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Conduct, Culture & Accountability
BSP Eases Confirmation Process for Bank Directors, Officers
By Editors | 20/02/2022
The amendments aim to limit the coverage of officers requiring confirmation for appointment and to streamline documentary requirements.
Sustainable Finance
Philippine SEC Consults on ASEAN Sustainable Fund Standards
By Editors | 14/02/2022
The SEC seeks views from investment firms and fund managers on their expectations for sustainable funds, including issuance trends, investment drivers, and regulatory requirements.
Structural Regulation
Philippine SEC Proposes Fee Cap Guidance for Lending Companies
By Sanday Chongo Kabange | 09/02/2022
The proposed guidance seeks to operationalise a BSP circular which was implemented earlier this year to curb predatory lending practices.
Fraud, Scams & Cybercrime
Philippines: DOJ, BAP to Collaborate on Combatting Cybercrime
By Ranamita Chakraborty | 07/02/2022
The DOJ and BAP will collaborate on stronger measures to combat online fraud, including to enhance enforcement and prosecution of cybercriminals.
Supervision & Enforcement
Philippines to Enhance Supervision of Financial Conglomerates
By Editors | 04/02/2022
The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.
Conduct, Culture & Accountability
Philippines Passes New Financial Consumer Protection Act
By Editors | 02/02/2022
The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.
Cloud & Infrastructure
BSP Launches Open Finance Roadmap, Financial Inclusion Strategy
By Editors | 02/02/2022
The open finance roadmap paves the way for greater collaboration and data sharing between FIs and fintechs, which will help boost financial inclusion.
Operational Risk
BSP Implementing “RING” Approach to Protect Financial System
By Editors | 27/01/2022
“RING” stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno
Credit Risk
Philippine SEC Reveals Establishment of Five ‘Bad Bank’ Entities
By Mark Johnston | 27/01/2022
Known as FISTCs, the five institutions are tasked with purchasing bad loans and NPAs from lenders accumulated during the pandemic.
Payments & Settlements
BSP Introduces Multiple Batch Settlement to PESONet
By Ranamita Chakraborty | 26/01/2022
The change increases PESONet’s daily batch settlement to two cycles, enabling better risk management for FIs and greater convenience for customers.
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