SEC flags Rising Opportunity for unlicensed solicitations

THE Securities and Exchange Commission (SEC) has released an advisory against Rising Opportunity International (ROI) Business for its unlicensed investment solicitations.

Led by a certain Jayson Reganon Nuevaespana, the entity also goes by ROI Business Development Services and ROI System.

The corporate regulator said these are not registered with the commission as a corporation or as a partnership.

“It is not authorized to solicit investments from the public as this entity did not secure prior registration and/or license to solicit investments from the commission as prescribed under Section 8 of the Securities Regulation Code (SRC),” the SEC said.

Rising Opportunity International is offering multiple compensation plans to the investing public for as low as P500 up to P50,000. The entity promises a return of investment from P600 up to P90,000 or a 120% to 150% return for 10, 15, 20, or 30 days.

It also issues an “investment contract” to its clients.

Under the SRC, securities should not be offered for sale or distribution within the Philippines without a registration filed with and approved by the commission. Offering and selling securities without the proper license is a violation of the SRC.

The SEC said those who invite or recruit others to join or invest in the entity may be held criminally liable under the SRC and may be penalized with up to a P5-million fine and/or face 21 years behind bars.

“The public is hereby warned that the investment schemes being propagated by Rising Opportunity International (ROI) Business/ROI Business Development Services/ROI System are considered as securities in the nature of investment contracts subject to the regulatory authority of this commission,” the SEC said.

The commission is also warning the investing public to “exercise caution before investing in these kinds of activities.” — Keren Concepcion G. Valmonte

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