Philippines

Market Infrastructure

Philippine SEC Approves Plans to Introduce Short Selling – Report

By Sanday Chongo Kabange | 06/06/2023

The SEC and PSE are reported to now be working out how to implement short selling this year, to boost domestic market liquidity.

AML / KYC

FIs Must ‘Strictly’ Perform CDD on DNFBP Clients, BSP Says

By Sanday Chongo Kabange | 04/06/2023

CDD includes identifying and verifying the true identities and beneficial owners of DNFBP clients such as lawyers, accountants and real estate developers.

Big Picture

BSP Addresses GCash Service Disruption, Unauthorised Transactions

By Editors | 19/05/2023

Phishing attacks where users shared their OTPs with scammers were the root cause behind unauthorised transactions at GCash.

ESG / Sustainability

Philippine SEC Adopts ASEAN SRF Standards

By Sanday Chongo Kabange | 14/05/2023

Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

AML / KYC

Philippine AMLC Issues New Sanctions Screening Guidance

By Editors | 13/05/2023

An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.

Market Infrastructure

Philippine SEC Issues Guidelines on Financial Instrument Identifiers

By Editors | 09/05/2023

The SEC issued guidelines on the allocation of ISIN, CFI and FISN codes to financial instruments in the Philippines.

Enforcement

Philippine SEC to Raise Penalties for Late Filing of Reports

By Sanday Chongo Kabange | 03/05/2023

In addition to higher monetary fines, the SEC may label a company ‘delinquent’ or revoke its registration in case of repeated failures.

Capital / Liquidity

BSP Launches Credit Risk Scoring Model for MSMEs

By Editors | 02/05/2023

The CRD Scoring Model will help lenders analyse the creditworthiness of MSMEs, including those without credit histories or adequate collateral.

Enforcement

Philippine SEC Issues Implementing Rules for Consumer Protection Act

By Sanday Chongo Kabange | 01/05/2023

The implementing rules set out the enforcement actions the SEC may take as well as measures to protect financial consumers.