THE Securities and Exchange Commission (SEC) has revoked the corporate registration and license of Delisha Lending Investor and Trading Corp. for repeated regulatory violations.
In a June 15 order, the SEC's Financing and Lending Companies Department canceled the company’s certificate of incorporation and its authority to operate as a lending firm under Republic Act 9474, or the Lending Company Regulation Act.
Delisha Lending was found liable for multiple violations of the law’s implementing rules and SEC issuances, having failed to submit required reportorial documents, including general information sheets, audited financial statements and interim financial reports, along with not paying annual fees, from 2014 to 2025.
It also noted the company’s failure to disclose several online lending platforms, including Peso Cow — Mabilis Pera Loan, Peso Cow, Bingo Peso: Philippine Cash Loan and Kapit Cash — Online Quick Loan, in violation of SEC Memorandum Circular 19, Series of 2019.
Delisha Lending was said to have continued operating undisclosed lending applications despite a regulatory moratorium under Memorandum Circular 10, Series of 2020 covering new and unregistered online lending platforms.
Other violations included failure to provide updated contact information as required under Memorandum Circular 28, Series of 2020, as well as non-submission of impact evaluation reports for 2023 and 2024 and its 2022 business plan under Memorandum Circula 3, Series of 2022.
Seven officers and directors of the company were ordered to pay administrative penalties totaling P350,000.
The SEC said the penalties were warranted due to the “multiplicity, duration, seriousness, and continuing character” of the violations.
