Securities and Exchange Commission

Infante 09:50 AM, Jan 03, 2022

January 3, 2022

Dear Ms. Austria,

Thank you for your request dated Jan 02, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Harrassing & Bombarding of Text and Calls on CASHCOW, COCOPESO, Pesokwento.

We received your request on Jan 02, 2022 and will respond on or before Jan 21, 2022 11:52:33 PM, in accordance with the Executive Order's implementing rules and regulations.  Meanwhile, you may want to 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/

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://foimc1s2019-dot-efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy0xNjU3Nzc1MzMzNzUM, for request with ticket number #SEC-165777533375.

Thank you.

Respectfully,

Violeta Infante
FOI Officer

Gumtang- Remalante 03:50 PM, Jan 04, 2022

January 4, 2022

Dear Clarice Valerie Austria,

Greetings!

Thank you for your request dated Jan 02, 2022 11:52:33 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You asked for Harrassing & Bombarding of Text and Calls on CASHCOW, COCOPESO, Pesokwento.

Response to Request

Please be informed that CASHCOW and COCOPESO are the recorded online lending platforms of Fast Coin Lending Corp, with SEC Registration No. CS20190000277 and Certificate of Authority to Operate as a Lending Company (CA) No. 3140. PESOKWENTO, on the other hand, is under Populus Lending Corporation with SEC Registration No. CS201914390 and CA No. 3066 however it is not recorded under our database as an online lending platform (OLP). 

We advise you to avoid using OLPs that are not recorded with the Commission.  Please see this link for your reference: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/ 
 
As for your allegations on possible violation of the SEC Memorandum Circular No. 18, series of 2019, on the Prohibition on Unfair Collection Practices, 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.

Respectfully,

Atty. Rachel Esther Gumtang- Remalante
FOI Receiving Officer