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DUMAGUETE CITY - The Securities and Exchange Commission (SEC) is testing the waters whether to establish an extension office in Dumaguete City or not, for it to better serve the public.

SEC Director Jose Aquino of SEC Enforcement and Investor Protection Department disclosed Tuesday the commission is in the process of trying to identify different provinces where they can establish an extension office and Dumaguete City is among those being considered.

While in the city, SEC officials conducted trainings and seminars on the role of gender and development in the capital market, company registration system, how to deal and detect investment scams including microfinance and lending.

SEC enjoins local government units to be partners with them in cases of corporations wanting to acquire business permits in certain localities that among the requirements would be a registration with the SEC or with the Department of Trade and Industry, especially for single proprietorship.

Director Aquino had sought the cooperation of the city to require corporations applying for before business permits to present first their SEC registration to make sure such corporations are of good standing and that they are not among those corporations being monitored for violations.

He also cautioned the public against investing in fly-by-night corporations and not to be pressured into putting their money because of greed for quick higher returns.

The SEC official said scammers nowadays are trying to ride on to anything new; they would ride on the human desires for wealth the easy way without doing anything other than giving money.

Finally, the SEC said that anybody who wants to engage in business would have to register with them so that they could also protect those that are dealing with them. (PNA)DECEMBER 2019



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