TARLAC CITY, Tarlac (Nov. 25, 2023) — The Securities and Exchange Commission – Tarlac Extension Office (SEC-TEO) has solicited the assistance of the local media to disseminate their plans and programs in the first-ever “Kapihan sa SEC.”
SEC-TEO Director Richard Laus said that the public has to be educated about investment scams.
“Here in our area, pakonti-konti lang ang number of investment scams but we would still want to reach out and inform the public on how to avoid getting scammed,” Laus said during the Kapihan.
There are a total of 93 scam advisories released to the media this year, most of whom involve illegal investment schemes.
Just recently, the SEC-TEO rolled out an investor education roadshow to promote financial literacy against illegal investment schemes.
The regulatory agency said that the following are red flags of investment scams:
- Too good to be true (promising higher returns; “risk-free investment”)
- No SEC primary registration (Certificate of Incorporation)
- No SEC secondary license to solicit investments from the public (Certificate of Authority)
- Sales agents offering investment are not registered or licensed to the SEC
- No receipt given to clients and no available office
Tarlac Press and Radio Club (TPRC) President and Manila Times Correspondent Jerry Hernandez said that the Tarlac media will support the SEC’s campaign.
“The local press is happy to form a partnership with the SEC. Just send us your press releases and we will disseminate them on all our available platforms,” Hernandez said.
The TPRC has members in the radio, TV, online, and social media industries.
The SEC-TEO has jurisdiction over Regions 2 and 3, covering the provinces of Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales in Region 3 and Batanes, Cagayan, Isabela, Nueva Vizcaya, and Quirino in Region 2.
As of February 2023, there are a total of 66,527 active corporations in Central Luzon, 5,388 of which are in Tarlac.