Philippines

Market Infrastructure

Japan, ASEAN Plan Joint QR Code Payment Services

By Nithya Subramanian | 15/03/2024

A standardised QR code payment system will be developed to connect service providers in different countries, facilitating cashless payments across borders.

Fintech / Regtech

BSP Studying Impact of Generative AI on Banking Industry

By Sanday Chongo Kabange | 12/03/2024

The BSP is seeking to introduce  ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.

ESG / Sustainability

Philippine SEC Adopts Sustainable Finance Taxonomy

By Sanday Chongo Kabange | 06/03/2024

The SEC said issuers of securities should refer to the taxonomy when making investment decisions or designing sustainable financial products and services.

Fintech / Regtech

BSP to Enhance Reporting Rules for Money Services Businesses

By Editors | 06/03/2024

MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

AML / KYC

Philippines: FIs That Deal with Unregistered DNFBPs Will Face Penalties

By Sanday Chongo Kabange | 29/02/2024

The AMLC said covered persons can only conduct business dealing with DNFBPs if they have valid registration certificates.

Market Infrastructure

Philippine SEC Consults on Cyber Resilience Guidance

By Sanday Chongo Kabange | 28/02/2024

The SEC and PSE are consulting proposed guidance for regulated entities on establishing and maintaining a cyber resilience framework.

Securities / Derivatives

Philippine SEC Eases IPO Rules for Energy Firms

By Sanday Chongo Kabange | 28/02/2024

The SEC has simplified registration procedures for energy firms to offer and sell shares to the public.

Big Picture

BSP Report Highlights Systemic Risk from Optimism Bias

By Mark Johnston | 26/02/2024

The central bank warns of systemic risks from optimistic market expectations in its 2023 Financial Stability Report.

Market Infrastructure

PSE to Complete Acquisition of Bond Market Operator by 2025

By Mark Johnston | 26/02/2024

The Philippine Stock Exchange has since 2017 been seeking to acquire the Philippine Dealing System Group, which operates the local bond market.