September 22, 2017
SEC EN BANC CASE NO. 04-12-256
RONING SANTOS, complainant-appellee, vs. ELISAN CREDIT CORPORATION, with branches at Malolos City and Meycauayan City, ATTY. ELISEO SANTIAGO, PRESIDENT, respondent-appellant.
DECISION
This resolves the Memorandum on Appeal 1 filed on 13 April 2012 by Respondent-Appellant ELISAN CREDIT CORPORATION ("ELISAN"), praying that the En Banc REVERSE the Letter-Order dated 14 December 2011 2 and follow-up Letter-Orders dated 14 February 2012 3 and 22 March 2012, 4 of the then Complaints and Investigation Division ("CID"), now the Enforcement and Investor Protection Division ("EIPD"), which imposed a Fine of Fifty Thousand Pesos (P50,000) for allegedly operating unauthorized Lending Company branches in the cities of Malolos and Meycauayan in Bulacan, in violation of R.A. 9474 a.k.a. The Lending Company Regulation Act of 2007.
ISSUE
The sole issue in this case is whether the two establishments visited by the CID in Bulacan (acting on a tip from a certain RONING SANTOS) may be considered branches of ELISAN, considering that they purport to be law offices of a certain ELISEO SANTIAGO (who was at the same time, President...
