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PSE warns public against scam misusing its name.

THE Philippine Stock Exchange Inc. (PSE), the operator of the country's equities market, has warned the public of another investment scam using its name to invest in a security that promises high return.

'The PSE received information that an unauthorized investment solicitation supposedly from the Philippine Stock Exchange Inc. is being circulated through e-mail,' PSE COO Roel Refran said.

He said the unauthorized investment solicitation requires an initial investment of P29,500 up to P135,500 and guarantees a return of 62 percent.

The e-mail solicitation states that payment may be made at any PSE office or through remittance to their official brokers. The offices mentioned are the PSE Tower in Taguig and the former address of PSE's satellite office in Cebu.

'For the information of the public, no such investment solicitation was issued by the PSE nor does it solicit investments from individuals,' Refran said.

He reminded the public that all stock market transactions should only be coursed through PSE-accredited trading participants or stockbrokerage firms.

'We encourage the public to inform the PSE if they have been sent these investment solicitations via e-mail or any other unauthorized investment solicitation purportedly from PSE,' he said.

In November, the PSE also warned of unauthorized investment solicitations made by individuals who represent themselves as traders or salesmen of stockbrokerage firms and solicit money from investors supposedly for investment in stocks.

As 'proof of investment,' these individuals present fabricated ledgers to their investors to show what listed companies they supposedly have shares in and their alleged shareholdings.

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Publication:Business Mirror (Makati City, Philippines)
Date:Aug 27, 2019
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