Regulatory Alerts2021-01-07
MC No. 37 s. 2020 — Regulatory Relief Measures to Manage the Effects of the COVID-19 Pandemic
The Securities and Exchange Commission issued this circular to grant regulatory relief to financing and lending companies affected by the COVID-19 pandemic pursuant to Republic Act No. 11494. The measures allow eligible entities to avail of relaxations regarding maintaining net worth, required investments, and the commencement of operations, subject to case-by-case evaluation. Companies must submit a board resolution and a letter-notification detailing their debt relief measures to borrowers to secure these benefits for a period of one year.
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