Securities and Exchange Commission

Infante 10:18 AM, May 04, 2022

May 4, 2022

Dear Bryan Dujapa,

Greetings!

Thank you for your request dated May 03, 2022 06:22:33 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

This concerns your suggestion for the SEC to investigate the investment solicitation activities of Heyshopee.

Response to Request

Thank you for the information. Meanwhile, we would like to share with you the following insights:

The information about registered companies may be checked using the SEC Check App (https://bit.ly/secmobileapp).   The SEC Check App is  the official mobile app of the Securities and Exchange Commission Philippines.  Apart from providing  on-the-go guides in doing business and investing in the Philippines, it contains among others: investor alerts and educational materials aimed at protecting the investing public from investment scams;  and the latest rules and regulations concerning corporations, partnerships, associations, capital market professionals and other entities supervised by the SEC Philippines.

Please be guided that a SEC company registration does not automatically grant authority to offer investments in securities, bonds, commercial papers or similar financial instruments to more than 19 investors. The appropriate SEC license/certificate of authority must be obtained to engage in the said activities.  

You may want to visit our website from time to time to be informed of the investment scams checklist and the related SEC Advisories at 
https://www.sec.gov.ph/investors-education-and-information/investment-scam-checklist/; 
https://www.sec.gov.ph/investors-education-and-information/investment-101/; and,
https://www.sec.gov.ph/investors-education-and-information/advisories.

If the company is deemed engaged in an investment scam and/or the offering/selling  of  unregistered  securities without the requisite secondary license, you may report the matter directly to the Enforcement and Investor Protection Department at epd@sec.gov.ph.  Kindly provide the relevant details and/or supporting documents regarding your transaction with the company (if any) .

Your right to request a review

If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to comsec@sec.gov.ph. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.

If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).

Thank you.

Respectfully,

Violeta Infante
FOI Receiving Officer