The Securities and Exchange Commission (SEC) has revoked the registration and operating license of Gul-Zara Lending Investor Corp. after the firm failed to meet mandatory reporting requirements and defied moratorium on new digital lending platforms.

The corporate regulator’s Financing and Lending Companies Department canceled the firm's certificate of incorporation and secondary license following an investigation into systemic compliance failures dating back nearly two decades.

In a decision, the SEC also ordered the chairman, president, and four board members of the company to pay individual administrative fines of ₱100,000.

The enforcement action follows a show-cause order issued in January 2026, which detailed Gul-Zara Lending’s failure to submit various reportorial documents.

Investigators found the company had violated the Lending Company Regulation Act of 2007 and its implementing rules, specifically noting that the firm had failed to pay required annual fees since it was incorporated in 2009.

Regulators cited a “multiplicity” of infractions, including the late filing of general information sheets and annual financial statements. The company also failed to submit specialized lending company financial statements and interim reports for several years. Beyond basic financial disclosures, the SEC said Gul-Zara Lending neglected to provide official contact details as required under Memorandum Circular No. 28, Series of 2020.

The commission took particular aim at the company’s digital footprint, noting a failure to disclose online lending platforms it was operating. Despite a 2021 moratorium on new and unrecorded online lenders, Gul-Zara Lending continued to operate platforms known as Ulend-Fast Cash Loan and GZLend. The firm further ignored requirements to submit impact evaluation reports and business plans intended to monitor the effects of digital lending on the market.

In its ruling, the FLCD emphasized that the severity of the penalty was dictated by the persistent nature of the company’s non-compliance. The department stated that the blatant disregard for directives demonstrated a clear intent to bypass regulatory oversight. It further noted that the authority to operate a lending business is a privilege rather than a right, and the commission is compelled to revoke such licenses when public interest is at risk.

The revocation of Gul-Zara Lending’s corporate registration and certificate of authority marks one of the more significant enforcement actions this year under the Revised Corporation Code of the Philippines. The SEC continues to tighten its grip on the lending sector to purge unrecorded operators and ensure transparency in the growing digital finance space.