MANILA- President Rodrigo Duterte has declared the second week of November of every year as Investor Protection Week, which aims to help the public avoid fraudulent schemes.
Duterte signed on Nov. 15 Proclamation No. 846, a copy of which was released on Wednesday.
“...[D]ue to the growing number of reported investment scams in the country, there is a need to reinforce efforts to inform and educate the public on financial literacy, investor rights and responsibilities and risks of investment, through the conduct of programs aimed at reducing the investing public’s vulnerability to fraudulent schemes,” he said in his proclamation.
Under the President’s proclamation, the Securities and Exchange Commission and the Presidential Communications Operations Office would lead the observance and celebration of the Investor Protection Week.
All other government agencies and departments are also mandated to provide assistance to the SEC, the President said.
In June, the President warned the public against investment scams after ordering the closure of religious corporation Kapa-Community Ministry International.