The Philippine Securities and Exchange Commission has opened a second consultation on substantially revised draft guidelines that would lift the moratorium on online lending platforms and establish prudential, disclosure and market conduct requirements for financing and lending companies. The revisions follow feedback on an earlier draft and adopt a more streamlined, disclosure-based and risk-proportionate approach. Key changes cover the definition and classification of online lending platforms, paid-up capital and annual licensing fees, business plan requirements, operational and disclosure standards, Credit Information Corporation compliance, consumer safeguards and transition arrangements. Comments are due by June 15, 2026, after which the commission will further refine the proposed framework before finalization.
2026-06-09Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission launches second consultation on revised framework to lift online lending platform moratorium
The Philippine Securities and Exchange Commission has launched a second consultation on revised guidelines to lift the online lending platform moratorium and regulate financing and lending companies. The proposal takes a more streamlined and risk-proportionate approach to prudential, disclosure, operational and consumer protection requirements. Comments are due by June 15, 2026.