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Manila Bulletin devider Business devider The Stock Market devider SEC revokes MCM Royalty registration over unlicensed sales

SEC revokes MCM Royalty registration over unlicensed sales

Published Mar 9, 2026 12:00 am  |  Updated Mar 7, 2026 03:28 pm
The Securities and Exchange Commission (SEC) has revoked the corporate registration of MCM Royalty Legacy International Inc. and fined its leadership for the unauthorized solicitation of investments from the public, according to an order from the regulator.
The SEC’s Enforcement and Investor Protection Department found that MCM Royalty Legacy offered securities without the necessary registration or licenses, violating the Revised Corporation Code and presidential decrees governing corporate conduct. The regulator determined that the firm engaged in ultra vires acts, or activities that fall outside the scope of the powers granted by its articles of incorporation.
In a move to clamp down on unlicensed investment schemes, the commission ordered the company and its top executives, including its president, to pay a ₱1 million fine. Furthermore, the officials named in the order have been disqualified from serving as directors of any corporation for five years.
MCM Royalty Legacy was officially registered as a wholesale trading firm with secondary purposes in online advertising and e-commerce. Its incorporation papers explicitly prohibited the company from soliciting or issuing investment contracts to the public. However, an investigation revealed that the company was marketing investment contracts disguised as franchise agreements. These agreements purportedly funded businesses ranging from travel and tour ticketing to bills payment, e-loading services, and wellness products.
The regulator noted that the scheme enticed the public with promises of guaranteed profits based on various investment packages. The SEC classified the operation as fraudulent under the Securities Regulation Code, noting that it bore the hallmarks of a Ponzi scheme. In such arrangements, high returns promised to early participants are typically funded by the capital provided by newer investors rather than actual business profits.
The SEC stated in its order that the company’s operations functioned to defraud the public by creating a false impression of regulatory authority to deal in securities. The commission characterized these activities as a serious misrepresentation that caused prejudice and financial damage to investors. The revocation is part of a broader effort by Philippine regulators to purge the market of entities that bypass transparency requirements and operate high-risk financial schemes under the guise of legitimate retail or service businesses. (James A. Loyola)

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Securities and Exchange Commission MCM Royalty Legacy International
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