SEC warns public vs ex-PSE official
Iris Gonzales (The Philippine Star) - December 26, 2015 - 9:00am

MANILA, Philippines – The Securities and Exchange Commission (SEC) has warned the investing public against an individual who used to be connected with the Philippine Stock Exchange.

The SEC’s Enforcement and Investor Protection Department refused to identify the individual allegedly soliciting funds from unsuspecting investors supposedly for investment in PSE-listed stocks under the name of his company.

Under his scheme, he promises a gain of as much as 50 percent for a short period of time.

“Per verification, the said individual is neither a registered salesman nor is his company registered with the commission to take investments from the public,” the SEC said.

The perpetrator has “gained the confidence of the public through the public seminars and lectures on investments in stocks he conducts and represented himself as associated with the PSE and certain registered brokers ,” the SEC noted.

According to the SEC, the scheme employed by the individual appears to constitute fraudulent transactions under Sec. 26 and violation of Sec. 28 of the Securities Regulation Code and its Implementing Rules and Regulations.

ACIRC COMMISSION ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT IMPLEMENTING RULES AND REGULATIONS INDIVIDUAL PHILIPPINE STOCK EXCHANGE PUBLIC REGISTERED SEC SECURITIES AND EXCHANGE COMMISSION SECURITIES REGULATION CODE
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