THE Securities and Exchange Commission (SEC) has issued a warning to the people against a group that allegedly uses President Ferdinand Marcos Jr.'s name in investment solicitations.
THE Sec urities and Exchange Commission has issued a warning to the people against a group that allegedly uses President Ferdinand Marcos Jr.'s name in investment solicitations.In a statement, SEC advised the public to avoid engagements with Bagong Bansang Maharlika International, Inc. — a group whose corporate registration has been revoked due to its illegal solicitation of investments.
emphasized that those who act as salesmen, brokers, dealers or agents, representatives and promoters of unauthorized investment activities may be held criminally liable under Section 11 of Republic Act 11765, or the Financial Products and Services Consumer Protection Act, as well as under Section 28 of Republic Act No. 8799, or the Securities Regulation Code, which are both penalized separately up to P5 million, or imprisonment of up to 21 years, or both.
Warns Vs Group Using Marcos' Name
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