PESO101-FAST LOANS PH

Exchange Commission Securities and

BACONC PILIPINAS

FINANCING AND LENDING COMPANIES DEPARTMENT

IN THE MATTER OF: FLCD CDO Case No. JD Series of 2025.

PESO101-Fast Loans PH Respondent. FOR: VIOLATION OF SEC MEMORANDUM MEMORANDUM CIRCULAR NO. 10, SERIES CIRCULAR N0. 19, SERIES OF 2019, OF 2O21,AND FINANCIAL PRODUCTS AND

SERVICES CONSUMER PROTECTION ACT

CEASEANDDESISTORDER

Platform ("OLP") named PESO101-Fast Loans PH (the "Respondent"). ("Commission" or "SEC") concerning the alleged operation of an unrecorded Online Lending This refers to the information received by the Securities and Exchange Commission

ANTECEDENTS

disclosure was filed in accordance with Memorandum Circular No. 19, Series of 2019 ("MC 19"), which requires the reporting of any OLPs. A review of the Respondent's records on file with the Commission reveals that no

Respondent has been operating the OLP without proper disclosure, in violation of the following: Additionally, verified information received by the Commission confirms that the

Reporting of Online Lending Platforms; MC 19 - Disclosure Requirements on Advertisements and

Moratorium on the Registration of New Online Lending Memorandum Circular No. 10, Series of 2021 ("MC 10") Platforms:

Republic Act No. 11765, otherwise known as the Financial Products and Services Consumer Protection Act ("FCPA").

ISSUE

violations of MC 19,MC 10,and the FCPA Whether a Cease and Desist Order (CDO) should be issued against the Respondent for its

RULING

Order against the Respondent is warranted and necessary. After due consideration, the Commission finds that the issuance of a Cease and Desist

of the above-cited regulations. By operating an unregistered and undisclosed online lending platform, the Respondent effectively circumvents the Commission's regulatory and supervisory The Respondent's failure to disclose the operation of its OLP constitutes a clear violation

Scan the QR to verify the document

RE: Cease and Desist Order PESO101-Fast Loans PH Page 2 of 3

including: authority. Consequently, the general public particularly borrowers are exposed to potential risks,

Abusive and unfair debt collection practices;

Unjust interest rates;

Violation of data privacy rights.

irreparable injury to financial consumers. No. 5, Series of 2023, the Commission is empowered to issue a CD0 without the necessity of a the FCPA or its Implementing Rules and Regulations (IRR), or may unjustly cause grave or prior hearing if, in its judgment, the act or practice, unless restrained, constitutes fraud, violates Pursuant to Section 6(d)(4) of the FCPA, as implemented by SEC Memorandum Circular

"RULE 6

Powers of the SEC

FCPA, its IRR, and other applicable laws. Section 1. Powers of the Commission - The Commission shall, in FCPA, have the authority to impose enforcement actions the implementation of these Rules and the provisions of the against financial service providers for noncompliance with the

Such enforcement actions may include:

the Commission's judgment, the act or practice, unless the SEC FCPA IRR, or may unjustly cause grave or irreparable Commission's website." (Emphasis supplied) service provider without the necessity of a prior hearing if, in restrained, amounts to fraud or a violation of the FCPA and/or injury or prejudice to financial consumers. A CDo is immediately executory upon service or publication on the "Issuance of a cease and desist order ('CDO') to a financial

prejudice to the public, and to safeguard the integrity of the regulatory framework governing lending companies. finds it necessary to issue this Cease and Desist Order in order to prevent further harm or In light of the Respondent's continued unauthorized operation of its OLP, the Commission

operators, promoters, representatives, agents, and any and all persons claiming or acting on its behalf, are hereby DIRECTED TO IMMEDIATELY CEASE AND DESIST from engaging in, registration and approval from the Commission. conducting, promoting, or facilitating any lending-related activities or through any similar or related platforms or applications, whether online_or offline. without the necessary WHEREFORE, premises considered, PESO101-Fast Loans PH including its owners

Fast Loans PH". In view thereof, the public is hereby strongly advised NOT to transact with "PES0101

Scan the QR to verify the document

RE: Cease and Desist Order PESO101- Fast Loans PH Page 3 of 3 -X

publication on the Commission's official website. Let this Order be served immediately and be deemed executory upon service or

SO ORDERED. I5 August 20 25, Makati City.

FILBERT CATALINOF.FLORES II,MNSA,CESO IV DiYector

Scan the QR to verify the document