SEC Facebook

Th
e 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 prim
ary 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 o
f the SRC.
In view there
of, 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
a
bove
–
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 repo
rt 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., 14
th
St., corner Tomasaco del Lara St., Cagayan De Oro
City.
For similar incidents in Me
tro 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,
201
7