As seen on SEC’s Official Facebook page:
The Securities and Exchange Commission (SEC), through the Financing and Lending Companies Department (FLCD), issues updated regulatory guidance on disclosure and Business Plan requirements relative to the cooling-off period under the Implementing Rules and Regulations of the Financial Products and Services Consumer Protection Act (FCPA-IRR).
𝗔𝗹𝗹 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗮𝗻𝗱 𝗹𝗲𝗻𝗱𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 are directed to review and align their loan documentation, disclosure practices, and Business Plan submissions accordingly.
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