SEC, Tarlac PNP sign MOA in fight vs. investment scams
In a significant step towards enhancing collaboration and efficiency in combating investment scams and financial crimes, the Securities and Exchange Commission- Tarlac Extension Office (SEC-TAREO) and the Philippine National Police (PNP)- Tarlac Police Provincial Office (Tarlac-PPO) formalized a partnership through a Memorandum of Agreement (MOA) held last April 1, 2024 at the PNP Provincial Headquarters, Camp Francisco Macabulos in Tarlac City.
The signing ceremony was attended by key officials from both organizations, including high-ranking police officers of Tarlac PPO headed by Provincial Director, PCol Miguel M. Guzman and representatives from the SEC-TAREO led by Director, Atty. Richard R. Laus. The event marked a pivotal moment in the fight against financial fraud and misconduct, as both entities pledged to work closely together to address various issues related to securities regulation and enforcement.
Under the terms of the MOA, the Tarlac PPO and SEC-TAREO agreed to collaborate on activities relative to the implementation of the SEC Anti-Scam and Illegal Taking of Investments Group (SEC ASTIG), a group within the SEC Campaign Network, which is focused on raising awareness of and educating, the general public on investment scams and other fraudulent schemes, in support of the SEC’s enforcement programs and efforts. Additionally, the agreement outlines plans for joint training programs aimed at enhancing the capabilities of law enforcement personnel in handling complex financial investigations.
In his remarks during the ceremony, Director Laus of SEC-TAREO expressed his gratitude for the partnership with the Tarlac PPO, emphasizing the need for coordinated efforts to combat financial fraud and misconduct. He underscored the commitment of the SEC to providing support and expertise to law enforcement agencies in pursuit of protecting the investing public.
Similarly, PCol Guzman of Tarlac PPO emphasized the importance of collaboration between law enforcement agencies and regulatory bodies in safeguarding the integrity of the financial markets. He highlighted the role of the police force in ensuring investor protection and maintaining market stability.
The signing of the MOA between the SEC-TAREO and Tarlac PPO reflects a shared commitment to uphold the rule of law and protect investors from fraudulent schemes and unethical practices. Moving forward, both organizations are poised to work hand in hand to promote transparency, accountability, and integrity in the financial sector, thereby contributing to the overall economic growth and stability of the province of Tarlac.