Regulatory Alerts2019-09-18
SEC Memorandum Circular No. 19 s.2019: Disclosure Requirements for Financing and Lending Company Advertisements and Online Lending Platform Reporting
The Securities and Exchange Commission of the Philippines mandates that all registered Financing and Lending Companies disclose their corporate name, SEC registration number, and Certificate of Authority in all advertisements and online lending platforms. These entities are required to register their online lending platforms as business names and submit affidavits of compliance reporting existing and prospective platforms within specified timeframes. Non-compliance with these disclosure, registration, and reporting obligations subjects the companies to specific monetary penalties, suspension of activities, or revocation of their certificates of authority.
Share