Philippines

Fintech / Regtech

BSP Unveils Timeline for New International Transaction Reporting System

By Editors | 18/08/2023

A soft launch of the new data collection system will be in January 2024. Full implementation is set for April 2024.

Market Infrastructure

Philippines to Implement T+2 Stock Settlement Cycle on 24 Aug

By Sanday Chongo Kabange | 16/08/2023

The move will enhance operational efficiency, reduce risk, and align with overseas markets, said PSE CEO Ramon Monzon.

Securities / Derivatives

BSP Issues New Rules for UITFs on the Use of Benchmarks

By Editors | 14/08/2023

The BSP specifies a one-year transition period to allow unit investment trust funds to review their benchmarks and make changes where needed.

Fintech / Regtech

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

Philippines: Bill to Establish Sovereign Wealth Fund Becomes Law

By Editors | 18/07/2023

The Maharlika Investment Fund still faces criticism amid expectations that it will propel economic growth and help attract foreign investors.

ESG / Sustainability

BSP Calls on Banks to Disclose ESG Impact of Assets

By Editors | 14/07/2023

The BSP is collaborating with scientists to develop a metric that will be used to score banks on their efforts to fight climate change.

Market Infrastructure

BSP Issues Draft Guidelines on Operational Resilience

By Mark Johnston | 14/07/2023

Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

BSP Issues New Rules on Bank Stockholders’ Fitness and Propriety

By Mark Johnston | 13/07/2023

The draft circular sets out the criteria and approval process for bank stockholders, aiming to ensure their fitness and propriety.

AML / KYC

Philippine Government Agencies, Departments Ordered to Adopt New AML Strategy

By Ranamita Chakraborty | 07/07/2023

The Philippines is looking to remove itself from the Financial Action Task Force’s “grey list” by improving its efforts in anti-money laundering, counter-terrorism financing, and counter-proliferation.