00:00The Securities and Exchange Commissioner, SEC, issued a cease and desist order against seven unregistered online lending firms.
00:07The CDOs were issued last August 15, 2025 on Cash Connect, Peso Suki Yes.com Lending Quick Cash Loan, Peso 101 Fast Loans PH,
00:18Peso Cao Mabilis Para Loan, Swift Loan Loan App Philippines, and Para Loan Fast Cash PH.
00:23The online lending platforms or OLPs violate SEC Memorandum Circular No. 19, Series of 1029.
00:32That requires financing and lending firms to disclose its OLPs.