July 21, 2020
CORPORATE GOVERNANCE AND FINANCE DEPARTMENT
SEC ADVISORY
The Securities and Exchange Commission (the "Commission") has received complaints against CEAZAR PACIFIC MONEY LENDING CO. LTD. mainly alleging that the entity is providing lending services to the public without the necessary secondary license from the Commission.
Republic Act No. 9474, otherwise known as the Lending Company Regulation Act of 2007 (LCRA), and Republic Act No. 8556, or the Financing Company Act of 1998 (FCA), provide that no lending or financing company shall conduct business unless granted authority by the Commission.
Likewise, the LCRA and FCA prohibit the act of holding out as a lending or financing company, or representing oneself as such, through advertisements in whatever form without authority from the Commission.
Based on the records of the Commission, CEAZAR PACIFIC MONEY LENDING CO. LTD. does not have a Certificate of Authority to Operate as a Lending/Financing Company. Hence, said entity has no authority to engage in any kind of lending activities.
CEAZAR PACIFIC MONEY LENDING CO. LTD. had registered with the Commission as a partnership. On 21 June 2017,...
