SEC Facebook

Based on the information gathered by the Commission, a number of individuals or
group of persons claiming to represent
UTMOSTPEAK CORPORATION (
also known as
UMP
–
TRADING/UMP COMMUNITY)
are enticing the public to invest their money in said entity.
UTMOSTPEAK CORPORATION
otherwise known as UMP
–
Trading/UMP
Community
, according to those claiming to represent this entity
is offering investment
s
where the
minimum investment of Php5,000.00
shall earn a daily interest of 1%
or for a total of 20% per month
excluding weekends. The collected monies are
invested, allegedly, in foreign exchange.
The above described schemes involved the sale of securities to the public, the
Securities Regulation Co
de (SRC) requires that these securities are duly registered and
that the concerned corporation and/or its agents have appropriate registration
and/or license to sell such securities to the public pursuant to Section 8 of the SRC.
Per records of the Commiss
ion,
the name UTMOSTPEAK CORPORATION is
registered as a corporation on 26 February 2020, however, its Certificate of
Incorporation explicitly prohibits investment solicitation.
Page
2
Moreover
, the purported business activity it ought to conduct based on
its
primary purpose as stated in its Articles of Incorporation is as follows:
“
To engage in wholesale trading of goods and merchandises.
Provided that the corporation shall not solicit, accept or
take investments/placements from the public neither
shall it
issue investment contracts.
”
(bold underscoring for emphasis)
Page
3
It is crystal clear that the corporation is prohibited from taking investment from
the public as it lacks the necessary secondary license from this Commission.
Corollary
, those who a
ct as salesmen, brokers, dealers or agents or claim to act
as such for
UTMOSTPEAK CORPORATION
in selling or convincing people to invest in
the investment scheme being offered by said entity including solicitations and
recruitment through the internet may b
e prosecuted and held criminally liable under
Section 28 of the SRC 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.
Also, those who invi
te or recruit others to join or invest in such venture or offer
investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the
case of
Securities and
Exchange Commission vs. Oudine Santos
(G.R. No. 195542, 19 March
2014).
The public is advised
NOT TO INVEST
or
STOP INVESTING
in any investment
scheme being offered by any individual or group of persons allegedly for or on behalf of
UTMOSTPEAK CORPORATION
as well as to any other entities having the same or
similar schemes and to exercise caution in dealing with any individuals or group of
persons soliciting investments for and on behalf of it.
Should you have any information regarding the operation of th
e subject entity,
please call the Enforcement and Investor Protection Department at telephone numbers
(02) 8818
–
6047 or send your report to the EIPD at
epd@sec.gov.ph
.
For the guidance of the public.
Pasay City,
29
M
arch
202
2
.