Licenses, registrations of 401 lending firms canceled – SEC

The Securities and Exchange Commission (SEC) on Monday said that it had canceled the registrations and licenses of 401 lending companies over their failure to comply with reportorial requirements.

The revocation order was issued last May 30 by the corporate regulator's Financing and Lending Companies Department.

"The subject companies were found to have failed to file their audited financial statements, general information sheet, director or trustee compensation report, and director or trustee appraisal or performance report and the standards or criteria for the assessment," the SEC said in a statement.

All companies had failed to file the required reports at least three times over a five-year period and were declared delinquent after ignoring an October 2023 notice to avail of an amnesty.

Delinquent firms were given another six months to comply but all respondents again failed to do so, the SEC said.

Under SEC Memorandum Circular 19, series of 2023, failure to comply within six months from the receipt of the order of delinquency authorizes the commission to revoke corporate registrations.

The list of lending companies that had their primary and secondary licenses revoked can be accessed at https://www.sec.gov.ph/wp-content/uploads/2025/06/2025Advisories_401-Delinquent-Lending-Companies_Order.pdf.

Source: Manila Times

SEC: Sustainability a long-term strategy

An official of the Securities and Exchange Commission (SEC) has acknowledged the importance of environmental, social and governance (ESG) principles in corporate strategy.

Speaking at the 2nd Philippine Sustainability Now Forum last week, SEC Commissioner Javey Paul Francisco said that as the overseer of the Philippine corporate sector, the SEC promotes sustainability vis-à-vis the pressing needs for climate action, renewable business solutions and green workforce development.

"At the SEC, we believe that true progress toward a sustainable future is achieved not in leaps and bounds, but through cultivating consistent sustainable habits and embedding them within our organizational systems," Francisco said, noting that ESG is not just a regulatory requirement but a strategic approach to ensuring long-term competitiveness and resilience in a rapidly changing global market.

The SEC has made ESG integration a core part of its regulatory and advocacy work, as contained in the 2019 Sustainability Reporting Guidelines for Publicly Listed Companies.

It also extends these initiatives to small and medium enterprises through the SMILEES road show, an educational campaign on ESG practices tailored for smaller businesses.

The corporate regulator is likewise pushing for the development of the Philippine Sustainable Finance Taxonomy Guidelines, which aims to provide clear, credible standards for identifying and promoting sustainable investments in the country.

The forum was organized by the Italian Chamber of Commerce in the Philippines Inc.

Source: Manila Times

Small businesses, startups need more funding options

The Securities and Exchange Commission (SEC) said available financing instruments for micro, small, and medium enterprises (MSMEs) need to be expanded to boost their business operations.

“In our continuous bid for financial inclusion, we recognize that there really is a need to broaden the financing instruments available for MSMEs,” SEC Commissioner Karlo S. Bello said during the 11th and last leg of the commission’s 2023 nationwide roadshow on capital formation for MSMEs and startups held in Tacloban City.

“Together with our industry partners, we wish to present the different ways you can acquire financing through the capital market in order to jumpstart your business or expand your operations,” he added.

With this, the SEC pitched crowdfunding as an “accessible and viable capital-raising option for MSMEs and startups for their business expansion.”

The corporate regulator defines crowdfunding as a fundraising activity done by startups and SMEs where the public can fund a business idea via an online platform.

“It is unmistakable that MSMEs and startups have a crucial role in driving economic growth, fostering innovation, and generating employment,” Tacloban City Mayor Alfred S. Romualdez said in his opening remarks delivered by City Planning and Development Coordinator Janis Claire S. Canta.

“Understanding the challenges they face in accessing capital and in navigating the financial market, we have committed ourselves to create an environment conducive to entrepreneurship and investment,” he added.

Source: Business World