Securities and Exchange Commission

Infante 12:37 PM, Nov 19, 2021

November 19, 2021

Dear Henalin Abellon,

Greetings!

Thank you for your request dated Nov 19, 2021 12:05:32 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You requested the SEC to check on the unjust interest rates and unfair practices of certain companies with online lending apps.

Response to Request

Kindly visit our website containing the Advisories, Notices, other updates, and the procedures for filing complaints concerning lending companies:
https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/; and,
https://www.sec.gov.ph/lending-companies-and-financing-companies-2/complaints/.

You may email the accomplished Complaint Form to cgfd_md@sec.gov.ph with the email subject line in this format: COMPLETE NAME_RESPONDENT COMPANY_SUBJECT OF COMPLAINT.  To assist in the CGFD’s evaluation of the same, kindly attach a scanned copy of your valid government-issued I.D. and supporting evidence/documents such as disclosure statement, amortization schedule, receipts, promissory notes, and other relevant documents in connection with your loan transaction with the company. 

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 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,

Violeta Infante
FOI Receiving Officer