Philippines

The amendments aim to limit the coverage of officers requiring confirmation for appointment and to streamline documentary requirements.

The SEC seeks views from investment firms and fund managers on their expectations for sustainable funds, including issuance trends, investment drivers, and regulatory requirements.

The proposed guidance seeks to operationalise a BSP circular which was implemented earlier this year to curb predatory lending practices.

The DOJ and BAP will collaborate on stronger measures to combat online fraud, including to enhance enforcement and prosecution of cybercriminals.

The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.

The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.

The open finance roadmap paves the way for greater collaboration and data sharing between FIs and fintechs, which will help boost financial inclusion.

"RING" stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno

Known as FISTCs, the five institutions are tasked with purchasing bad loans and NPAs from lenders accumulated during the pandemic.

The change increases PESONet's daily batch settlement to two cycles, enabling better risk management for FIs and greater convenience for customers.