SEC studies lifting moratorium on new online lending platforms – BusinessWorld Online
The Securities and Exchange Commission (SEC) said it is studying a possible lifting of the moratorium on the registration of new online lending platforms.
“The moratorium is already long — it’s already long, so I said it’s about time to study [whether] to lift it,” SEC Chairperson Francisco Ed. Lim told reporters on the sidelines of an event on Monday.
In November 2021, the SEC imposed a moratorium on the registration of new online lending platforms run by financing and lending companies as it worked on rules to curb predatory lending and abusive debt collection practices.
“Liberalizing the rules — that’s my focus this year,” Mr. Lim said.–Alexandria Grace C. Magno