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Abstract:Philippine Securities and Exchange Commission (PH SEC) warns against unlicensed investments with DT/Data Technology & BE. Invest wisely; avoid these unauthorized schemes.
Manila, Philippines – The Philippine Securities and Exchange Commission (SEC) has recently issued an advisory to the public regarding the activities of two entities, DT TRADING/DATA TECHNOLOGY TRADING, and BETTER EXPERIENCE (be.), which have been conducting investment solicitations without the necessary authorization and licenses. The Commission is alerting Filipino investors to exercise caution and refrain from investing in these platforms.
Investigations have uncovered that DT TRADING/DATA TECHNOLOGY TRADING and BETTER EXPERIENCE (be.), which have been actively promoting their investment programs on social media, are not duly registered as corporations or partnerships. They lack the necessary licenses to legally solicit investments from the public, as required by the Securities Regulation Code (SRC).
DT TRADING/DATA TECHNOLOGY TRADING FB Page:
Investment Details:
DT TRADING/DATA TECHNOLOGY TRADING claims to provide professional trading assistance and daily investment returns to investors who participate in their trading activities or recruit others to join their scheme. Similarly, BETTER EXPERIENCE (be.), endorsed by Rhemuel Lunio (also known as DJ LOONYO), offers a range of digital applications and services promising high success rates in financial market activities and earning potential through referrals.
BETTER EXPERIENCE (BE) FB Page:
On its official Facebook page Better Experience (BE) it seems that the company is offering online trading that somehow could lead to scam due to its regulatory status.
Both entities exhibit characteristics of an “investment contract,” where profits are expected to be primarily generated from the efforts of others – a classic sign of potential investment scams. The SEC cautions the public to be vigilant against such promises of high returns with little to no risk, which are often indicative of Ponzi schemes. These schemes rely on using new investors' funds to pay earlier investors, creating an illusion of profitability until new recruitment stalls.
The SEC is dedicated to safeguarding the interests of Filipino investors and has clarified that it will not issue a license to sell securities to entities engaged in Ponzi schemes or other fraudulent investment activities. The public is firmly advised not to invest or to stop investing in any offers made by these entities.
SEC Advisory to DT TRADING
The Commission also warns that individuals acting as agents or promoters for these unlicensed entities may face criminal charges with penalties as severe as 21 years of imprisonment and fines up to Php5,000,000.00.
SEC Advisory to Better Experience (BE)
Furthermore, in line with the Financial Products and Services Consumer Protection Act (FCPA), the Commission reiterates that investment fraud, including deceptive solicitation of investments and unlicensed selling of investment schemes, is strictly prohibited and punishable by law.
The SEC encourages the public to conduct due diligence before engaging in any investment. Legitimate investment opportunities come from entities that are properly registered and licensed by the Commission. Investors are urged to check the SEC's official database or contact the Commission to verify the registration and licensing status of entities offering investment opportunities.
For those who have encountered similar schemes or have been approached by representatives of DT TRADING/DATA TECHNOLOGY TRADING or BETTER EXPERIENCE (be.), they are advised to report the incident to the SEC for immediate action.
The SEC remains steadfast in its commitment to consumer protection and will continuously provide updates to the public on such matters. The Commission encourages everyone to download the WikiFX App for convenient access to the latest news and advisories, ensuring investors stay informed and protected even while on the go.
For more information, please visit the official PH SEC website or contact WikiFX support directly.
The Philippine Securities and Exchange Commission (SEC) is the regulatory body charged with supervising the corporate sector, the capital market participants, the securities and investment instruments market, and the protection of the investing public in the Philippines.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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