Securities and Exchange Commission — Cease and Desist Order Against SCET Colleens Corp.

January 11, 2022 BSP CIRCULAR LETTER NO. CL-2022-004 TO : All BSP-Supervised Financial Institutions SUBJECT : Securities and Exchange Commission Cease and Desist Order Against SCET Colleens Corporation This is to disseminate to all BSP-supervised financial institutions, the Cease and Desist Order (CDO) issued by the Securities and Exchange Commission (SEC) on 07 December 2021, 1 (copy attached) against SCET Colleens Corporation, its officers, directors, representatives, salesmen, agents, influencers, enablers, conduit entities, subsidiaries, and any and all persons (collectively referred to as "Agents") claiming and/or acting for and on their behalf. The CDO: (a) enjoins these persons to cease and desist from further engaging in activities of selling and/or offering for sale of unregistered securities; and (b) prohibits them from selling, encumbering, conveying, or disposing any of its properties and/or other assets without the prior written authority from the SEC. In addition to other directives, the CDO also prohibits SCET Colleens Corporation, its operators, directors, officers, representatives, salesmen, agents, and any and all persons claiming and acting for and on their behalf from transacting any business involving funds in its depository banks, and from transferring, disposing, or conveying in any manner, any and all assets, properties, real or personal, including bank deposits, if any, of which these named persons may have interest, claim or participation, whether directly or indirectly, under their custody, to ensure the preservation of the assets of the investors. For information and strict compliance/implementation. (SGD.) CHUCHI G. FONACIER Deputy Governor ATTACHMENT SEC CDO Case No. 11-21-075 December 7, 2021 Footnotes 1. The SEC Cease and Desist Order against SCET Colleens Corporation, its officers, directors, representatives, salesmen, agents, influencers, enablers, conduit entities, subsidiaries, and any and all persons (collectively referred to as "Agents") claiming and/or acting for and on their behalf may also be viewed and downloaded from the SEC website https://www.sec.gov.ph/issuance/scet-colleens-corporation-2/