Securities and Exchange Commission

Infante 02:53 PM, Jul 07, 2021

July 7, 2021

Dear Ms. Christalyn,

Thank you for your request dated Jul 07, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for licensed of FASTCASH/SNAPERA/KUSOGPERA.

We received your request on Jul 07, 2021 and will respond on or before Jul 28, 2021 02:18:49 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://foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy0wNjMxMzc5NDg5NDEM, for request with ticket number #SEC-063137948941.

Thank you.

Respectfully,

Violeta Infante
FOI Officer

Gumtang- Remalante 03:45 PM, Jul 09, 2021

Dear Ms. Chavez,
 
Greetings!
 
Thank you for your request dated July 7, 2021 02:18 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
 
Your Request
 
You asked for the licenses of FASTCASH, SNAPERA, and KUSOGPERA.
 
Response to Request
 
Please be informed that Kusog Pera and SnaPera are the registered online lending platforms of Kusog Pera Lending Inc., with SEC Registration No. CS201916669 and Certificate of Authority to Operate as a Lending Company (CA) No. 3118. To date, the Commission has not issued any order of revocation of Kusog Pera Lending Inc.’s CA/license.
 
With respect to Fastcash, we would like to seek clarification on which particular lending or financing company you are referring to as there are several lending and financing companies with “fastcash” in its corporate name. You may send your response to cgfd_md@sec.gov.ph.
 
As for your allegations on possible violation of the SEC Memorandum Circular No. 18, series of 2019, you may file a formal complaint with us by following the instructions below:
 
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 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.

Atty. Rachel Esther Gumtang- Remalante
FOI Receiving Officer