SEC Reduced Requirements for Financing and Lending Companies

2016COMPANY REGISTRATION AND MONITORING DEPARTMENTSEC REDUCED REQUIREMENTS FOR FINANCING AND LENDING COMPANIESNOTICENotice is hereby given that pursuant to SEC Resolution No. 544, series of 2016, the Commission En Banc has resolved to approve the Company Registration and Monitoring Department's (CRMD) rationalization of documentary requirements for application for Certificate of Authority to Operate as a Financing Company/Lending Company. The CRMD has modified the Application Form, Company's Information Sheet and Personal Information Sheet to consolidate some of the documents. Further, the following are no longer required for registration of financing and lending companies: (1) local police clearance; (2) certificate of good moral character; (3) work permit from the Department of Labor and Employment for foreign directors and officers; and (4) location map and copy of the lease contract or title of the building/unit where the company is located.Copies of the Checklist of Requirements and the revised Forms are available at the CRMD-Licensing Unit (LU) at the 3rd Floor, SEC Building, EDSA, Mandaluyong City and may be downloaded at the SEC website. For inquiries, please call 584-7187 and...