Jtradefx

December 19, 2023 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY This is to inform the public that JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE is NOT AUTHORIZED TO SOLICIT INVESTMENTS FROM THE PUBLIC. acEHCD This Advisory is prompted by reports received and information gathered by the Commission that individuals or group of persons, are enticing the public, through social media platform, to invest in JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE . As posted on its website and as advertised by JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE in its Facebook Page and Facebook account of its alleged CEO and President JERALD BAWAAN , the company is allegedly engaged in the trading of foreign exchange currencies. Accordingly, would-be investors are required to choose from among the following plans with its corresponding amount of investment: The investment offerings of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE constitutes solicitation of investments from the public as the investors are enticed to invest money. EcTCAD JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE offers three (3) ways to earn: 1. Micro Account for 35% interest of the minimum investment for 7 days. 2. Mini Account for 90% interest of the minimum investment for 15 days. 3. Standard Account for 210% interest of the minimum investment for 30 days. The would-be investors may send their investments through the Union Bank account provided by the subject entity. The aforementioned investment scheme of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE clearly involves offering and sale of securities in the form of an "investment contract" as defined under Section 3.1 of the Securities Regulation Code (SRC). Considering that the scheme of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE , involves the offer and sale of securities, the law requires it to have a SECONDARY LICENSE from the Commission pursuant to Sections 8 and 12 of the SRC. However, an initial verification from the Commission's database shows that JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE is not registered with the Commission as a corporation or partnership. Further, though JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE has been granted a Certificate of Business Name Registration by the Department of Trade and Industry such registration is not sufficient and do not give authorization to the aforementioned entity to offer or sell of securities. BUSINESS NAME BUSINESS TERRITORY OWNER'S NAME CERTIFICATE NO./BNN REGISTRATION DATE STATUS BUSINESS SCOPE JTRADEFX FOREIGN EXCHANGE SERVICE NATIONAL JERALD SEVILLANO BAWAAN 5125636 Jul 21 2023 08:43 PM REGISTERED NATIONAL It is noteworthy that prior registration is required before an entity can be issued a secondary license to offer and/or solicit investments from the public . JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE , being an unregistered entity, is NOT AUTHORIZED to solicit investments from the public. SDHTEC The scheme offered by JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE to the public is clearly a "Ponzi Scheme" where money from new investors are used in paying "fake profits" to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors. JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE has no legitimate source of generating profits as it has no service or products to offer and the investment's fate is entirely reliant on the supposed expertise and trading skills of its CEO, JERALD BAWAAN in a highly-volatile asset class of Foreign Exchange trading. A business employing the "Ponzi Scheme" is bound to fail because they have no clear way of making profits and is only relying on future investors to pay the old investors. When the business cannot or fails to find new investors, the asset bubble will eventually burst and the said business will collapse. The offering and selling of securities in the form of investment contracts using the "Ponzi Scheme" which is fraudulent and unsustainable, is NOT a registrable security. The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme. Finally, the Financial Products and Services Consumer Protection Act (FCPA) also prohibits investment fraud which is defined under the law as any form of deceptive solicitation of investments from the public which includes Ponzi Schemes and such other schemes involving the promise or offer of profits or returns sourced from the investments or contribution made by the investors themselves and the offering or selling of investment schemes to the public without a license or permit from the SEC. Those who act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, recruiters, influencers, endorsers and enablers of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE in selling or convincing people to invest in what appears to be an investment scheme being offered by said entity including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the SRC and Section 11 of the FCPA and for the two offenses, both are penalized separately with a maximum fine of Five Million pesos (Php5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC. In view thereof, the public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE as well as to any other entities having the same or similar schemes and to exercise caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE . HSAcaE Should you have any information regarding any investment solicitation by any individuals or group of individuals on behalf of JTRADEFX/JTRADEFX FOREIGN EXCHANGE SERVICE please send your report to the email of the ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT at [emailprotected] . For the guidance of the public. Makati City, December 19, 2023.