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 鈥 it鈥檚 already long, so I said it鈥檚 about time to study [whether] to lift it,鈥 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.
鈥淟iberalizing the rules 鈥 that鈥檚 my focus this year,鈥 Mr. Lim said.–Alexandria Grace C. Magno
