SEC orders Digido to stop operations
The Securities and Exchange Commission (SEC) has ordered Digido Finance Corp. to stop its financing operation. This, after it was found to have continued operating despite the revocation of its corporate registration and financing license last year.
In an order dated Feb. 18, the SEC’s Financing and Lending Companies Department (FLCD) held Digido administratively liable for violating Section 12(b)(1) and (2) as well as Section 14 of the Financing Company Act.
The SEC said these provisions prohibit entities from engaging in financing activities and representing themselves as financing companies without a valid certificate of authority and certificate of incorporation. They also penalize noncompliance with lawful SEC orders.
The regulator also imposed a P600,000 fine, consisting of P100,000 each against the company and its five officers. They include president Aleksei Kosenko, corporate secretary Juan Solomon Jr., independent director Leonardo Serrano Jr., treasurer Aries Felipe and compliance officer Leo Cezar Caballes.
The case stemmed from the SEC’s May 9, 2025, order revoking Digido’s certificate of incorporation and certificate of authority to operate as a financing company.
Despite this, an investigation showed that Digido continued its financing activities. These include processing and approving loan applications, disbursing loan proceeds, issuing disclosure statements and promissory notes and maintaining active loan accounts.
Digido argued that the revocation order was not yet final and remained subject to appeal. However, the FLCD rejected this claim, stressing that revocation orders are immediately executory under the 2016 SEC Rules of Procedure.
The SEC further found that Digido continued servicing and collecting loan payments through Fingertip Finance Corp., a wholly owned subsidiary of Singapore-based Robocash Pte. Ltd.
The regulator said these collection and servicing activities formed an integral part of financing operations, not mere residual actions from past transactions.
