Copperstone Lending Inc. remains authorized to operate under strengthened industry framework
MANILA, Philippines — MocaMoca, the digital lending platform operated by Copperstone Lending Inc., remains actively registered with the Securities and Exchange Commission (SEC) and legally authorized to operate as a financing and lending company as the regulator implements new industry-wide requirements.
The SEC confirmed Copperstone Lending Inc.’s active registration in an advisory issued as the Commission strengthened its regulatory framework for financing and lending companies.
The development comes alongside the implementation of Memorandum Circular No. 20 (MC 20), Series of 2026, which took effect August 1 after being issued July 7.
MC 20 lifted the SEC’s nearly five-year moratorium on new online lending platforms and introduced stricter requirements covering disclosure, prudential standards and market conduct.
In its advisory, the SEC said Copperstone Lending Inc. and 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 applicable laws and SEC rules.
The strengthened framework comes as the regulator steps up efforts to protect borrowers and curb unfair lending practices.
SEC Chairperson Francis Lim said the Commission would “not tolerate the proliferation of predatory and unfair lending practices,” adding that the objective is to create a lending environment where “legitimate businesses and Filipino consumers can thrive.”
MocaMoca says several of the practices emphasized by the new framework are already incorporated into its platform.
The company discloses fees and total borrowing costs before a loan is confirmed and does not add hidden charges after confirmation. Borrower verification is conducted digitally using a single valid government-issued ID, helping reduce fraudulent or duplicate accounts.
Collections follow a fair-conduct standard consistent with the Truth in Lending Act, while MocaMoca continues to engage industry groups including the Fintech Philippines Association on borrower protection and responsible lending.
“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 encouraged the public to remain vigilant and report unfair lending practices to the Commission.
MocaMoca supports the initiative and continues to uphold consumer protection and responsible lending standards as it grows its borrower base across the Philippines.