The Securities and Exchange Commission (SEC) said it’s studying a possible lifting of the moratorium on the registration of latest online lending platforms.
“The moratorium is already long — it’s already long, so I said it’s about time to review [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 latest online lending platforms run by financing and lending corporations because it worked on rules to curb predatory lending and abusive debt collection practices.
“Liberalizing the foundations — that’s my focus this 12 months,” Mr. Lim said.–Alexandria Grace C. Magno