The Philippine Embassy in Brunei Darussalam informs the Filipino Community that the Securities and Exchange Commission (SEC) has posted in its website (www.sec.gov.ph) several advisories warning the public about several illegal investment-taking activities. The SEC strongly advises Filipinos to be more cautious of the rampant promotion and marketing of these unlawful Ponzi schemes and/or investment frauds circulating publicly and online.

The advisories pertain to both registered entities, entities registered with the SEC although not authorized to solicit investment from the public as it has not secured the necessary secondary license or permit from the Commission as required under Sections 8 and 12 of the Securities Regulation Code (SRC); and unregistered entities, entities neither registered as a corporation or as a partnership with the SEC. Unregistered entities have also not been issued secondary licenses as brokers and/or dealers of securities, as dealers in government securities (such as treasury bills and treasury bonds), and as investment advisers of an investment company, investment house or transfer agent. Unfortunately, some of the victims of these Ponzi schemes are Overseas Filipino Workers (OFWs). For the list of illegal investment-taking activities please click below: