Securities and Exchange Commission (Philippines) in Bacolod, Western Visayas

The SEC publishes a public-facing list of lending and financing companies that hold a Certificate of Authority under RA 9474 and RA 8556. Borrowers can verify whether a counterparty is a registered entity before transacting, and complaint guides cite this list to support the threshold question of 'is this lender SEC-authorised?' Operating without inclusion on this list, or operating an Online Lending Platform not disclosed to the SEC under MC No. 19 (2019), is the basis for cease-and-desist orders.

The SEC operates the FinCare Investor and Financial Consumer Protection Department portal, which accepts complaints against SEC-regulated lenders, financing companies, and online lending platforms. The portal is the SEC analogue of BSP's Consumer Assistance Mechanism for non-bank lenders, and is the recommended escalation channel after the consumer has attempted resolution with the company.

The SEC publishes its issued cease-and-desist orders (CDOs) on a single index page, including orders against unregistered online lending platforms, unauthorised financing companies, and entities operating in violation of RA 9474, RA 8556 and MC No. 19. Borrowers and complainants reference this index to establish a counterparty's regulatory status and to cite past SEC findings in complaint letters and small-claims pleadings.

SEC Memorandum Circular No. 19, Series of 2019, requires every financing or lending company operating an Online Lending Platform (OLP) to disclose to the SEC and to the borrower the names and details of all OLPs it operates, all third-party service providers, and the data the platform collects from users. It mandates that the SEC's authority to operate be reflected in app-store listings and on the platform itself, and forms the disclosure backbone of subsequent SEC enforcement against unregistered or undisclosed OLPs.

SEC Memorandum Circular No. 18, Series of 2019, prohibits financing and lending companies — including their online lending platforms — from engaging in unfair debt-collection practices. The Circular bars use or threat of violence; obscene or profane language; communication of debt to persons other than the borrower's family or household; contacting persons in the borrower's contact list other than co-makers, guarantors and references; false representations such as posing as government agents or attorneys; publication of borrower information on social media for shaming; and contact between 6:00 a.m. and 10:00 p.m. only. It defines the administrative penalties for each violation.