THE Securities and Exchange Commission (SEC) has advised the public not to invest in KOEN Solutions OPC because it is not permitted to sell securities.
“[It] is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the SRC (securities regulation code),” the regulator said in an advisory.
Securities should not be offered for sale without a registration statement filed with and approved by the commission, according to the regulator, citing the SRC.
It said that Koen Solutions is offering investments that guarantee returns of 2.5% to 3% daily or 75% to 90% monthly.
The said entity, which operates in a Facebook group called “KOEN Philippine Financial Investment Powerful and Intelligent AI robot,” claims to be a “world-leading encrypted financial quantitative service platform.”
Since it is offering investment contracts, KOEN Solutions must have an appropriate registration and license to sell such securities to the public pursuant to Section 8 and 28 of the SRC, the regulator noted.
KOEN Solutions’ primary purpose upon incorporation is to engage in the business of information technology products and services provided that it will not solicit investment contracts.
“In view of the foregoing, the public is advised not to invest or to stop investing in the investment scheme of KOEN Solutions OPC and to exercise extreme caution when approached by individuals claiming to represent the said entity,” the commission said. — Justine Irish D. Tabile
