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Anti-Money Laundering
Philippine AMLC Asks FIs to Guard Against Digital Vote-Buying
By Editors | 21/02/2022
The advisory comes in anticipation of an influx of financial activities that usually occur during elections. The Philippines has a general election on 8 May.
Structural Regulation
Philippine SEC Proposes Draft Rules For Umbrella Funds
By Sanday Chongo Kabange | 21/02/2022
Investment companies will be allowed to operate umbrella funds as long as they create at least two sub-funds, which segregated assets and liabilities.
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
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