SEC warns vs unregistered investment platforms

THE SECURITIES and Exchange Commission (SEC) has issued advisories against Valtoro Spartan, Mad Devpt.

- Alexandria Grace C. Magno

Realty Corp., VT Markets, FBS, and KBS, warning investors that these platforms have been soliciting investments without the required registration or license.In separate notices, the corporate regulator said the flagged entities, including some registered as broker-dealers abroad, operate without the licenses required under the Securities Regulation Code to function as securities dealers or exchanges in the Philippines.

Based on reports gathered by the commission, Valtoro Spartan Consultancy and Valtoro Spartan Trading, registered as a corporation, are soliciting public investments through their website without a secondary license. The firm promotes lock-in subscription plans starting at $50, promising returns from 7.5% to 912.5% depending on the plan selected.