The Securities and Exchange Commission (SEC) has issued a cease and desist order against AI Quest Trading, a company accused of operating an unregistered investment scheme. The order, issued on September 15, 2026, specifically targets the firm and its President and CEO, Erica Aguilar.
Unlicensed Operations Under AI Claims
AI Quest Trading attracted investors with promises of high returns from AI-assisted stock trading. The company's website and social media channels promoted three investment packages, each offering unrealistic yields.
- Advantage Plan: 30% return within 7 days (₱500 to ₱5,000 investment)
- Proficient Plan: 70% return within 15 days (₱1,000 to ₱50,000 investment)
- Expert Plan: 150% return within 30 days (₱5,000 to ₱1,000,000 investment)
The SEC's Enforcement and Investor Protection Department (EIPD) found that AI Quest Trading did not possess the necessary registration or licenses to engage in public investment solicitation. Their operations were deemed to violate multiple sections of the Securities Regulation Code.
The Commission determined that the scheme satisfies all criteria of an investment contract under the Howey Test.
SEC Enforcement and Investor Protection Department
The SEC concluded that AI Quest Trading’s practices amounted to financial fraud, as they solicited investments based on the expectation of returns primarily from the efforts of others. This violates Republic Act No. 11765, the Financial Products and Services Consumer Protection Act.
Severe Penalties and Immediate Actions
The SEC has ordered the immediate shutdown of AI Quest Trading's online presence, including its website and social media accounts. Furthermore, Aguilar and involved agents are barred from transacting funds or disposing of any assets to safeguard the interests of affected investors.
The SEC has also warned that individuals promoting or soliciting investments for AI Quest Trading could face criminal charges, which may result in fines up to ₱5,000,000 or imprisonment for as long as 21 years.