Philippines

Cryptocurrency

BSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox

By Editors | 23/03/2021

A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.

Structural Regulation

PSE Proposes Tighter Rules for Listings via Reverse Takeover

By Editors | 17/03/2021

Companies will be required to conduct a public offering of at least 10 percent of their shares within one year from closing a transaction that results in a backdoor listing.

Trading & Investment

PSE Proposes Alternative Listing Option for Businesses

By Sanday Chongo Kabange | 17/03/2021

The new rule will allow businesses to raise funds on the exchange by listing their preferred shares without listing their common shares.

Payments & Settlements

Philippine SEC Launches New Online Payments System

By Editors | 13/03/2021

The ‘SEC Payment Portal’ allows for the payment of registration fees, penalties and other fees using  other cashless payment options.

Conduct, Culture & Accountability

BSP Advocates Passage of New Consumer Protection Law

By Ranamita Chakraborty | 09/03/2021

The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.

Climate Risk

PwC Offers ESG Risk Management Recommendations for Banks

By Manesh Samtani | 09/03/2021

Banks need to adopt training and change management programmes to ensure employees embrace ESG risk management as a requirement and discipline.

Credit Risk

BSP Issues Draft Guidelines on New ‘Bad Bank’ Law

By Ranamita Chakraborty | 09/03/2021

Banks can stagger the booking of losses from the discounted sale of NPAs to FIST corporations over five years, provided proper disclosures are made.

Operational Risk

BSP Relaxes Reporting Requirements for Financial Institutions

By Editors | 07/03/2021

The BSP is reducing reporting requirements related to the borrowings of directors, officers, stockholders and their related interests.

Emerging Prudential Risks

BSP Issues Guidance on Reporting of LIBOR Exposures

By Manesh Samtani | 05/03/2021

Banks are required to report on all derivatives, as well as assets and liabilities that are interest-bearing, even where there is no LIBOR or PHIREF exposure.