A lawmaker is pushing for an ‘online registry portal’ for the Securities and Exchange Commission to detect possible investment scams.
Albay Representative Joey Salceda filed the bill called ‘Scam Finder Portal’ which aims to protect Filipinos from investment scams.
The online portal will also teach Filipinos how to save and put their money to the right investment.
Salceda said that investment scams have been repeatedly making headlines and fooling Filipinos waste their hard earned money.
The lawmaker believed that this is a product of lack of information and people getting easily convinced by scammers.
House Bill 9226 will order SEC to make the online portal that will contain all important documents and information included in an investment.
