THE Securities and Exchange Commission advised the public not to invest in an unregistered and unlicensed company that has been promising high returns for locked-in investments through social media.The advisory was prompted by reports and information that individuals representing Safe District Enterprise, whose proprietors were said to be Rexon Cortez and Lovely Charisma Cortez, had been enticing the public via the Messenger app to invest in the business.
Safe District is not registered with the SEC and is operating without the necessary license and/or authority, the regulator said.'The Securities Regulation Code requires that said offer and/or sale of securities must be duly registered with the commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public,' it said.