The Securities and Exchange Commission (SEC) is calling on the public to secure their financial future by becoming smart investors and not become victims of scams.
The commission issued this call as it joins the celebration of World Investor Week, a global campaign by the International Organization of Securities Commissions (IOSCO) that encourages securities regulators to put a spotlight on efforts to promote investor protection.
This year’s theme focuses on sustainable finance and the prevention of frauds and scams.
“The SEC is pleased to take part in this year’s World Investor Week, taking cues from the IOSCO’s mission to boost financial literacy in order to promote sustainable economic growth and prevent the spread of scam and fraud among the investing public,” SEC Chairperson Emilio B. Aquino said.
He added that, “We recognize the importance and continue to strive for a scam-free financial environment, which will only be possible if we work together with the public in exposing and avoiding fraudulent schemes.”
As of October 5, the SEC has issued 87 advisories against groups and individuals who have been soliciting investments from the public without the necessary license from the Commission. A total of 126 and 50 advisories were issued in 2020 and 2019, respectively.
The Commission has also issued four cease-and-desist orders against 15 groups and individuals, including Chiyuto Creative…