The Securities and Exchange Commission (SEC) is officially advising the public to exercise extreme caution and refrain from investing in two entities operating under the names HFM (HF Markets) and Exness Global Limited.
Following rigorous monitoring and reports gathered by the Commission, it has been determined that these entities are actively soliciting funds from the public. These platforms promise high returns, interest, or profits in exchange for initial capital investments, often conducted through online trading platforms.
The SEC’s investigation highlights several critical red flags regarding these operations:
-
Lack of Registration: Neither HFM nor Exness Global Limited is registered as a corporation or partnership with the Commission.
-
Absence of Secondary License: These entities do not possess the necessary secondary license required to solicit investments, issue investment contracts, or act as brokers/dealers in securities.
-
Unauthorized Public Offering: Under the Securities Regulation Code (SRC), any entity offering securities or investment opportunities to the public must first register those securities and obtain express permission from the SEC. “The public is warned that investing in unregistered entities carries a high risk of total loss. Without SEC oversight, there is no guarantee of the safety of your funds or the legitimacy of the promised returns.”
The Commission urges Filipinos to be proactive in verifying the legitimacy of any financial opportunity. Before handing over money, please use the following official SEC resources:
-
Verify Registration: Check if a company has a secondary license via checkwithsec.sec.gov.ph.
-
Mobile Access: Download the SEC Check App available on the Apple App Store and Google Play Store for real-time verification.
-
Report Suspicious Activity: If you have been approached by representatives of these companies or have already invested, please report the details to the Enforcement and Investor Protection Department (EIPD) at imessage.sec.gov.ph.
The SEC remains committed to weeding out unauthorized investment schemes to protect the investing public. Individuals acting as salesmen, brokers, or agents for these unauthorized entities—including those who recruit others online—may be held criminally liable and face severe penalties, including fines or imprisonment.
