By Keren Concepcion G. Valmonte

THE Securities and Exchange Commission (SEC) will be setting up an office dedicated to helping the public gain financial literacy following the rise in unauthorized investment schemes during the pandemic.

“Chairperson Emilio B. Aquino plans to establish an Office on Investor Education to address the growing problem of investment scams in the country,” the commission told BusinessWorld in an e-mail interview.

The SEC described 2020 as a “record-breaking year” after the corporate watchdog issued 127 advisories against easy money schemes, 95% higher than the total 65 advisories issued in the previous year.

“The Commission has seen more unauthorized investment schemes amid the pandemic, at a time when many of our fellow Filipinos have lost their jobs and would be willing to take any chance at earning a living,” the SEC said.

In the first quarter of 2021, the…

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