Digital lending platform welcomes stricter industry standards following the lifting of the SEC’s moratorium
MANILA, Philippines — MocaMoca, the digital lending platform operated by Copperstone Lending Inc., continues to operate with active registration and legal authorization from the Securities and Exchange Commission (SEC), as the regulator rolls out a stricter compliance framework for financing and lending companies.
The SEC’s confirmation comes as Memorandum Circular No. 20 (MC 20), Series of 2026, takes effect, establishing enhanced requirements for the industry following the lifting of the Commission’s nearly five-year moratorium on new online lending platforms.
In an advisory, the SEC confirmed that Copperstone Lending Inc., along with other companies named in the notice, “hold active registration in the Commission’s records and are legally authorized to operate as financing and/or lending companies, subject to continued compliance with the Financing Company Act, Lending Company Regulation Act, Financial Products and Services Consumer Protection Act, and all applicable SEC rules, regulations, and issuances.”
Issued on July 7 and effective August 1, MC 20 introduces a stricter framework covering disclosure, prudential and market conduct requirements for financing and lending companies.
The new rules come as regulators seek to strengthen safeguards for borrowers and address concerns around predatory and unfair lending practices. SEC Chairperson Francis Lim said the Commission would “not tolerate the proliferation of predatory and unfair lending practices,” with the new safeguards intended to create an environment where “legitimate businesses and Filipino consumers can thrive.”
For MocaMoca, several of these principles are already embedded in its lending operations.
The platform discloses fees and the total cost of borrowing upfront before a loan is confirmed, with no hidden charges added afterward. Its borrower verification process is fully digital and built around a single valid government-issued ID to help minimize fraudulent or duplicate accounts.
Collections are conducted under a fair-conduct standard consistent with the Truth in Lending Act. MocaMoca also continues to engage with industry organizations, including the Fintech Philippines Association, to contribute to discussions around borrower protection and responsible lending practices.
“Our legal standing with the SEC reflects the same discipline we’ve built into MocaMoca from day one. And the new SEC rule formalizes much of what we were already practicing, and we see it as a validation of the direction that the industry needs to move in,” said David Balamon, CEO of Copperstone Lending Inc.
The SEC has likewise reminded the public to remain vigilant and report unfair lending practices to the Commission.
MocaMoca supports these efforts and remains focused on maintaining responsible lending and consumer protection standards as it continues to serve borrowers across the Philippines.