PERA LOAN: FAST CASH PH

Exchange Commission Securities anc L

BAGONG PILIPINAS

FINANCING AND LENDING COMPANIES DEPARTMENT

IN THE MATTER OF: PERA LOAN: FAST CASH PH FLCD CDO Case No.11 Series of 2025. FOR: VIOLATION OF SEC MEMORANDUM

X Respondent. MEMORANDUM CIRCULAR NO.1O,SERIES OF 2021,AND FINANCIAL PRODUCTS AND CIRCULAR N0. 19, SERIES 0F 2019

SERVICES CONSUMER PROTECTION ACT

CEASEANDDESISTORDER

Platform ("OLP") named PERA LOAN: FAST CASH 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

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

Respondent has been operating 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

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

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 The Respondent's failure to disclose the operation of its OLP constitutes a clear violation

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Page 2 of 3 PERA LOAN:FAST CASH PH RE: Cease ndDesist Orde

including: platform, the Respondent effectively circumvents the Commission's regulatory and supervisory 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.

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 irreparable injury to financial consumers. 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

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

Such enforcement actions may include:

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

lending companies. prejudice to the public, and to safeguard the integrity of the regulatory framework governing 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

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

FAST CASH PH. In view thereof, the public is hereby strongly advised NOT to transact with PERA LOAN:

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Page 3 of 3 PERA LOAN: FAST CASH PH RE: Cease and Desist Order Y-.--

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

SO ORDERED.

(5 August 20 25, Makati City.

FILBERT CATALINO F.FLORES III, MNSA,CESO IV Director

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