#Cease and Desist Order

The Securities and Exchange Commission (SEC) has ordered the XM Group to stop offering investments in the Philippines for operating without the required licenses. In November 7, 2025, the SEC issues a cease and desist order to Trading Point Holdings Limited, also known as XM, XM Global Limited, and XM Philippines. They are ordered to immediately stop selling investment products and shut down related websites and social media pages. The Securities and Exchange Commission Philippines (SEC) has ordered a cease and desist order on Forsage and Forsage Philippines, stopping the platforms to solicit investments from the public into its crowdfunding platform involved in the Ethereum blockchain technology. Based on the cease and desist issued order by the commission last September 17, Forsage should stop selling investment agreements and cease its internet presence until the requisite permits are duly issued. The order covers Forsage and its operators, representatives, salesmen, and agents, including Rich Alex Apuntar, Vhellpoe Forlares Garves, Yuka Kuroyanagi, Christopher Doroliat, Iam Kim, Jairra Fab Teoxon, Mark Nicole Escabarte Valerio, Myra Cris Sapar, Romnick Melañez, and Vel Cabalza. They can fund trades using their bank balance, place orders even outside trading hours, and withdraw earnings within the same app. Read more in our articles including "SEC issues cease and desist order vs XM Group" and "SEC orders cease and desist on Forsage and Forsage Philippines".