SEC Report: Seven investment companies in Palawan not certified

 Following the recent investment scam controversy in the province, the Palawan office of the Department of Trade and Industry (DTI) released today, July 26, the Securities and Exchange Commission’s (SEC) official report on the certification status of the seven companies caught up in the issue. Based on SEC reports dated July 15, the investment companies operating in the province have not registered any securities pursuant to Section 8 and 12 of the Securities Regulation Code.

Based on a certification released by Vicente Graciano Felizmenio, Jr, Director of the Commission’s Market and Securities Regulation Department, the following companies do not have registered securities with SEC, nor permitted to sell ones: Real Techno Trading, Infinite Gold Marketing (IGM), Abrilliance Power Trading, All Access Gateway Incorporated, Palawan Entre-Business and Company (Pal-Eco) and Innov8 Beauty and Wellness (Innov8).

Meanwhile, the SEC’s Company Registration and Monitoring Department, through a memorandum order issued by Director Ferdinand Sales, declared that My Super Saver Company Limited has not been issued any secondary license as broker and/or dealer of securities, dealer in government securities, investment adviser of an investment company, investment house and transfer of agent. The Commission also certified that MSS has no pending application regarding such license.

As of this writing, IGM, Innov8, Abrilliance and Pal-eco have already stop their operations.

DTI-Palawan Provincial Director Rosenda Fortunado reminded the general public that “We must learn our lessons, paulit-ulit na lang ‘to.”

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