My Community E-Commerce System Inc. also known as My Community Credit Cooperative Posted 29 December 2017

SEC ADVISORY

            The Commission has received report through its Cagayan De Oro Extension Office that a certain company My Community E-Commerce System Inc. also known as My Community Credit Cooperative is engaged in soliciting investments from the public, where an investment of Money will earn a Compounded 5% monthly interest to be paid annually. Further, the company is engaged into lending activities without Certificate of Authority from the Commission.

Based on the records of the Commission, My Community E-Commerce System Inc. is registered as a Non-stock and Non-profit association with the Commission with SEC Registration No. CN201626445. The registration with the Commission only pertains to the primary license of a corporation which gives it juridical personality but is not authorized to solicit investments which activity require a secondary license as provided under Section 8.1 of the Securities Regulation Code.

 

Those who act as salesmen, brokers, dealers or agents of My Community E-Commerce System Inc. in selling and convincing people to invest in the investment scheme being offered by My Community E-Commerce System Inc. including doing solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of FIVE MILLION (5,000,000.00) PESOS or a maximum penalty of TWENTY ONE (21) years imprisonment or BOTH  pursuant to Section 73 of the SRC.

 

In view thereof, the public is hereby advised to exercise self-restraint from investing their hard earned money into such high yield high-risk investment scheme and to take the necessary precaution in dealing with individuals representing the above-named entity.

 

If you have invested or have been approached or invited to invest in this kind of scheme, please go to our website at www.sec.gov.ph where you may report through the Commission’s iMessage mo or report the matter to our Cagayan De Oro Extension Office at telephone numbers (088) 857-4325 and (088) 857-7225 or visit our Cagayan De Oro Extension Office at SEC Bldg., 14th St., corner Tomasaco del Lara St., Cagayan De Oro City.

 

For similar incidents in Metro Manila, you may contact our Enforcement and Investor Protection Department at telephone numbers (02) 818-6337 or (02) 818-5476 or visit us at our office located at the North Wing Hall, ground floor, Secretariat Bldg., PICC Complex, Pasay City.

 

Pasay City, December 28, 2017.