We hit the ground running with our efforts against pyramiding right during the first half of the year. On behalf of the board, let me share that our projects and undertakings are taking us closer to our goal of educating the public about pyramid schemes and assisting government in their efforts to protect our industry.
The Department of Trade and Industry recently formed the Fair Trade Enforcement Bureau (FTEB) under Director Danilo Enriquez. The DSAP has met with Director Enriquez and his department to share DSAP’s 8-point test and to reiterate the association’s support to the bureau on their plans to investigate and run after alleged pyramiding companies that are proliferating in the guise of legitimate network marketing businesses. We have high hopes that our partnership with the DTI and the establishment of the new Bureau led by the action-oriented Director Enriquez would provide more focus on the challenges at hand and hasten the actions that need to be undertaken to curb pyramiding.
One of the major projects of the association this year is the drafting of the Anti-Pyramiding Law to reinforce the legislation against pyramiding. The Government Affairs Committee has being working with the board on the project and will soon present the proposed draft to the general membership for approval.
A meeting with the SEC Director Jose Aquino and Atty. Lalaine Monserate of the SEC Enforcement and Investor Protection Department was recently held to discuss ways to further strengthen the partnership between the DSAP and the SEC on the thrust of protecting the industry against illegal investment scams that use the network marketing industry as a front.
We have been actively optimizing the opportunities to be able to present through media the advocacy of the DSAP so we can widen the reach to the Filipino public. This is through the courtesy of friends of the association as well as media people that share the same belief and passion as the DSAP. Recent features on the DSAP include print (feature in the Philippine Star article authored by Josiah Go), television (feature in ANC’s Shoptalk) and radio (feature in DZRH entrepreneurship program).
The synergy and willingness to get involved is key to the success of the relevant projects that have been lined up for the year. We enjoin everyone to continue to be actively involved with the highest degree of enthusiasm and vigor that the industry is known for, so we can more effectively fulfill our goals not only for our member companies but for the millions of Filipinos who rely on our industry for meaningful income.