Bagong Bansang Maharlika (BBM) International, Inc. (BBMII)

August 24, 2023 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY The Securities and Exchange Commission ("Commission") has received information that individuals or group of persons representing and identifying themselves as BAGONG BANSANG MAHARLIKA (BBM) INTERNATIONAL, INC. (BBMII) are operating and inviting members to join its project/program. CAIHTE Investigation disclosed that BBMII operators/agents claim that BBMII 's main purpose is to uplift the living condition of its members. It claims that it operates in Luzon, Visayas and Mindanao and open for membership to: 1) "Filipinos worldwide from one (1) year old and above" ; or 2) "everyone but limited to those who voluntarily availed the program." To avail of the benefits offered by BBMII, a prospective member is required to fill-up an application form and pay one hundred (Php100) pesos in the guise of processing fee for their identification cards. Through the use of the social media and seminars conducted in public places and radio stations, the BBMII program entices the prospective members by promoting and offering its so-called "assured benefits" in the form of food security, medical services, livelihood, free education and cash assistance for the senior citizens starting fifty (50) years of age and above, among others, to the members of BBMII . aScITE Per records, BAGONG BANSANG MAHARLIKA (BBM) INTERNATIONAL, INC. was registered with the Commission on 18 March 2022 under SEC registration No. 2022030046453-01 and with principal address at J.P. Laurel St., San Juan (POB.), Samal, Bataan, Region III, (Central Luzon), 2113. Its primary purpose is as follows: DETACa "To uplift the living conditions of members by assisting them in the establishment of livelihood facilities, services and enterprises. To encourage the members in the effective utilization of local resources in livelihood activities and thereby improve the living condition in the community. To acquire loans or other financial accommodations from the government and private lending institutions in order to finance productive livelihood enterprises. To provide and accept grants, contributions, donations and other forms of assistance/financial aid, technical or in kind for the maintenance of the association and attachment of its purposes. To assist and support the members in the promotion of their business. To develop and harness the people's participation in every economic activity toward the development of the community through self-help and self-reliance. To do and perform any other acts which may be necessary, convenient and appropriate to accomplish the objectives for which the association is organized." The public is hereby WARNED that registration only gives the subject entity the juridical personality to operate as a corporation and does not encompass activities which requires the necessary permit/license/authority such as but not limited to operate as a Private Social Welfare Development Agency (SWDA) 1 from the Department of Social Welfare and Development (DSWD). As the Certificate of Incorporation issued to BBMII show, while such Certificate grants juridical personality to the corporation, the Certificate of Incorporation does not constitute a permit to undertake activities for which other government agencies require a license or permit. Investigation of the Department showed that BAGONG BANSANG MAHARLIKA (BBM) INTERNATIONAL, INC. does not appear to be among those SWDAs with valid registration/license to operate or accreditation with DSWD as of July 31, 2023. HEITAD Thus, the public is advised NOT TO JOIN in any scheme offered by any individuals/agents/entities representing BAGONG BANSANG MAHARLIKA (BBM) INTERNATIONAL, INC. or its affiliates who are engaged in similar activities which does not have the required authority/license/permit from the concerned regulatory agencies to conduct such activities. Should you have any information regarding the operation of BAGONG BANSANG MAHARLIKA (BBM) INTERNATIONAL, INC. please send your report to the Enforcement and Investor Protection Department at [emailprotected]. Makati City, August 24, 2023. Footnotes 1. Social Welfare and Development Agency refers to a non-stock, non-profit corporation, organization or association, implementing or intending to implement either directly or indirectly social welfare and development programs and services in the Philippines, and assessed as having the capacity to operate administratively, technically and financially. Its clients may include but not limited to the poor, disadvantaged, and vulnerable individuals, groups, families and communities. DSWD Memorandum Circular No. 17, Series of 2018 (Revised Guidelines Governing the Registration and Licensing of Social Welfare and Development Agencies and Accreditation of SWD Programs).