Date Posted: 31 August 2018
Information received and verified by the Commission disclosed thatFacebook posts of theOfficers, Incorporators, Board of Directors, and other members and employees of YEHEEY ITRAFFIC SYSTEM INC. (“YEHEEY”), madeit appear the YEHEEYwasalready“cleared” by the Commissionafter voluntarily appearingat the Enforcement and Investor Protection Departmentto “clear/disprove” the SEC Advisory issued against YEHEEY.Contrary to what the officers of Yeheeywas trying to convey, the pictures showed the Officers, Incorporators, Board of Directors, and other members and employees posing with the SEC flag/logo at the PICC lobby as well as taking aselfie at the Function Room A (2ndFloor) where conference with EIPD was conducted. The mere appearance at the SEC Office is not equivalent to the lifting of the Advisory issued against YEHEEY.Finding no sufficient justification at this point to lift the Advisory against Yeheey, the public isherebyadvised that saidAdvisory REMAINS VALID AND STILL IN EFFECT.The appearance of Yeheey’s officers/incorporators/members of the Board of Directors/employees/membersbefore the EIPD is merely in the nature of a clarificatory conference where Yeheeystated the company’s position on the matter.To set the record straight, this Commission reiterates its official Advisory, that while YEHEEYis registered with this Commission as a corporation, however, it is NOT authorized to solicit investments from the publicas it has not secured the necessary license or permit from the Commission as required under Sections 8 and 12 of the Securities Regulation Code (SRC).Any person who is acting as an agent, salesman, investment solicitor, promoter, endorser of investment solicitation, for and in behalf of YEHEEY, is also required to secure the appropriate license from the SEC before engaging in such investment solicitation.Any public offering or solicitation of investment in the Philippines without the prior license or permit from the SEC is strictly prohibited by law and may be penalized by imprisonment and/or fine. There is no distinction whether the investment offering is made through the internet or in a commercial or public place as long as the investment solicitation is indiscriminately offered to the public in general within this jurisdiction. For the guidance of the public.