THE Securities and Exchange Commission (SEC) has canceled the corporate registrations of both Koen Solutions OPC (Koen) and the Phil Maritime and Ocean Institute of Technology Inc. (PMOITI) for illegally soliciting investments from the public.

The SEC Enforcement and Investor Protection Department (EIPD) revoked the registration of Koen as a one-person corporation (OPC) for violation of Section 44 of Republic Act 11232, or the 'Revised Corporation Code' (RCC), in relation to Sections 8.1, 28.1 and 26.1 of Republic Act 8799, otherwise known as the 'Securities Regulation Code' (SRC).