“Google will require developers offering personal loans in the Philippines to submit a personal loan app declaration, and submit necessary documentation before they could publish apps on Google Play Store,” the SEC said.In the declaration form, developers will need to state that they are registered with and duly licensed by the SEC to operate an online lending platform , or to perform lending-based crowdfunding activities, such as peer-to-peer lending, or to act as a crowdfunding intermediary.
Persons or entities operating as lending companies are required to register as corporations and to secure from the SEC the necessary authority to operate. In November 2021, the commission imposed a moratorium on new OLPs while it drafted guidelines on the registration and licensing of OLPs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC: Google tightens screws on PH lending firmsThe Securities and Exchange Commission has convinced technology giant Google to adopt a more stringent approval process for online lending apps in the Philippines as part of the agency’s efforts to tackle illegal and abusive lending practices.
Source: manilabulletin - 🏆 25. / 51 Read more »
One Cebu endorses BBM; PJ steps down as sec genTHREE weeks before the May 9, 2022 elections, One Cebu Party announced its endorsement of the presidential bid of former senator Ferdinand 'Bongbong' Marcos Jr. of...
Source: sunstaronline - 🏆 18. / 59 Read more »
Google to tighten screening process for lending appsGoogle will tighten the approval process of money lending applications upon the recommendation of the Securities and Exchange Commission (SEC), the regulator said on Tuesday.
Source: CNN Philippines - 🏆 13. / 63 Read more »
Chel Diokno slams misogynist attacks on Robredo daughter, calls on Google to remove linksHuman rights lawyer Chel Diokno on Monday asked Google to immediately remove links to online content falsely associating Vice President Leni Robredo&39;s eldest daughter Aika to pornography. 'We call on Google to remove these links immediately and to pro-actively prevent any more links containing the same abhorrent misogynostic attacks to be published. Google should not allow itself to be used for crimes against women,' Diokno said. It is totally uncalled for and the asshole who did that should be punished with maximum punishment of the law and if possible, public lashing. Nobody should go so low is trying to smear the beautiful talented daughters of the VP. If there is fault, point it out honestly not smear
Source: gmanews - 🏆 11. / 68 Read more »
Google to tighten screening process for lending appsGoogle will tighten the approval process of money lending applications upon the recommendation of the Securities and Exchange Commission (SEC), the regulator said on Tuesday.
Source: CNN Philippines - 🏆 13. / 63 Read more »
SEC: Google tightens screws on PH lending firmsThe Securities and Exchange Commission has convinced technology giant Google to adopt a more stringent approval process for online lending apps in the Philippines as part of the agency’s efforts to tackle illegal and abusive lending practices.
Source: manilabulletin - 🏆 25. / 51 Read more »