The Securities and Exchange Commission (SEC) has issued a public warning about the unauthorized solicitation of investments by Kito-Kiko Variety Shop/ Kito-Kiko Incorp. and House of Forex/ H. Flores Business Consultancy Services.
House of Forex, allegedly involved in foreign exchange currency trading, is enticing investors with various plans and minimum investment amounts.
The SEC deems this as illegal solicitation, emphasizing that investors are being induced to invest money.
Records show that House of Forex is not registered as a corporation or partnership and lacks the necessary registrations for soliciting investments.
Similarly, Kito-Kiko Variety Shop, claiming to be an online merchandise shop, is neither registered nor authorized to solicit investments.
The SEC has cautioned the public about the lack of investor protection when dealing with these unregulated entities, underscoring the absence of prudential and market conduct requirements applicable to licensed and authorized operations.