Philippines

Securities / Derivatives

Philippine SEC Authorises Country’s First Corporate Debt Vehicle

By Editors | 17/10/2022

The fund will exclusively invest in debt securities such as bonds, notes, commercial paper, debentures, and other evidence of indebtedness.

BSP Directs FIs to Bolster Email Security, Cyber Awareness

By Editors | 15/10/2022

Financial institutions are directed to adopt “robust and layered” security controls and industry best practices to reinforce email security.

Philippines Set to Adopt Standardised Forms for Loan Applications

By Editors | 10/10/2022

Lenders will be required to use standard loan application forms, which will make credit more accessible to small businesses.

ESG / Sustainability

BSP Issues Guidance for Banks on E&S Risk Management

By Manesh Samtani | 04/10/2022

Banks must develop ESRM systems that assess environmental and social risks arising from their operations, products, services, transactions, activities, and operating environment.

AML / KYC

AMLC Philippines Issues Draft Rules for Anti-Human Trafficking Law

By Editors | 25/09/2022

Financial intermediaries will be required to monitor for and report financial activity and transactions suspected to be related to human trafficking.

Fintech / Regtech

BSP Tightens Prudential Requirements for Digital Banks

By Editors | 21/09/2022

Digital banks must meet the same Basel III capital, liquidity and leverage requirements applicable to universal and commercial banks.

Crypto / Digital Assets

Binance Set to Secure Crypto Licence for the Philippines

By Editors | 21/09/2022

Binance is in late stage talks to buy a Philippine company that already has VASP and electronic money issuer licences.

Securities / Derivatives

BSP Amends Rules for Unit Investment Trust Funds

By Editors | 17/09/2022

Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.

Fintech / Regtech

BSP Approves Introduction of Regulatory Sandbox Framework

By Editors | 13/09/2022

The regulatory sandbox framework will enable the BSP to balance the perceived benefits of emerging technologies against the need to manage their risks.