Philippine SEC Orders Peso Flow and Stryder to Halt Operations

The Philippine Securities and Exchange Commission (SEC) ordered Peso Flow and Stryder Resources to stop separate lending and investment activities, finding both lacked licenses required for the operations they promoted.

An order dated Oct. 30 from the SEC’s Financing and Lending Companies Department directed Peso Flow and its operators to end lending and take down the company’s website and social media accounts. The commission found Peso Flow had no certificate of authority and had falsely claimed an affiliation with Sofi Financing Inc. Sofi, which operates Finbro.ph, filed a complaint denying any connection to Peso Flow.

A second order, dated Nov. 11, named Stryder Resources and Chairman John Hubert S. Maravilla Jr. The SEC’s Enforcement and Investor Protection Department found Stryder solicited investments on Facebook without the secondary license needed to offer securities. The commission said the activity violated the Securities Regulation Code and the Financial Products and Services Consumer Protection Act.

Stryder promoted an e-commerce scheme with guaranteed returns. Its offers included a ₱600 payout after a ₱500 deposit over five days and an 80% return on a ₱5,000 deposit over 24 days. The company also offered a 10% direct referral bonus and a 1% indirect downline bonus.

Although Stryder was registered as a One Person Corporation, it did not have a license to sell securities. The SEC also barred Stryder, its officers and promoters from moving assets or bank deposits to preserve funds for affected investors.