CASH MART ASIA LENDING INC.
Securities and Exchange Commission Republic of the Philippines Department of Finance BAGONG PIL FINANCING AND LENDING COMPANIES DEPARTMENT IN THE MATTER OF: FinLenD ORDER No. 2025 - 21 Authority No. 1849) Email Address: bills@cashmart.ph, crish@cashmart.ph CASH MART ASIA LENDING INC. (SEC Reg. No CS201610084 and Certificate of Respondent. FOR: REVOCATION OF CERTIFICATE OF AUTHORITY TO CONTINUOUSLY FAILING TO COMPLY WITH SEO MEMORANDUM CIRCULAR NO. 03, SERIES OF SERIES OF 2021 ON THE CEILING/S ON INTEREST ONLINE LENDING PLATFORMS OPERATE 2022 OR THE IMPLEMENTATION OF BANGK0 SENTRAL RATES AND OTHER FEES CHARGED BY LENDING COMPANIES,FINANCING COMPANIES,AND THEIR NG PILIPINAS CIRCULAR NO.1133 AS A LENDING COMPANY FOR TO: CASH MART ASIA LENDING INC Greetings! referring to the above-entitled case; the original of which is file with the Commission. Please take notice that on 19 May 2025,an ORDER,copy hereto attached,was filed and emailed to you in advance Please acknowledge receipt hereof. 19 May 2025, Makati City. MM WM ATTY.KENNETH/OY A. QUIMIO OIC-Difector Scan the QR to verify the document Securities and Exchange Commission Republic of the Philippines Department of Finance BAGONG PILIPINAS FINANCING AND LENDING COMPANIES DEPARTMENT IN THE MATTER OF: FinLenD ORDER No. 2025 - 21 Authority No: 1849) crish@cashmart.ph CASH MART ASIA LENDING INC. Email (SEC Reg. No. CS201610084 and Certificate of Address: bills@cashmart.ph. Respondent. FOR: MEMORANDUM CIRCULAR NO. 03, SERIES OF REVOCATION OF CERTIFICATE OF AUTHORITY TO RATES AND OTHER FEES CHARGED BY LENDING COMPANIES, FINANCING COMPANIES, AND THEIR OPERATE CONTINUOUSLY FAILING TO COMPLY WITH SEC 2022 OR SENTRAL SERIES OF 2021 ON THE CEILING/S ON INTEREST ONLINE LENDING PLATFORMS NG PILIPINAS CIRCULAR NO.1133 THE IMPLEMENTATION OF BANGKO AS A LENDING COMPANY FOR ORDER OF REVOCATION its Implementing Rules and Regulations ("IRR"), Republic Act no. 9474, or the Lending Company Regulation Act of 2007 ("LCRA"), its IRR, and other issuances of the Securities and Exchange Commission ("SEC" or the "Commission") No. 8799, or the Securities Regulation Code ("SRC"), Republic Act 8556 or the Financing Company Regulation Act and on reportorial requirements, Lending Companies ("LC") are required to submit reports as may be required by the Commission; Pursuant to Republic Act No. 11232, or the Revised Corporation Code of the Philippines ("RCC"), Republic Act other Fees charged by Lending Companies, Financing Companies, and their Online Lending Platforms ("MC 3"); Implementation of Bangko Sentral ng Pilipinas Circular no. 1133 series of 2021 on the Ceiling/s on Interest Rates and On 03 March 2022, the Commission issued SEC Memorandum Circular No. 03, series of 2022 or the loans covered by the ceiling, to submit a Business Plan indicating the company's loan products and services as well as compliance with Section 5, whether non-submission or implementing amended Business Plan without prior approval of the Commission shall have the penalty of Suspension or Revocation of CA. the applicable pricing parameters, which must be compliant with Section 3 of MC 3. It is also provided that non- Further, Section 5 of MC 3 states that the Commission shall require all LCs and FCs, whether or not offering their Business Plans. Despite the issuance of Show Cause Letters and Notice of Deficiencies informing and directing these LCs and FCs to comply and show proof of compliance with their reportorial requirements, they still failed to observe the directives of the Commission; FinLenD issued Notices of Deficiencies and Show Cause Letters directing the Companies to comply and submit and its IRR, FCA, the terms and conditions of the CA, and any lawful order, decision, or ruling of the Commission; FCA, to suspend or revoke the Certificate of Authority to Operate ("CA") as a Lending Company and Financing Company, respectively for continuous failure to comply with the SEC requirements, continuous violation of the LCRA The Commission is authorized, under Section 9 of the LCRA and Rule 8 of its IRR as well as Section 14 of the existing rules and to act on cognate activities, the Certificate of Registration and Authority of CASH MART ASIA LENDING INC., including its Online Lending Platforms/Applications is hereby REVOKED for continuous non- revoke Certificates of Registration and of Authority of erring financing and lending companies in accordance with compliance with MC 3 series of 2022 for non-submission of its Business Plan. WHEREFORE, pursuant to SEC Office Order No. 545, series of 2023, granting the FinLenD the authority to This Order shall be immediately executory. SO ORDERED. Done in Makati CityPhilippines this th day of May 2025. UmdA ATTY.KENNEH/OY A.QUIMIO OIC-Director MM Scan the QR to verify the document
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