Securities and Exchange Commission(SEC)

February 22, 2021 Dear Grace A. Graciadas, Greetings! Thank you for your request dated Feb 18, 2021 06:20:02 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Your Request You asked for Can Lenders Confiscate Bank Checks? 123 Finance Corporation. Response to Request For more information on the relevant laws, rules and regulations being implemented by the Commission with respect to financing and lending companies, you may visit the Commission’s website at https://www.sec.gov.ph/. Moreover, the SEC has no authority to rule upon violations of Batas Pambansa Blg. 22. This issue must be threshed out before a court of competent jurisdiction. If the complaint against a lending or financing company involves allegations pertaining to acts which may give rise to criminal/civil liabilities, or involve the application of other laws, rules, and regulations that are not within the power of the SEC to enforce, the same should be filed before the regular courts which have jurisdiction over the subject matter. Nevertheless, we are looking closely at this company for possible violation of the laws, rules and regulations implemented by the SEC. For your information. Your right to request a review If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to Commission Secretary thru [email protected]. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request. If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011). Thank you. Respectfully, Atty. Rachel Esther Gumtang- Remalante FOI Receiving Officer