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CA Upholds SEC Ruling on 1UP Time
The Philippine Star
|March 12, 2025
The Securities and Exchange Commission (SEC) has received a positive boost in its investor protection campaign after the Court of Appeals (CA) upheld the cease and desist order (CDO) issued by the commission against Superbreakthrough Enterprises Corp. for unauthorized solicitation of investments from the public.
Superbreakthrough Enterprises, doing business under the name 1UP Time, was found to have been offering securities in the form of investment contracts in the guise of selling product packages without a secondary license from the SEC.
A decision promulgated on Feb. 11 by the CA Fifth Division rejected the petition of 1UP Time and ruled that the SEC did not commit grave abuse of discretion when it issued the CDO and subsequently made it permanent.
This story is from the March 12, 2025 edition of The Philippine Star.
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