Philippines

Securities / Derivatives

Philippine SEC Propose to Lower Stockbroker Commission Rates

By Editors | 24/01/2024

The minimum PHP 20 currently charged by stock brokers per transaction was set 50 years ago in 1973.

Market Infrastructure

BSP Offers Incentives for Early Use of New Standard Loan Form

By Sanday Chongo Kabange | 16/01/2024

Lenders that adopt the new loan application form ahead of mandatory adoption will receive a reduction in the annual supervisory fee for 2024 and 2025.

Fintech / Regtech

BSP Grants Direct PhilPaSSplus Access to First Nonbank EMI

By Sanday Chongo Kabange | 12/01/2024

OmniPay’s direct access to PhilPaSSplus allows it to make efficient and low-risk funds transfers using central bank rails.

Fintech / Regtech

BSP Proceeds With Soft Launch of New ITRS System

By Editors | 09/01/2024

The soft launch of the new International Transaction Reporting System commenced as planned on 8 January. Full implementation is deferred from April to June.

Securities / Derivatives

Philippine Regulators Pledge to Deepen Bond Market

By Sanday Chongo Kabange | 09/01/2024

The objective is to increase the diversity of corporate borrowers that issue bonds and to make risk pricing more active.

Capital / Liquidity

BSP Amends Cheque Clearing Policy, Reintroduces Funding Facility

By Sanday Chongo Kabange | 06/01/2024

The reforms are aimed at enhancing the efficiency and safety of the Philippine payments system.

Market Infrastructure

Philippine Bourse Outlines Plans to Boost Market Liquidity

By Sanday Chongo Kabange | 05/01/2024

The PSE plans to lower the minimum board lot size, allow algorithmic trading, and introduce depositary receipts.

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

By Sanday Chongo Kabange | 02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

AML / KYC

Philippines Tightens Travel Rule Requirements for Crypto

By Editors | 01/01/2024

VASPs are expected to obtain, verify, and hold originator and beneficiary information for transactions with unhosted wallets regardless of the amount involved.