Rising Era Dynasty Inc. (RED Inc.) has asked the Securities and Exchange Commission (SEC) to lift its investor advisory against its business for alleged investment solicitation without the required regulatory approval.
In a statement, RED Inc. said it has filed a petition to the SEC clarifying it is soliciting any investment from the public and is instead selling “organic agricultural products for agri-farming and livestock and natural health products through its independent distributors nationwide.”
The company said the person cited in the advisory was one of its distributors.
“The company further informed the SEC said distributor was immediately subjected to investigation and later on expelled from the company’s roster of distributors for violation of the company’s code of ethics when she circumvented the marketing plan of the company,” RE D Inc. said in the statement.
“RED Inc., assured the SEC it does not tolerate its distributors to violate any SEC regulations or its own Code of Ethics. The company even submitted a copy of its code of ethics given to all distributors to the SEC,” it added.
Jared Era, RED Inc., president, said t upon receipt of the SEC’s advisory, the company instructed the company’s lawyer to issue “a stern warning to all distributors to strictly abide by the marketing plan and company’s code of ethics in doing business to avoid legal repercussions.”
Era said RED Inc. is a legitimate duly registered and operates with valid permits.