THE Securities and Exchange Commission (SEC) has issued an advisory against JPCompany Online Shop for collecting investments from the public without registering with the regulator and without securing the proper license.

JPCompany Online Shop or JP Company is said to be headed by a certain John Paul Acuzar Chan.

The SEC noted that the entity has acquired a certificate of business name registration in January from the Department of Trade and Industry (DTI) under business name number 2515205.

Its DTI registration is under the name of Mr. Chan with a limited scope within Brgy. Bangkal in Makati City.

“Nonetheless, JPCompany Online Shop or JP Company is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the commission as prescribed under Section 8 and 28 of the SRC (Securities Regulation Code),” the corporate watchdog said.

The entity is offering the public an “IWE (invest, wait, and earn)” program, which promises returns worth 180% of initial investment within 15 to 20 days.

Recruiters of JPCompany are also guaranteed a five-percent direct-referral bonus from the initial investment of their recruits.

Brokers, dealers, or those who act for the unregistered entity may be prosecuted or held liable under the securities code and may be fined for P5 million at most, face 21 years behind bars, or both.

In April, the SEC issued a total of 11 advisories against multiple entities for offering unauthorized investment schemes.

WONKACASH or WONKA CASH App Financial Consultancy Services, IX Trade, Learn and Earn Online, 247 Cryptotrading FX, 247 Cryptotrade Online, ExchangeStock, Binary Options Trading, and Wolves Options have been flagged by the commission.

It also warned the investing public against Investrade Marketing or Investrade Digital Marketing Services, iWATCH Corp., Beyond Generations Digital Marketing Services, Big Dreams International and BDI Product Trading OPC, CASH FX Group, Doors Opportunity Online or Door Opportunity Digital Marketing Services, and Infinity PAYB or PAYB BILLS Payment and Remittance Center. — Keren Concepcion G. Valmonte