Tag Archives: Davao Extension Office

SEC-DEO to public: Watch out for scammers using games, franchise programs to solicit investments

DAVAO CITY — The Securities and Exchange Commission-Davao Extension Office (SEC-DEO) has warned the public that some scammers at present are not only taking advantage of the vulnerability of those who are looking for investment vehicles, but have used all forms and means (including games and franchising programs) just to defraud the public. “Illegal investment companies may have different business names, but the

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SEC ADVISORIES: JAMSMART, SOLMAX GLOBAL LIMITED and IGNITER 100, ROYAL O FINANCIAL CONSULTANCY SERVICES, & BITACCELERATE

The Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses. For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/ The SEC Davao Extension Office has verified the existence of: 1.     JAMSMART in DAVAO DE ORO 2.     SOLMAX GLOBAL LIMITED and IGNITER 100 within our AOR (Tagum City, Davao Region

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SEC-DAVAO URGES NON-PROFIT ORGANIZATIONS TO FOLLOW NEW MDF SUBMISSION GUIDELINES

DAVAO CITY — The Securities and Exchange Commission-Davao Extension Office (SEC-DEO) has urged non-profit, non-stock corporations take note of the new guidelines on the submission of the Mandatory Disclosure Form (MDF) that the Commission recently released. Under the notice posted on the SEC website on June 9 (http://www.sec.gov.ph/wp-content/uploads/2020/06/2020Notice_MDF-Submission-Guidelines.pdf), the online link for filling out the MDF (https://forms.gle/KF4iBSimLKvChCwRA)shall be accessible to the public

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NOTICE: SEC urges lending and financing companies anew to extend debt relief to borrowers

The Securities and Exchange Commission (SEC) is again calling on lending companies, financing companies and microfinance non-government organizations (NGOs) to provide relief to their borrowers while the economy gradually reopens. In a notice dated June 11, the Commission “strongly encouraged” lending companies, financing companies and microfinance NGOs to implement debt relief measures such as lowering of interest rates, waiver or

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PRESS RELEASE: SEC asks Corporations to step up Cybersecurity

The Securities and Exchange Commission (SEC) has advised corporations to strengthen their cyber-security as more Filipinos turn to digital transactions amid the COVID-19 pandemic. The Commission on June 9 issued a notice encouraging corporations to assess their exposure to cybersecurity risks and craft the appropriate policies and measures, in light of recent reports of hacking incidents.   “Digital transformation benefits

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SEC-DAVAO TELLS PUBLIC: Stop dealing with Crowd1 personalities

DAVAO CITY — The Securities and Exchange Commission – Davao Extension Office (SEC-DEO) has warned the public against dealing with a certain Ronnie John Dohina Barrientos who has been inviting the people into investing in Crowd1. The warning came about as the Commission’s Enforcement and Investor Protection Department (EIPD) flagged Barrientos, who is reportedly based in General Santos City, for actively

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PRESS RELEASE: SEC REITERATES MANDATORY GRACE PERIOD FOR ALL LOANS, WARNS ERRING LENDERS OF LEGAL CONSEQUENCES

The Securities and Exchange Commission (SEC) has reiterated its directive for all financing and lending companies to provide borrowers more time to settle loans falling due within the enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ) period. In an advisory issued on May 20, the Commission reminded financing and lending companies to strictly comply with Section 4(aa) of

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SEC TELLS PUBLIC TO INVESTIGATE BEFORE INVESTING AS SCAMMERS RIDE ON COVID-19 PANDEMIC

The Securities and Exchange Commission (SEC) underscored the importance of exercising due diligence before investing to avoid falling into a scammer’s trap, as it named four more groups engaging in unauthorized investment-taking activities. In separate advisories issued on May 7, the Commission warned the public against dealing with individuals or groups representing and promoting the Bayanihan Program of Billy Ford

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