Securities and Exchange Commission

Infante 04:57 PM, Jan 20, 2022

January 20, 2022

Dear Ms. Clarice Valerie,

Thank you for your request dated Jan 20, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Legit App?.

We received your request on Jan 20, 2022 and will respond on or before Feb 10, 2022 04:07:03 PM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy04MjIxMjkzOTU4ODgM, for request with ticket number #SEC-822129395888.

Thank you.

Respectfully,

Violeta Infante
FOI Officer

Gumtang- Remalante 05:10 PM, Jan 25, 2022

January 25, 2022

Dear Clarice Valerie Austria,

Greetings!

Thank you for your request dated Jan 20, 2022 04:07:03 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You asked for Legit App?.

Response to Request

Please be informed that Juanhand is a registered online lending platform (OLP) of WeFund Lending Corp. (WeFund). WeFund is a company registered with the Securities and Exchange Commission with Certificate of Registration No. CS201825672 and Certificate of Authority to Operate as a Lending Company (CA) No. 2844.
 
To date, the Commission has not issued any order of suspension/revocation of WeFund’s CA. Thus, WeFund may engage in lending activities. For a complete list of recorded online lending platforms, please refer to the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/?hilite=%27toga%27.
 
As for PERA UP, this is not a recorded OLP of any registered financing and lending company. You may report this OLP operating without the necessary CA to the Commission by filing a formal complaint:

1. To File a Formal Complaint Against a Lending or Financing Company
Download and fill out the Complaint Form completely and accurately: https://www.sec.gov.ph/wp-content/uploads/2021/04/2021FORM_Updated-Complaint-Form.docx

2. Provide the necessary attachments, namely:
a. relevant documents and evidence that will support your claim/s or allegation/s ( e.g. screenshots of text messages and conversations with the financing/lending company);
b. loan agreement (if any);
c. valid government-issued ID; and
d. evidence/proof that you have exhausted all remedies against the company concerned before filing your complaint with the SEC.

3. Indicate the following personal information of the complainant in the complaint form:
a. personal e-mail address;
b. personal contact number/s; and
c. address (in the Philippines) where you may be furnished a copy of letter/s and order from the Commission.

4. Use the below format in the subject head of e-mail in sending the complaint form to cgfd_md@sec.gov.ph:
COMPLETE  NAME_RESPONDENT COMPANY _SUBJECT OF COMPLAINT
(ex: JUAN DELA CRUZ_ABC LENDING_DISCLOSURE STATEMENT VIOLATION)
 
5. Submit one complaint form per respondent company.
 
For more information, refer to this link: http://www.sec.gov.ph/lending-companies-and-financing-companies/complaints/
 
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 the 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