The Securities and Exchange Commission (SEC) is calling on Filipinos to become investor champions by securing their future through smart and sustainable investments, as it leads the celebration of the 2021 Investor Protection Week.
From Nov. 8 to 12, the Commission will celebrate the Investor Protection Week with webinars and other activities aimed at raising the level of financial literacy among Filipinos and thereby empowering them to invest for and to scam-proof their future.
The SEC will highlight the variety of legitimate and accessible investment options, where Filipinos can place their hard-earned money, such as stocks, bonds, government securities, and mutual funds. At the same time, the Commission will continue educating Filipinos on how they could spot and avoid investment scams.
“In this year’s Investor Protection Week, we invite Filipinos to join our advocacy for a secure future through smart and sustainable investments, and become investor champions themselves,” SEC Chairperson Emilio B. Aquino said.
“Being an investor champion means being able to realize the benefits of investing, to spot and avoid fraudulent investment schemes, and to champion others by passing on your knowledge about legitimate investment options and the modus operandi of scammers to keep them from falling into the trap.”
The 2020 Stock Market Investor Profile released by the Philippine Stock Exchange, Inc. shows that there were only around 1.4 million accounts in the stock market last year. These account for only 2% of the Philippines’ adult population and point to a widely untapped potential for the equities market.
The 2019 Financial Inclusion Survey by the Bangko Sentral ng Pilipinas also revealed lack of awareness, alongside work instability and perception of high cost, among the top reasons why Filipino adults did not have investments.
Meanwhile, a number of Filipinos fall prey to unauthorized investment schemes that offer low investment costs; fast, high, and guaranteed returns; and fake celebrity testimonials and endorsements, based on reports and inquiries received by the SEC.
“The SEC believes that Filipinos recognize the importance of investing in securing a better future for themselves and their families, especially after seeing the impact of unprecedented economic setbacks brought about by the COVID-19 pandemic, for instance,” Mr. Aquino said.
“Unfortunately, fraudsters have taken advantage of Filipinos’ eagerness to invest and earn more by luring them into schemes that require only small amounts of investments in exchange for returns that are too good to be true. It is therefore crucial that the investing public is guided toward the legitimate investment options and away from investment scams.”
The SEC first celebrated the Investor Protection Week last year, following Pres. Rodrigo Roa Duterte’s issuance on Nov. 15, 2019 of Proclamation No. 846 declaring the second week of November of every year as Investor Protection Week.
The Investor Protection Week takes off the World Investor Week, a global campaign promoted by the International Organization of Securities Commissions. It also coincides with the anniversary of the SEC.
This year’s Investor Protection Week will formally open on Nov. 8 by welcoming more partners into the SEC Campaign Network, composed of organizations from both the public and private sectors which share the Commission’s mission of boosting investor education in the Philippines.
On Nov. 11, the SEC will present a free webinar on When and Where to Invest, to be live-streamed on its official Facebook page. Speakers from capital market institutions will discuss how Filipinos can start their journey into investing in stocks, bonds, government securities and mutual funds, among others.
The SEC will close the Investor Protection Week with the celebration of its 85th Anniversary on Nov. 12, where it will also recognize champions of ease of doing business, capital market development, investor protection and good corporate governance.
The Commission, however, has lined up more webinars and investor education activities throughout the rest of the year. See the activities and register here: https://www.sec.gov.ph/ 2021-world-investor-week/. (PR)
