SEC warns of ‘scammers’

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  • CHERYL G. CRUZ

The Securities and Exchange Commission (SEC) is warning the public against entities on the social media site Facebook, by the names of SEC Registration Assistance and SEC Registration Assistance Support, that have been collecting fees in exchange for services that are given for free by the Commission, and have been using the official SEC logo in their social media posts.

“The SEC is not, in any way, connected or affiliated with SEC Registration Assistance, SEC Registration Assistance Support, or other entities offering similar services,” the agency’s advisory said, adding that processing for company registration at the SEC is readily available online through the SEC Electronic Simplified Processing of Application for Registration of Company or eSPARC.

Payments for transactions with the SEC must be made through the official payment channels at the SEC main office in Pasay City, through the Land Bank of the Philippines branches, or online through the Electronic System for Payment to SEC or eSPAYSEC.

The advisory added that the Commission has not recognized or authorized the use of the official SEC logo by these entities. “Any unauthorized use or appropriation for business or personal exploitation thereof by individuals or entities without written permission, endorsement, or approval by the Commission shall be severely dealt with by law and may incur criminal liability or otherwise sanctioned or penalized accordingly.”

It urged the public to exercise caution in dealing with any individual or group of persons who use the official SEC logo in their social media accounts. The public is further advised or discouraged not to transact in any activities or services being offered by these entities and to transact or communicate concerns about SEC matters only through the official SEC website at www.sec.gov.ph, or through Facebook: https://www.facebook.com/PhilippineSEC, Twitter: https://twitter.com/SEC_Philippines, Youtube: https://www.youtube.com/c/SECPhilippinesOfficial, or TikTok at https://www.tiktok.com/@sec_philippines./CGC