Aside from Freedom Traders Club (FTC), the Securities and Exchange Commission (SEC) issued separate advisories against four more online investment firms due to absence of necessary permits to operate in the Philippines. One of the company on the list, Purewealth (Purepound) has a scheduled promotional event in Cagayan de Oro on September 1.
In its advisories, SEC maintained that the following companies are “not authorized to solicit investments from the public.” Click on the link to download the Advisory.
- Crypto Expert Inc. (CyptoExpert Trading or CryptoExpert: Mutual Funds and Trading Expert) – SEC ADVISORY posted August 1, 2018
- Paysbook E-Commerce System Co. Ltd (Indigen Coins) – SEC ADVISORY posted August 1, 2018
- Freedom Traders Club (Ploutus Coin) – SEC ADVISORY posted July 13, 2018
- Purewealth EBC Corp. (Purepound) – SEC ADVISORY posted August 1, 2018
- Yeheey Itraffic System Inc. – SEC ADVISORY posted August 1, 2018
Meanwhile, here’s SEC Advisory on Initial Coin Offerings. – SEC ADVISORY posted January 8, 2018
The SEC urged anyone who has knowledge or information about any business transaction involving these securities or investment opportunities to report such activity so that appropriate actions could be taken through the Enforcement and Investor Protection Department at (02)818-6337 or (02)818-6047 or email at email@example.com.
Here’s a screenshot of SEC’s webpage of its advisories.
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