Manila, May 21 -- The Securities and Exchange Commission (SEC) has reiterated its directive for all financing and lending companies to provide borrowers more time to settle loans falling due within the enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ) period.
In a statement Thursday, the SEC said it is currently investigating financing and lending firms that allegedly refuse to comply with the Bayanihan to Heal As One Act, its implementing rules and regulations (IRR), and other applicable laws, rules and regulations.
"Any violation or noncompliance shall be dealt with to the full extent of the law," it warned.
The Commission, in an advisory issued on May 20, reminded financing and lending companies to ...