Copperstone Lending Inc. maintains active SEC registration as stricter rules reshape the digital lending sector
MANILA, Philippines — As the Securities and Exchange Commission (SEC) opens a new chapter for online lending in the Philippines, MocaMoca is reaffirming its continued legal authorization to operate under the regulator’s existing rules and requirements.
MocaMoca, the digital lending platform operated by Copperstone Lending Inc., holds active registration with the SEC and remains legally authorized to operate as a financing and lending company, subject to continued regulatory compliance.
The confirmation comes following the SEC’s issuance of Memorandum Circular No. 20 (MC 20), Series of 2026, which took effect on August 1 after being issued on July 7.
MC 20 marks a significant shift for the industry, lifting the SEC’s nearly five-year moratorium on new online lending platforms while introducing stricter standards covering disclosure, prudential requirements and market conduct.
The SEC previously confirmed in an advisory that Copperstone Lending Inc. and other companies covered by the notice “hold active registration in the Commission’s records and are legally authorized to operate as financing and/or lending companies,” subject to applicable laws, regulations and SEC issuances.
The regulatory changes come amid efforts to strengthen consumer protection in the rapidly evolving digital lending sector.
SEC Chairperson Francis Lim said the Commission would “not tolerate the proliferation of predatory and unfair lending practices,” emphasizing the need for an environment where “legitimate businesses and Filipino consumers can thrive.”
MocaMoca says its existing practices are aligned with several of the principles reinforced by the new framework.
Borrowers are presented with fees and the total cost of borrowing before a loan is confirmed, while its digital verification process uses a single valid government-issued ID to help reduce fraudulent or duplicate accounts.
The platform also follows fair-conduct standards in collections consistent with the Truth in Lending Act and continues to participate in industry discussions through groups such as the Fintech Philippines Association.
“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.
As the SEC strengthens oversight of the sector, it has also urged consumers to remain vigilant and report unfair lending practices.
MocaMoca supports the initiative and remains committed to responsible lending and consumer protection as it expands its reach among borrowers nationwide.