December 28, 2017
SEC ADVISORY
The Commission has received report through its Cagayan De Oro Extension Office that a certain company My Community E-Commerce System, Inc. also known as My Community Credit Cooperative is engaged in soliciting investments from the public, where an investment of Money will earn a Compounded 5% monthly interest to be paid annually. Further, the company is engaged into lending activities without Certificate of Authority from the Commission.
Based on the records of the Commission, My Community E-Commerce System, Inc. is registered as a Non-stock and Non-profit association with the Commission with SEC Registration No. CN201626445. The registration with the Commission only pertains to the primary license of a corporation which gives it juridical personality but is not authorized to solicit investments which activity require a secondary license as provided under Section 8.1 of the Securities Regulation Code.
Those who act as salesmen, brokers, dealers or agents of My Community E-Commerce System, Inc. in selling and convincing people to invest in the investment scheme being offered by My Community E-Commerce System, Inc. including doing...
