THE Securities and Exchange Commission (SEC) has imposed an administrative fine of P50,000 on Global Dominion Financing Inc. after it was found to have engaged in unfair and abusive debt collection practices following a complaint filed by one of its borrowers.
The commission’s Financing and Lending Companies Department (FLCD) determined that Global Dominion violated provisions of SEC Memorandum Circular 18, Series of 2019, as well as the implementing rules and regulations (IRR) of Republic Act 11765, or the Financial Products and Services Consumer Protection Act (FCPA).
Apart from the fine of P50,000, Global Dominion was also ordered to strictly comply with fair, lawful, and consumer-protective debt collection standards in an order dated Jan. 28, 2026.
The SEC warned that any repetition of similar acts could result in higher monetary penalties, suspension, or revocation of the company’s certificate of authority.
The agency said that abusive and unfair debt collection practices, including the use or threat of violence, the use of insulting or profane language and contacting individuals in a borrower’s contact list other than guarantors or co-makers, were prohibited under SEC rules and RA 11765.
The order against Global Dominion stemmed from a complaint by a borrower who alleged that he was subjected to unfair collection practices by the company’s third-party collection agents due to delayed payments.
These allegedly included intercepting him on a public road to demand payment and sending repeated text messages and communications pressuring him to immediately settle partial amounts, while intimating adverse consequences for non-cooperation.
The SEC said that intercepting a borrower on the road without a court order or other lawful authority does not constitute a legitimate collection practice.
It added that the text messages and communications sent were tantamount to pressure designed to deter regulatory recourse and undermine consumer protection mechanisms.
“[Global Dominion] cannot evade administrative accountability by attributing the prohibited acts to collection agents or third-party providers,” the SEC said.
“This allocation of responsibility accords with the FCPA IRR framework, recognizing solidary responsibility or solidary liability for regulated entities and their accredited third-party service providers engaged in marketing and transacting with financial consumers,” it added.