Download Advertencia Publica

NATIONAL SECURITIES COMMISSION OF THE REPUBLIC
WARNING – NON AUTHORIZED ENTITY
People in Profit System (PIPS) y PIPS Financial Services
http://www.pips.pipsinc.com
The National Securities Commission warns the public that the promoters of the Web
pages indicated above, are trying to raise funds from the general public under a
Ponzi scheme (piramidal), identifying such funds as "loans". The web page
represents the companies to have some type of authorization to operate in the
Republic of Panama, information that is not accurate. Regulators from other
jurisdictions are evaluating the legality of the activities of these societies under
their respective legislations.
PIPS Financial Services is registered under Microfilm Jacket No. 455679 of the Public
Registry of the Republic of Panama and has not been issued any kind of license by
the Commission, nor has it been authorized to carry out businesses as a financial
intermediary of securities or investments in or from Panama. The list of all the
institutions authorized by the Commission is available in our Web site in
www.conaval.gob.pa.
Under the circumstances, the Commission invites anyone considering to enter into
business relations with the above mentioned organizations to use the greater possible
precaution, considering the content of this public warning.