Date Posted: 9 October 2019
Right Circle Inc
The Securities and Exchange Commission (“Commission”) has received numerous information regarding the activities of RIGHT CIRCLE TRADING INC.Based on the information gathered by the Commission, RIGHT CIRCLE TRADING INC.hasbeen enticing the public to invest in the said entityonline or through the internet via any of its “COMPENSATION PLANS”(“20 days plan” and “30 days plan”) with promised BONUS(Unilevel Outright Direct Referral Bonus). The public is hereby informed that any offering to the public which involves investment of money in a common enterprise with the expectation of profits primarily from the efforts of others, constitutesan investment contract,a form of securities that needs to be registered with the Commission. Thus, the public is hereby WARNEDthat selling or offering for sale of such investmentsare considered as selling or offering for sale of securities subject to the regulatory authority of this Commission. Based on the information gathered, RIGHT CIRCLE TRADING INC.has posted in its Facebook account a Certificate of Incorporation allegedly issued by the Commission dated July 2016. However, based on the records of the Commission, RIGHT CIRCLE TRADING INC.was registered with the Commission as a corporation only on 23July 2019hence,any document allegedly issued by the Commission showing that the subject company was registered earlier than 23 July 2019is FALSIFIED.The publicis further advised thata Certificate of Incorporation only grants an entity juridical personality and the samedoes not constitute an authority or license for the corporation to engage in activities that require a secondary license from the SEC. Note that the registration of RIGHT CIRCLE TRADING INC.with the SEC doesNOT authorize the said entityto offer, solicit, sell or distribute any investment/securities. Such activities requirea Secondary License from the Commission and the securities or investment products to be offeredfor distribution or sale to the public should likewise be registered under Sections 8 and 12 of the Securities Regulation Code (SRC). As such, those who act as salesmen, brokers, dealers or agents of these companies in selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
Hence, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or consequentlysanctioned 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 hereby advisedto exercise caution before investing in these kinds of activities and to take the necessary precaution in dealing with RIGHT CIRCLE TRADING INC. or its representatives. Should you have any information regarding the operation of the subject entities, please call the Enforcement and Investor Protection Department at telephone numbers (02)8-818-6047. For the guidance of the public