Telcos are required to collect customer ID information when selling SIM cards. The law is aimed at curbing the spread of spam text messages and scams.
The fund will exclusively invest in debt securities such as bonds, notes, commercial paper, debentures, and other evidence of indebtedness.
Financial institutions are directed to adopt "robust and layered" security controls and industry best practices to reinforce email security.
Lenders will be required to use standard loan application forms, which will make credit more accessible to small businesses.
Banks must develop ESRM systems that assess environmental and social risks arising from their operations, products, services, transactions, activities, and operating environment.
Financial intermediaries will be required to monitor for and report financial activity and transactions suspected to be related to human trafficking.
Digital banks must meet the same Basel III capital, liquidity and leverage requirements applicable to universal and commercial banks.
Binance is in late stage talks to buy a Philippine company that already has VASP and electronic money issuer licences.
Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.
The regulatory sandbox framework will enable the BSP to balance the perceived benefits of emerging technologies against the need to manage their risks.
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