Regulatory Alerts2021-11-05
Moratorium on New Online Lending Platforms
The Philippine Securities and Exchange Commission imposed an immediate moratorium on the registration of new online lending platforms and barred existing financing and lending companies from launching new OLPs. Only platforms officially recorded by the regulator as of November 2, 2021, may continue operating under strict compliance monitoring while the agency finalizes dedicated licensing guidelines. This restriction remains in effect until formally lifted to mitigate consumer protection risks and address widespread regulatory violations in the sector.
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