THE SECURITIES and Exchange Commission (SEC) has issued a cease-and-desist order against the operators of a Facebook page using the name of Cash-Express Philippines Financing, Inc. in connection with lending activities that the regulator said were unauthorized.
In an order dated Oct. 9, the SEC said the Facebook page, named “Cash-Express Payday Loan,” used the financing company’s name, branding, and corporate information to promote loan-related services without the required authorization.
The order followed a report filed by Cash-Express on Sept. 2, in which the company denied owning, operating, or having any affiliation with the Facebook page.
According to the SEC, the page’s content could lead consumers to believe they were dealing with the registered financing company or its authorized representatives.
The regulator said it found no evidence that the page’s operators had secured a certificate of authority to operate as a financing or lending company or were authorized agents or service providers of a licensed financial firm.
“Respondents have no authority to engage in, or hold themselves out as engaged in, financing or lending activities,” the SEC said in its order.
The SEC also said the Facebook page had not been shown to be a duly recorded online lending platform (OLP) operating under a licensed financing or lending company.
The regulator cited Republic Act No. 8556, or the Financing Company Act of 1998, and Republic Act No. 9474, or the Lending Company Regulation Act of 2007, which require financing and lending companies to secure the necessary regulatory authority.
It also cited SEC Memorandum Circular No. 20, series of 2026, which sets prudential, disclosure, and market conduct requirements for financing and lending companies, including rules covering online lending platforms.
The SEC said conducting lending activities through social media does not exempt operators from regulatory requirements.
The regulator also warned that unauthorized lending activities could expose consumers to potential financial losses and risks involving their personal and financial information.
It said consumers could be induced to pay purported processing fees or provide identification documents and account credentials to operators whose authority has not been established.
Under the cease-and-desist order, the page’s operators, administrators, representatives, and other parties acting on their behalf must stop advertising, soliciting, arranging, or facilitating lending transactions without SEC authorization.
They are also prohibited from using Cash-Express’ corporate name, logo, branding, registration details, or certificate-of-authority information in connection with lending activities.
The SEC earlier issued a public advisory on Oct. 7 concerning the reported unauthorized use of Cash-Express’ corporate identity by the Facebook page. — Alexandria Grace C. Magno