In re Batis Loan

October 24, 2019SEC CDO CASE NO. 10-19-058IN THE MATTER OF: BATIS LOAN; HAPPY CREDIT; EASY CASH; WAHANA CREDIT & LOAN CORP.; PESOMAMA; and LIGHT KREDITENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT (EIPD), movant.CEASE AND DESIST ORDERThis resolves the Motion for Issuance of a Cease and Desist Order (Motion) filed on 22 October 2019 by the Enforcement and Investor Protection Department (EIPD) praying to enjoin the operators and owners of the following online lending applications: BATIS LOAN; HAPPY CREDIT; EASY CASH; WAHANA CREDIT & LOAN CORP.; PESOMAMA and LIGHT KREDIT (collectively referred to as the "Online Lending Operators"), their agents, representatives and promoters, as well as the owners of the hosting sites of the Online Lending Operators, from operating, engaging in, carrying out and/or promoting lending/financing business. RELEVANT FACTSThe present case stemmed from a memorandum received by the EIPD from the Corporate Governance and Finance Department (CGFD) referring the above-named Online Lending Operators who are operating without the necessary Certificate of Registration and/or Certificate of Authority to operate as a Lending/Financing Company.According to the Affidavit 1 attached to...