Programme Blessing for the Filipino People Association Inc. Posted 22 March 2017

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ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

SEC ADVISORY

March 8, 2017

 

The Commission has received information that an entity named PROGRAMME BLESSING FOR THE FILIPINO PEOPLE ASSOCIATION INC. is operating in CARAGA Region and soliciting money from the public for the registration and/or processing of ATM cards in exchange for receiving FIFTY THOUSAND PESOS (php50,000.00) per month from an international foundation.

The public is hereby informed that PROGRAMME BLESSING FOR THE FILIPINO PEOPLE ASSOCIATION INC. is registered with the Commission as a non-stock corporation under SEC Registration No. CN201621992 on 21 September 2016. There being no secondary license, it is not authorized to solicit investments which require a secondary license as provided under Sec. 8.1 of the Securities Regulation Code (SRC).

The law likewise prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker or dealer or as salesman or associated person of any broker or dealer unless registered as such with the Commission (Section 28, SRC).

Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

In view thereof, the public is advised to STOP INVESTING in this kind of investment activity and to take the necessary precautions in dealing with the above-named entity and/or its representatives.

If you have invested money or were invited to invest in PROGRAMME BLESSING FOR THE FILIPINO PEOPLE ASSOCIATION INC., you may seek the assistance of the SEC – Extension Offices and/or Enforcement and Investor Protection Department (EIPD) of the Securities and Exchange Commission with office address at the North Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call at telephone number 818-5476.

8 March 2017