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MANILA, Philippines – The Securities and Exchange Commission (SEC) has lifted its nearly five-year moratorium on the registration of new online lending platforms (OLPs), while raising capital requirements to strengthen consumer protection.
Under Memorandum Circular No. 20, Series of 2026, the SEC replaced the moratorium imposed under MC No. 10, Series of 2021 with a new regulatory framework covering financing and lending companies that offer financing and lending products through digital platforms.
READ: SEC suspends registration of new online lenders
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