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AML / KYC
Philippine SEC Rates Securities Sector for Money Laundering
By Sanday Chongo Kabange | 12/05/2021
The SEC found that investment houses and underwriters presented ‘medium-high’ risk, compared to ‘medium’ risk for the securities sector overall.
Securities / Derivatives
Philippine SEC Joins ASEAN Framework for Cross-border Funds
By Editors | 12/05/2021
Regulators from Singapore, Malaysia and Thailand – already part of the initiative – have signed a supplemental MoU admitting the Philippine SEC into the CIS framework.
Fintech / Regtech
BSP Expects New Digital Banks to Launch in H2 2021
By Ranamita Chakraborty | 05/05/2021
The BSP has received four applications for digital bank licences, including two from thrift banks that wish to convert their existing licences.
Capital / Liquidity
BSP Extends Regulatory Relief for Banks Pending ‘FIST’ Rescue
By Ranamita Chakraborty | 05/05/2021
The BSP has extended the higher single borrower limit and relief on loan classification, pending full operationalisation of the FIST Act.
Crypto / Digital Assets
Blockchain Groups Form New ASEAN Consortium to Drive Adoption
By Editors | 27/04/2021
Members include blockchain associations in Singapore, Indonesia, the Philippines, Malaysia, Thailand and Australia.
Capital / Liquidity
BSP Asks D-SIBs to Submit Recovery Plans Separate from ICAAP
By Editors | 27/04/2021
Separate submission will allow the BSP to better assess recovery plans on an institutional level and across D-SIBs, particularly during times of crisis.
Fintech / Regtech
BSP May Raise Cap on Digital Banking Licences
By Ranamita Chakraborty | 25/04/2021
Under the digital banking framework approved by the BSP in November, the number of digital bank licences is capped at five.
AML / KYC
BSP Renews Push for Changes to Bank Secrecy Law
By Editors | 23/04/2021
BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.
Philippines to Grant BSP Authority Over Insurance Commission
By Editors | 23/04/2021
Under a proposed bill, the supervision of the Insurance Commission will move from the Department of Finance to the BSP.
AML / KYC
BaFin Files Criminal Complaint Against Deutsche Bank Exec
By Manesh Samtani | 23/04/2021
Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.
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