CEAZAR PACIFIC MONEY LENDING CO. LTD. 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
Date Posted: 21 July 2020
The Securities and Exchange Commission (the “Commission”)has receivedcomplaints against CEAZAR PACIFIC MONEY LENDING CO. LTD.mainlyalleging that the entityis providinglending services to the public without the necessary secondary license from the Commission.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 authorityby 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 advertisementsin whatever form withoutauthorityfrom the Commission. Based on the records of the Commission, CEAZAR PACIFIC MONEY LENDING CO. LTD.does not have aCertificate of Authority to Operate as a Lending/Financing Company.Hence, said entity hasno authority to engage in any kind of lending activities. CEAZAR PACIFIC MONEY LENDING CO. LTD.had registeredwith the Commission asa partnership. On 21 June 2017, however, theCorporate Governance and Finance Department (the “Department”)revokedtheentity’sCertificate of Registration for failure to obtaina Certificate of Authority to Operate as a Lending/FinancingCompany.In view of the foregoing, the public is hereby advised to avoidor stopparticipating in any kind of credit activities conductedbyCEAZAR PACIFIC MONEY LENDING CO. LTD.and dealing with any individual representing it.The public may report any information aboutCEAZAR PACIFIC MONEY LENDING CO. LTD.andothersimilar cases tothe Department throughemail at firstname.lastname@example.org.For theguidanceof the public.Pasay City, 21July 2020.