THE Securities and Exchange Commission (SEC) continues its crackdown against erring lending and financing companies as it revoked the corporate registrations and secondary licenses of 56 companies for failure to comply with reportorial requirements.

In an order dated May 29, the SEC Financing and Lending Companies Department (FinLenD) cancelled the primary registrations and certificates of authority to operating as a lending/financing company of 47 companies which have been declared delinquent pursuant to Republic Act No. 11232, or the Revised Corporation Code (RCC).

Section 177 of the RCC provides that the Commission may place any corporation under delinquent status in case of failure to submit the reportorial requirements three times, consecutively or intermittently, within a period of five years.

The 47 corporations were found to have failed to file their audited financial statements, general information sheets, director or trustee compensation report, and director or trustee appraisal or performance report three times within a period of five years.

The Commission also issued separate orders on May 19 for the revocation of the corporate registration of nine more companies for continuing noncompliance with their reportorial requirements.

Of these companies, two were found to have failed to comply with SEC Memorandum Circular No. 28, Series of 2020 requiring the submission of official e-mail account addresses and cellphone numbers for transactions with the Commission.

Meanwhile, the remaining seven failed to submit their business plans as required under SEC Memorandum Circular No. 3, Series of 2022, or the Implementation of Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021 on the Ceiling/s on Interest Rates and other Fees charged by Lending Companies, Financing Companies, and their Online Lending Platforms.

FinLenD noted that the companies failed to observe the directives of the Commission, despite the issuance of show cause letters and notice of deficiencies informing and directing them to comply and show proof of compliance with their reportorial requirements.

Below is the full list of lending and financing companies with revoked corporate registrations and secondary licenses:

	Revoked Companies without Business Plan Submission
1	Air Fish Lending Corp
2	Cash Mart Asia Lending Inc.
3	Cashbee Lending Services Inc.
4	Kayamo Atlas Lending Corp.
5	Lucky Shell Fintech Lending Corp
6	Qcash Finance Corp.
7	Whale Tail Lending Services Inc.
	Revoked Companies without MC 28 Compliance
1	The Golden Legacy Financing Corporation
2	Just Smile Lending Corporation
	Companies initially declared delinquent
1	Phil Holding Inc.
2	Cosmopolitan Realty Corp.
3	Philippine Shares Corporation
4	E.T. Kalaw Mgt. Co. Inc.
5	Esna Financing And Inv. Corp.
6	Faith Unlimited Financing Corp.
7	Omega Twenty XX Incorporated,
8	Bataan Financing Corp.
9	Amalgamated Pacific Securities Inc.
10	Household Finance Corp.
11	Finance & Inv. Technology Corp.
12	Advent Capital And Finance Corporation
13	Corporate Island Ventures Inc.
14	Isla Finance Corp.
15	Transfarm Finance & Leasing Co. Inc.
16	Mega Currencies Inc.
17	Centennial Financing Corp.
18	Pacific Ace Finance Phils. Corp
19	Swiss Finance & Inv. Inc.
20	Borough Financing Corp.
21	United Tree Car Loan Corp.
22	Green Cash Collection Services Inc
23	Ebiz Financial Services, Inc.
24	Cash Anywhere Services Hub, Inc.
25	Munticash Financing Corporation
25	Life Bonding Financing Corporation
26	Sun Finance Company, Inc.
27	Rush And Cash Philippines Financing Corporation
28	Yescredit Financing, Inc.
29	Central Pacific Capital Company, Inc
30	Jas Comprehensive Collection Services, Inc
31	Kerson Finance Corporation
32	Adequ8 Financing Inc.
33	Pk Fortune Credit And Finance Inc.
34	Altrio Group Of Companies Manila Inc.
35	Cashx Financing, Inc.
36	State UnionFinance Inc.
37	Premstar Corporation
38	Mangocash Financing Corporation
39	Okane Financing Corporation
40	Educredit Finance Corporation
41	Mango Cash Financing Corporation
42	Ecredit Finance Inc.
43	Suncredit.Ph Finance Corp.
44	Cashpa Pa Finance Inc.
45	Always Fortune International Inc.,
46	Cashonexpress Limited, Inc.
47	Asset Forward Financing Inc