SEC Facebook

The
Securities and Exchange Commission (the “
Commission
”
or “
SEC
”
)
has
encountered that an entity named
ACT MACHINERIES
appears to be engaged in
the
lending
business
.
Based on the records of the
Commission,
ACT MACHINERIES
is not registered
as a
corporation or as a partnership
with
the
SEC
. Likewise,
it
does not have a Certificate of
Authority to Operate as a Lending
/Financing Company.
Hence, said entity has
no
authority to engage in any kind of lending activities.
Republic Act No. 9474, otherwise known as the Lending Company Regulation Act of
2007
(LCRA),
and Republic Act No. 8556, or the Financing Company Act of 1998
(FCA),
provide that no lending or financing company shall conduct business unless granted
authority by
the Commission.
Likewise, the LCRA and FCA prohibit the act of
holding out as a lending or financing
company, or representing oneself as such,
through advertis
ements
in whatever form
without
authority
from the Commission
.
In view of the foregoing, the public is hereby advised to avoid
or stop
participating
in any kind of credit
activities
conducted by
ACT MACHINERIES
and dealing with any
individual
representing it.
The public may report any
information
about
ACT MACHINERIES
and other
similar ca
se
s
to
the
Department at
cgfd_md@sec.gov.ph
.
For
the
guidance
of the public
.
Pasay City, 24
September
2020