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247STOCKTRADEFX
247STOCKTRADEFX is NOT REGISTERED with the Commission and is NOT AUTHORIZED to solicit, accept or take investments/placements from the public

Date Posted: 15 July 2021

247STOCKTRADEFX

247STOCKTRADEFX

SEC Facebook

Based on information gathered by the Commission
,
the
e
n
tity
operating under
the name
247
STOCKTRADEFX
with Head office
supposedly
at Liverpool, Australia
is
soliciting investments in the Philippines
WITHOUT
THE NECESSARY LICENSE
AND/OR AUTHORITY
from the Commission
through the assistance of its supposed
brokers accounts managers, agents and/or representatives that
appears
to be
using
synthetic or fraudulent identities
, a
mong those identified are
BLESSING CHIMA
,
MARYAM M. YAU
,
and
ITZ OSMANEH
.
247 STOCKTRADEFX
is offering a number of account types or investment
schemes apparently promising huge bonuses,
trading
tools, and assistance to
increase assured profit potential
and even guarantees a pre

determined
or passive
pay

out
which seems to be
dubious and

too good to be true
.”
To wit
:
Hence, since what are
being offered by
247
STOCKTRADEFX
are securities,
Section 8 of the
Securities Regulation Code
(SRC) requires that all offers and sales of
securities must be duly registered with the Commission
and that the concerned
corporation and/or its agents have appropriate registration and/or licens
e to sell such
securities to the public
.
However, b
ased on
our records,
247
STOCKTRADEFX
is
NOT
REGISTERED
with the Commission and
is
NOT AUTHORIZED
to solicit, accept or take
investments/placements from the public nor to issue investment contracts and
other
forms of securities defined under Section 3 of the SRC
in the Philippines
.
Also,
n
one of their
purported
brokers, account managers,
agents,
and/or
representative
have
appropriate registra
tion and/or license to
offer or
sell
securities to
the public
.
Our records likewise show that
247
STOCKTRADEFX
operates
its
digital
exchange platform
in the Philippines
without
the
proper registration with the
Commission relative to Section 32 of the SRC on the “Prohibition on Use of
Unregistered Exchange
.

Similarly
,
247STOCKTRADEFX
is not a registered Virtual Asset Service
Provider (VASP)
with the Bangko Sentral ng Pilipinas
and does not have a
corresponding Certificate of Authority as a Money Service Business as required under
Circular No. 1108, series of
2021 or the
Guidelines for Virtual Asset Service Providers.
I
t must
be emphasized
that
operating or doing business in the Philippines
requires prior registration and
/or
authorization with
the
concerned authorit
ies
and/or agenc
ies
including the Commission
.
As mentioned, even
the
BSP
requires those engaged in
online trading,
digital
assets and/or similar activities operating in the
country
to register in accordance with
its guidelines.
Therefore
, the
public is advised
NOT TO INVEST
or
STOP INVESTING
in any
scheme
being
offered
by
247STOCKTRADEFX
and
to
exercise due diligence
before
placing their hard earned monies
in entities
that promises
ridiculous
bonuses
and/or
fixed rate o
f return with little or no risk
.
Further, the scheme employed by
247STOCKTRADEFX
shows indication of a
possible
“Ponzi Scheme”
where
monies from new investors are used in paying “fake
profits” to prior investors
and is designed mainly to favor its top recruiters and prior risk
takers and
is detrimental to subsequent members in case of scarcity of new investors.
Please be informed that
the
offering and sale of
such
securities in the form of
investment contracts using the
“Ponzi Scheme”
is fraudulent and unsustainable and
is
NOT a registrable security
.
The Commission will NOT ISSUE a License to Sell
Securities to the Public
to persons or entities that are engaged in this business
or scheme
.
Likewise,
it must be noted that the
SEC ADVISORIES
are issued in order to
guide the
public in making informed decision regarding their investments
and to
warn all unscrupulous individuals and/or entities that
strict penalties are imposed
for v
iolations of the
Securities Regulation Code, the Revised Corporation Code,
and such other rules a
nd regulation enforced by the Commission
.
T
hose who act as salesmen, brokers, dealers or agents of
unauthorized entities
in selling or convincing people to invest in the
ir
investment scheme
offered
including
solicitations and recruitment through the inter
net
,
may
likewise be criminally
prosecuted
and penalized with a
maximum fine of Five Million pesos
(P5,000,000.00) or a penalty of Twenty

one (21) years of imprisonment or both
pursuant to Section
s 28 and
73 of the SRC.
Similarly
, t
hose who invite or
recruit others to join or invest in such venture or
offer investment contracts or securities to the public
ma
y incur criminally liability, or
otherwise be sanctioned or penalized accordingly
as held
by the Supreme Court in the
case of
S
EC
vs. Oudine Santos
(G.R. No. 195542, 19 March 2014).
T
he names of all those involved will
also
be reported to the Bureau of Internal
Revenue (BIR) so that the appropriate penalties and/or taxes be assessed
correspondingly.
As always, i
t must be noted that the above laws are not aimed to hinder or pose
significant
threats or
risk
s
to businesses
especially those engaged in online trading,
forex,
and
/or
cryptocurrency projects
but
are intended for the protection of both the
registered enti
ties and the investing public from any anomalies and/or irregularities
which tend to result from any unlawful
and/
or unauthorized operations.
Should you have any information regarding any investment solicitation activity
by any individual or group of indi
viduals representing
247STOCKTRADEFX
, please
send your report to the EIPD at epd@sec.gov.ph.
For the guidance of the public.
Pasay City,
15
July
2021