Mount Fuji Lending, Inc. is in compliance with all applicable laws, ordinances, codes, rules, requirements, and regulations of national and local governments and all agencies thereof relating to the operation of its business and the maintenance and operation of its properties and assets. No notices have been received by, and no claims have been filed against, Mount Fuji Lending, Inc. alleging a violation of any such laws, ordinances, codes, rules, requirements, or regulations, and, to the knowledge of the Directors and Officers, Mount Fuji Lending, Inc. has not been subject to any adverse inspection, finding, investigation, penalty assessment, audit, or other compliance or enforcement action.
The Anti-Money Laundering Council (AMLC) was established pursuant to Republic Act No. 9160, commonly referred to as the “Anti-Money Laundering Act of 2001” (AMLA), to safeguard the integrity and confidentiality of the country’s financial system and to ensure that the Philippines is not used as a money laundering location for the proceeds of any unlawful activity.
The AMLC is the Financial Intelligence Unit (FIU) of the Philippines. As an FIU is an investigative unit set up by each country to collect suspicious activity reports about illegal financial activity, such as money laundering and terrorism. An FIU also gives the results of its research to the government agencies that need to know about them. This is in line with their mandate under the AMLA, as amended by Republic Acts 9194, 10167, and 10365, as well as Republic Act 10168, dubbed the “Terrorism Financing Prevention and Suppression Act of 2012.”
The Certificate of Registration from the AMLC verifies that a firm has properly completed the AMLC registration process for the purpose of submitting reports as required by law, and that the company has done so. As a result, Mount Fuji Lending, Inc. joins the worldwide effort to combat money laundering and financing of terrorism.
The Bureau of Internal Revenue is mandated by law to assess and collect all national internal revenue taxes, fees, and charges, as well as to enforce all forfeitures, penalties, and fines associated with them, including the enforcement of judgments entered in its favor by the Court of Tax Appeals and ordinary courts.
The BIR Form 2303, alternatively known as the Certificate of Registration (COR), is an official document that confers legal authority on the holder to conduct business in the Philippines. It demonstrates that a business has registered as a taxpayer with the Internal Revenue Service (BIR).
The Local Government Unit (LGU) permit, often known as the Business permit, is a type of business license that assures that a business complies with all applicable local legislation.
Unless specifically exempted, all enterprises in the Philippines must get a business permit. A business permit is critical to obtain since it serves as your license to operate. This helps guarantee that all establishments pay their taxes to the appropriate local government office.
The National Privacy Commission is the country’s privacy watchdog; an independent agency charged with administering and enforcing the Data Privacy Act of 2012, as well as monitoring and ensuring the country’s compliance with international data protection standards.
The National Privacy Commission has released NPC Circular 17-01 on data processing system registration and notification requirements for automated decision-making. This is to guarantee that the Personal Information Processor and Controller adhere to the Data Privacy Act, its Implementing Rules and Regulations, NPC issuances, and other applicable laws.
The Securities and Exchange Commission (SEC) is the federal government regulatory agency responsible for supervising the corporate sector, capital market players, and the securities and investment instruments market, as well as for protecting the investing public. The Securities Regulation Code, Presidential Decree No. 902-A, as modified, the Corporation Code, the Investment Houses Law, the Financing Company Act, and other applicable legislation entrust the Commission with different authority and functions to ensure the welfare of the public.
Republic Act No. 9474, or the Lending Company Regulation Act of 2007, requires individuals or entities functioning as lending firms to register as corporations and obtain authorization to operate from the Securities and Exchange Commission. As a result, no company may issue loans to borrowers without first obtaining a certificate of authority to function as a lending company.