Securities and Exchange Commission

Browse over 2718 requests from this government agency

Go Back

  • REQUEST SUBMITTED

    You have submitted an FOI request

    Date: 2021-08-08 23:02:40.073475

  • PROCESSING REQUEST

    Your request is already in review

    Date: 2021-08-09 10:24:14.550316

  • REQUEST SUCCESSFUL

    Your request was successful

    Date: 2021-08-09 16:49:08.173319

  • 4

    RATE YOUR REQUEST

    How was your request?

Robocash Finace

Requested from SEC by J. Reteo at 11:02 PM on Aug 08, 2021.
Purpose: Clarification
Date of Coverage: 07/01/2021 - 08/07/2021
Tracking no: #SEC-553187774322

Reteo 11:02 PM, Aug 08, 2021 

Hi i would like to inquire if robocash philippines have the license to operate as lending company.My friend borrow a money from the app of robocash.My friend paid 11,360 in 20 days for 7750 that he borrow from the app. They keep harrasing my friend to pay 14,670.But my friend refused to pay because he already paid the amount thru dragon pay.They keep adding the interest everyday since it take several days to process the payment. My friend use the money for emergency and because of high interest 2.10% per day he pay right away.Now they harrasing my friend and call all contacts of my friend on h

Infante 10:24 AM, Aug 09, 2021 

August 9, 2021

Dear Jaypril,

Thank you for your request dated Aug 08, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Robocash Finace.

We received your request on Aug 08, 2021 and will respond on or before Aug 27, 2021 11:02:40 PM, in accordance with the Executive Order's implementing rules and regulations.  Kindly await feedback from the appropriate department. 

Thank you.

Respectfully,

Violeta Infante
FOI Officer

Gumtang- Remalante 04:49 PM, Aug 09, 2021 

Dear Mr. Reteo,
 
Greetings!
 
Thank you for your request dated August 8, 2021 11:02 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
 
Your Request
 
You asked if Robocash Philippines has the license to operate as a lending company.
 
Response to Request
 
Please be informed that the Corporate Governance and Finance Department of the SEC has revoked Robocash Finance Corp.’s Certificate of Authority to Operate as a Financing Company (CA) in the CGFD Order No. 237, Series of 2019. The same Order was affirmed by the Commission En Banc in a Decision dated 22 April 2021, which became final and executory on 15 May 2021.
 
Thus, Robocash Finance Corp. has no authority from the SEC to engage in any kind of lending activities. 
 
For complaints against individuals/companies engaging in lending activities without the necessary CA, you may refer them to the Enforcement and Investor Protection Department at epd@sec.gov.ph.
 
Your right to request a review
 
If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to Commission Secretary at comsec@sec.gov.ph. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.
 
If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).
 
Thank you.

Respectfully,

Atty. Rachel Esther Gumtang- Remalante
FOI Receiving Officer

Is this request offensive?

Requests for personal information and vexatious requests are not considered valid requests for Official Information.

If you believe this request is not suitable, you can report it for attention by the site administrators.