SEC Revokes Cyfle OPC’s Registration - BusinessWorld Online

SEC revokes Cyfle OPC’s registration - BusinessWorld Online

THE Securities and Exchange Commission (SEC) has revoked the corporate registration of Cyfle One Person Corp. (OPC) following findings of unauthorized investment activities. In an order dated May 16, the SEC’s Enforcement and Investor Protection Department (EIPD) said it canceled Cyfle’s registration due to violations of Section 44 of Republic Act No. 11232, or the Revised Corporation Code (RCC), in relation to Section 6(i), paragraph 2 of Presi…

Digido contests SEC order

MANILA, Philippines – Financial technology platform Digido Finance Corp. is contesting the decision of the Securities and Exchange Commission (SEC) to revoke its license to operate, denying the regulator’s claim that it had operated without proper authority. In a statement on Monday, Digido said it had filed a motion for reconsideration before the SEC after

SEC revokes license, registration of online lending firm Digido

MANILA, Philippines – The Securities and Exchange Commission (SEC) revoked the corporate registration and license of online lending company Digido for operating unlicensed branches. The revocation also includes Unapay and Unacash, two other online lending platforms that Digido owns. In a statement on Friday, May 23, the SEC’s Finance and Lending Companies Department (FinLenD) found that Digido violated the Financing Company Act of 1998, which re…

SEC cancels Digido's financing license over unauthorized branches

The Securities and Exchange Commission (SEC) has cancelled the financing license of Digido Finance Corporation for opening and operating four branches without first getting the necessary certificate of authority from the Commission.Digido, which operates online lending platforms (OLPs) UnaPay and UnaCash, was found to have violated Section 6(A) of the Implementing Rules and Regulations of the Financing Company Act of 1998 which prohibits financi…