Securities and Exchange Commission(SEC)

Browse over 2894 from this government agency

Go Back

REQUEST
SUBMITTED

You have submitted an FOI request

Date: Feb. 18, 2021, 8:02 p.m.

PROCESSING
REQUEST

Your request is already in review

Date: 2021-02-22 07:44:19.000000

REQUEST
SUCCESSFUL

Your request was successful

Date: 2021-02-22 12:10:24.000000

4

RATE YOUR
REQUEST

How was your request?

Enforcement of RA 8042, as amended

Published by Securities and Exchange Commission(SEC) on Feb. 18, 2021.
Requested from SEC by G. Graciadas at 08:02 PM on Feb. 18, 2021.
Purpose: Public interest
Date of Coverage: 01/01/2020 - 02/18/2021
Tracking no: #SEC-623949018818

G.GRACIADAS Feb. 18, 2021, 8:02 p.m.

Hi, I would like to know if the SEC can take action against a lending company (administratively or criminally) for violations of RA 8042, as amended, which relate to money lenders. For example, RA 8042, as amended states - it shall also be unlawful for any person or entity to commit the following prohibited acts: Grant a loan to an overseas Filipino worker with interest exceeding eight percent (8%) per annum... Refuse to condone or renegotiate a loan incurred by an overseas Filipino worker... Does the SEC have a complaint process to handle these violations by lending/finance companies?

I.GONZALES Feb. 22, 2021, 7:44 a.m.

February 22, 2021 Dear Grace A., Thank you for your request dated Feb 18, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Enforcement of RA 8042, as amended. We received your request on Feb 18, 2021 and will respond on or before Mar 11, 2021 08:02:51 PM, in accordance with the Executive Order's implementing rules and regulations. Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy02MjM5NDkwMTg4MTgM, for request with ticket number #SEC-623949018818. Thank you. Respectfully, Isma Gonzales FOI Officer

A.GUMTANG- REMALANTE Feb. 22, 2021, 12:10 p.m.

February 22, 2021 Dear Grace A. Graciadas, Greetings! Thank you for your request dated Feb 18, 2021 08:02:51 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Your Request You asked for Enforcement of RA 8042, as amended. Response to Request Please be informed that Republic Act No. 10022 (An Act Amending Republic Act No. 8042, Otherwise Known as The Migrant Workers and Overseas Filipinos Act of 1995, as amended, Further Improving the Standard of Protection and Promotion of the Welfare of Migrant Workers, their Families and Overseas Filipinos in Distress, and for Other Purposes) is under the jurisdictions of the Department of Labor and Employment, Philippine Overseas Employment Administration, and the Department of Justice. You may directly coordinate with the above-mentioned concerned agencies through the following contact information: ATTY. SILVESTRE H. BELLO III DOLE Secretary Address: 7th Floor, DOLE Building, Intramuros, Manila Direct Line: 8527-2121, 8527-5523 Tel. No: 8527-3000 loc. 701, 703, 704, 705, 709 Email: [email protected] , [email protected] ATTY. BERNARD P. OLALIA POEA Administrator Address: Blas F. Ople Building Ortigas Avenue corner EDSA Mandaluyong City Hotlines: 722-11-44, 722-11-55 Email: [email protected] ATTY. MENARDO GUEVARRA DOJ Secretary Address: Padre Faura Street Ermita, Manila 1000 Direct Line No.: 8521-8348 Trunkline No.: 8523-8481 loc. 217 Email Address: [email protected] 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 the 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

Is this request offensive?

Requests for personal information and vexatious requests are not considered valid requests for Official Information.

If you believe this request is not suitable, you can report it for attention by the site administrators.