SEC Issues Advisory Against Skincare Company; Launches Dedicated Help Desk

The Securities and Exchange Commission (SEC) received reports that a number of investors, including teachers, have fallen victim to an investment scam by a cosmetics and skincare company mainly operating in Laguna.​

The SEC is calling on the victims to file a complaint and/or submit any information that will help the Commission build a case against the individuals and groups behind the investment scam and ultimately bring them to justice. The Commission is also opening its offices to provide legal advice and assistance to the victims.

For this purpose, the SEC has activated a dedicated help desk on the ground floor of The SEC Headquarters at 7907 Makati Avenue, Bel-Air, Makati City, where victims may file complaints or seek legal assistance.

The SEC Extension Offices are likewise prepared to provide legal assistance to persons who have engaged with or invested in the cosmetics and skincare company. Alternatively, victims may file complaints with the SEC Enforcement and Investor Protection Department through email at [email protected] with forms from SEC that can be downloaded through their website.

The SEC reiterates its advice to the public to exercise diligence in dealing with entities offering get-rich-quick schemes or promising earnings that appear too good to be true.

The Commission also underscores that registered corporations are not automatically authorized to solicit investments from the public. Under Republic Act No. 8799, otherwise known as the Securities Regulation Code, entities seeking to engage in the business of buying or selling securities, including investment contracts, must secure a secondary license with the SEC. Failure to secure such license shall subject the company, including entities or individuals found to be offering or promoting the same, to the appropriate penalties under the law.

To ensure the legitimacy of the company and the investment products being offered, always make sure to check with SEC through checkwithsec.sec.gov.ph