Business

SEC warns against 1 HEAL WORLD TRADING

The Securities and Exchange Commission has warned the public against 1 HEAL WORLD TRADING which was found to be soliciting investments from the public without the necessary license.

Based on SEC’s investigation, the company, which claims to be engaged in forex trading, promises a 170% return of investment in just 25 days. The payout will be given in four cycles with a 5% deduction.

“The Commission does not allow the registration of foreign exchange in the nature of commodity/financial futures constract and other similar derivatives nor commodity futures exchanges and commodity merchants/ brokers,” SEC said.

SEC said salesmen, brokers, dealers or agents of 1 HEAL WORLD TRADING may be held criminally liable under the Securities Regulation Code and penalized with a maximum fine of P5 million or imprisonment of 21 years or both.

It shall also report the names involved to the Bureau of Internal Revenue for the appropriate penalties and/or taxes.

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