By Joann Santiago-Villanueva
MANILA – The Securities and Exchange Commission (SEC) has revoked the corporate registration of Delisha Lending Investors and Trading Corp. for multiple violations of lending regulations and SEC rules.
In a news release Tuesday, the SEC said its Financing and Lending Companies Department found that the company failed to comply with the implementing rules and regulations of Republic Act 9474, or the Lending Company Regulation Act, as well as several SEC issuances.
Among the violations cited were the firm’s failure to submit reportorial requirements for several years, including its general information sheets, audited financial statements, special forms and interim semi-annual financial statements.
The company also allegedly failed to pay annual fees required of lending firms from 2014 to 2025.
The SEC likewise found that Delisha Lending failed to disclose the operation of several online lending platforms, including Peso Cow – Mabilis Pera Loan, Peso Cow, Bingo Peso: Philippine Cash Loan, and Kapit Cash – Online Quick Loan.
The company was also cited for operating undisclosed lending applications despite the moratorium on new and unrecorded online lending platforms, failing to provide updated contact information to the SEC, and failing to submit its impact evaluation reports for 2023 and 2024, as well as its 2022 business plan.
The SEC said seven officers and directors were held liable for the violations and were ordered to pay administrative fines of PHP50,000 each.
“In view of the multiplicity, duration, seriousness, and continuing character of [Delisha Lending’s] violations, and in light of its failure to heed the Commission’s notices and directives, the [SEC] finds that revocation is not only authorized by law but compelled by the circumstances,” the SEC order read.
“The violations are substantial, systemic, and deliberate. The record shows no genuine effort at correction, only repeated default and regulatory defiance,” it added. (Joann Santiago-Villanueva/PNA)
