HUPAN LENDING TECHNOLOGY INC. doing business under the names and styles of CASHME, SUKILOAN, PESOPOLY, AND LOANTAYO (formerly HUPAN LENDING TECHNOLOGY INC.)

Securities and Exchange Commission

BACONG PILIPINAS

FINANCING AND LENDING COMPANIES DEPARTMENT

IN THE MATTER OF FINLEND CDO Case No._01

Series of 2025

Avenue, Bel-Air, Makati City Cashme,Sukiloan, Doing business under the Names and Styles of HUPAN LENDING TECHNOLOGY INC. (Formerly:Hupan (CS20191197,CA No.2879) Room 303.Executive Building 369 Jupiter Corner Makati Pesopoly, Lending TechnologyInc.) and Respondent. LoanTayo FOR: VIOLATION OF MEMORANDUM OF 2021, FINANCIAL PRODUCTSAND SERVICES CONSUMER PROTECTION ACT CIRCULAR MEMORANDUM CIRCULAR NO.1O,SERIES AND ITS IMPLEMENTING RULES AND REGULATIONS. 19, SERIES OF 2019

CEASEANDDESISTORDER

Financing and Lending Companies Department ("FinLenD") regarding Hupan Lending Technology Inc. Doing business under the Names and Styles of Cashme, Sukiloan, Pesoply, and LoanTayo ("Hupan Lending" for operating the unrecorded Online Lending Application ("OLA") "Magic Peso". This refers to the results of monitoring and surveillance, and the complaints received by the

Antecedents

2019,under registration no. CS20191197. The Commission approved its license to engage in lending business under Certificate of Authority No. 2879. Its primary purpose is: Hupan Lending is a registered stock corporation registered with the Commission on 23 January

"to engage in the business of direct lending without, however, engaging in pawnbroking under P.D. 114 and financing under R.A. 8556, provided that borrowing shall be sourced from not more than 19 lenders including stockholders."

practices from an OLA named Magic Peso, FinLenD conducted its own surveillance and investigation. The Lending. Internet sources will further support FinLenD's findings, to wit: results show that Magic Peso is an unrecorded and unregistered OLA owned and operated by Hupan Acting on complaints received from borrowers who claimed to experience abusive collection

bravozuloromeo.com https://bravozuloromeo.com

Magic Peso

Loan Terms and Conditions. Lender information: The Magic Peso Platform is owned and operated by Hupan Lending Technology Inc., a domestic corporation duly

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Page 2 of 3 Hupan Lending Technology Inc. and styles of Cashme, Sukiloan, Pesopoly,and Loan Tayo doing business under the names

RE:Cease.and.DesistOrde

2019 ("MC 19"), which requires the Disclosure of Online Lending Platforms, and Memorandum Circular No. 10, Series of 2021 ("MC 10), which imposes a Moratorium on New OLPs. Furthermore, and as a For operating an unrecorded OLA, Hupan Lending violated Memorandum Circular No. 19, Series of

and customer of Magic Peso outside the protection afforded by the Financial Products and Services Consumer Protection Act and its Implementing Rules and Regulations ("FCPA-IRR"). consequence of operating an unrecorded OLA,Hupan Lending has deemed to have placed each borrower

Issue

of Cease and Desist Order against it. Whether Hupan Lending's operation of the unrecorded OLA, Magic Peso, Warrants the imposition

Ruling

The Commission finds issuing a Cease and Desist Order against Hupan Lending warranted

operating an undisclosed OLA, the Commission's supervisory authority and power over this OLA are rendered useless. Moreover, its borrowers are at risk of experiencing abusive collection practices, high- interest rates, and violation of its data privacy rights. Hupan Lending's nondisclosure of its operation of Magic Peso violates MC 19 and MC 10. By

6(d)4)of the FCPA,as implemented by MC No.05,Series of 2023,authorizes the Commission to issue To ensure that the Commission is able to perform this mandate and to protect the public, Section

FCPA IRR, or may unjustly cause grave or irreparable injury or prejudice to financial consumers, to wit: cease and desist order without the necessity of a prior hearing if in the Commission's judgment,the act or practice,unless restrained, amounts to fraud or a violation of the provisions of the FCPA and/or the SEC

Powers of the SEC "RULE 6

Section 1. Powers of the Commission. - The Commission shall, in the implementation of these Rules and the provisions of the FCPA, have the following powers:

D.Enforcement. The Commission shall have the authority to impose enforcement and authority of the Commission. actions against financial service providers for noncompliance with the provisions of the FCPA,SEC FCPA IRR,and other existing laws pertinent to the jurisdiction

Such enforcement actions may include the following:

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

issuance of a CDO is warranted in the instant case, not only to penalize Hupan Lending but also to prevent fraud, injury, or harm to the public and financial consumers who are at Hupan Lending's mercy. On account of Hupan Lending's continuing operation of Magic Peso, the Commission holds that the

under the names and styles of Cashme, Sukiloan, Pesopoly, and Loan Tayo including its owne WHEREFORE, premises considered, HUPAN LENDING TECHNOLOGY INC. doing busin

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Hupan Lending Technology Inc... Page 3 of 3 doing business under the names and styles of Cashme,Sukiloan Pesopoly and Loan Tayo RE: Cease and Desist Order

AND, IN THEIR BEHALF, are hereby DIRECTED to immediately CEASE AND DESIST from engaging in, carrying out, promoting and facilitating any lending activity or transaction. operators,promoters,representatives,agents,AND ANY AND ALL PERSONS CLAIMING AND ACTING FOR

AND DESIST from offering and advertising their lending business through the Internet or any other media and to delete or remove any materials involving or covering the same. promoters, representatives, agents, and any persons acting for and on their behalf are directed to CEASe CASHME, SUKILOAN,PESOPOLY,LOAN TAYO AND MAGIC PESO and its oWners, operators,

SOORDERED.

May 2025, Makati City.

VmAh Q W aAA Atty. Kenneth Joy A. Quimio OIC-Director

YMA C

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Apple Store Mirza Natadisastra - natadisastra@apple.com

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