Securities and Exchange Commission(SEC)

August 19, 2020 Dear Grace A. Graciadas, Greetings! Thank you for your request dated Aug 14, 2020 04:34:13 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Your Request You asked for SEC Lending/Finance Company Complaint Intake Procedure. This refers to your requests filed under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch on 14 August 2020. 1. As to your request regarding the following: a. records on SEC’s policy for submitting complaints against lending/financing companies; b. documents clarifying whether or not the SEC has the authority to revoke licenses of lending/financing companies; and c. documents clarifying whether the SEC has the authority to block complaints or ignore complainants please refer to this link for the SEC’s policy for submitting complaints against lending and financing companies: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/complaints/ For clarification on the powers and functions of the Commission, kindly refer to the following laws, rules and regulations: a. Presidential Decree (PD) 902-A, or the Reorganization of the Securities and Exchange Commission with Additional Powers and Placing the said Agency under the Administrative Supervision of the Office of the President b. Republic Act (R.A.) No. 8799, or the Securities Regulation Code c. R.A. No. 11232, or the Revised Corporation Code of the Philippines d. R.A. No. 8556, or the Financing Company Act of 1998 and its Implementing Rules and Regulations (IRR) e. R.A. No. 9474, or the Lending Company Regulation Act of 2007 and its IRR f. The 2016 Rules of Procedure of the Securities and Exchange Commission You may also visit the Commission’s website at https://www.sec.gov.ph/ for more 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 . 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