SEC Issues Cease and Desist Orders Against Firms Soliciting Investments in Manila
What happened
The Securities and Exchange Commission has issued cease and desist orders (CDOs) against three entities for allegedly engaging in illegal solicitation of investments from the public. The orders require the firms to immediately stop selling or offering unregistered securities through investment contracts and to cease their internet presence related to the transactions. The commission stated that the three entities were not registered with the SEC as a corporation or partnership and lacked the necessary licenses to deal with securities.
From philstar.com
Why it matters
The action targets firms found enticing the public with promises of high, guaranteed returns, such as the 8 to 10 percent in 30 days offered by G’s Kicks. The SEC ordered the firms to preserve all assets under their control for the benefit of the investors.
Liberty Flour Mills, headquartered in Manila, is filing a complaint regarding corporate governance issues.
From philstar.com
Who's involved
- Securities and Exchange CommissionGovernment agency that issued the orders regarding investment fraud.
Keep exploring
The entities involved
-
Manila
capital city of the Philippines
-
Securities and Exchange Commission
government agency of the Philippines
Related events
- The SEC proposes changes to margin financing rules in the Philippine capital market.
- The Securities and Exchange Commission requires approval for a capital increase by ABS-CBN.
- A bill allowing foreign investment in cooperatives has been approved, concerning legitimate organizations registered with the Securities and Exchange Commission.
- The Securities and Exchange Commission reiterated a firm's illegal activities while a person attended a gathering in Makati.
- Synchrony Financial filed required reports with the Securities and Exchange Commission on August 16, 2026.