, the entity must have an on-site office that the people can visit; and they must also have the necessary permits from BIR and local business permit. These would allow us to ensure the legitimacy of the entity).” he said.
Details of the SEC advisories can be found on the Facebook page of the Davao City Anti Scam Unit, as well as the SEC website: https://www.sec.gov.ph/investors-education-and-information/advisories/#gsc.tab=0 CIO
