Draft SEC rules to lift moratorium on online lending platforms

THE Securities and Exchange Commission (SEC) has released draft rules that will lift the moratorium on the registration of online lending platforms (OLPs) but also impose higher capital requirements and stricter consumer protection standards. The proposed rules aim to strengthen regulatory oversight of the lending sector amid growing concerns over abusive collection practices and consumer protection risks. Under the draft memorandum circular, the SEC plans to impose a uniform minimum paid-up cap