Wells Chadwick, Inc.

SEC Building, EDSA, Greenhills, City of Mandaluyong SECURITIES AND EXCHANGE COMMISSION Republic of the Philippines WELLS CHADWICK, INC. IN THE MATTER OF CED CASE NO, 20-2578 X CEASE AND DESIST ORDER Subject Of numerous complaints from its foreign investors/clients is WELLS CHADWICK, INC., who claimed that they have been defrauded of their investments in foreign currency (US$) in connection with its investment solicitation and foreign securities dealing/brokering activities. Records show that the subject corporation is duly registered with the Commission on December lo, 1998 under SEC Registration Al99818556, the purpose of which is primarily as follows, to wit: of individuals, organizations or corporations "To act as management consultants or advisers whether private or public; to conduct market generally emphasis prospective development analyses and economies On to throughout the world; and for with surveys. the do investment research emerging a view gather opportunities and growth of world information and to studies with identifying and #G CED CASE NO. 20-2578 Cease & Desist Order Page 2 research reports, studies and periodicals for this ipurpose to print, clients.. publish and produce Certification issued by the Brokers and Exchanges Department (BED): of this Commission I dated August 2 1999 shows that subject company was never licensed to engage as broker/dealer of securities. Likewise, subject corporation is not authorized to solicit investments from the public as its articles of incorporation as' approved by the Commission do not show the inclusion of such business purpose. As WELLs CHADWIcK, INC. has not been issued a iicense to engage in the buying and selling of securities and considering the serious nature of the misrepresentation committed and the commission of "ultra vires" act, there is an urgent necessity to restrain or enjoin subiect corporation from engaging in the business of broker/dealer in securities and in the authorized solicitation Of investment in order to safeguard and protect the interest of the investing public in general. Cease & Desist Order CED CASE NO. 20-2578 Page 3 WHEREFORE, pursuant to the power and authority vested to the Commission by Yaw, WELLS CHADWICK, INC. its officers/directors, agents, representatives and any or all persons claiming and acting under the authority are hereby ordered to CEASE AND DESIST from soliciting and OY accepting money for investment purposes and also from accepting orders to buy and sell shares of stock or other form of securities or otherwise engage in the business of C broker/dealer in securities. days from receipt of. this Order, file a formal request for subject of this Cease and Desist Order, may within five(5) In accordance with law, the above specified persons the lifting thereof. SO ORDERED. City of Mandaluyong, Metro Manila, May 2001 Compl iance and Enforcement Department JOSE TOMAS /C. Assistant Director SYQUIA