Philippines

Fintech / Regtech

Philippine SEC Approves First Crowdfunding Platform

By Editors | 14/01/2021

Investree Philippines is the first crowdfunding intermediary and funding portal to register with the SEC since rules covering the activity took effect in July 2019.

Market Infrastructure

BSP Deploys New Supervisory Assessment Framework

By Editors | 12/01/2021

SAFr aims to facilitate forward-looking assessments of financial institutions and link their systemic importance and risk profile to the level of supervisory attention they receive.

Market Infrastructure

BSP Consults on Draft Policies to Strengthen Payment Systems

By Editors | 03/01/2021

The first draft policy covers governance policies for payment system operators. The second covers the local adoption of the PFMI for designated payment systems.

BSP Grants Foreign Banks Relief from Single Borrower’s Limit

By Editors | 02/01/2021

The measure is expected to help boost lending, bolster economic growth and diversify credit exposures, said BSP governor Benjamin Diokno.

Philippines: BSP to Standardise MSME Loan Applications

By Editors | 24/12/2020

A standard business loan application form will simplify and improve the application process, while also facilitating banks’ risk assessments and speeding up turnaround time.

Market Infrastructure

Philippine SEC to Mandate New Cybersecurity Rules for Capital Markets

By Editors | 20/12/2020

Regulated entities will have to create a separate Information Security Group and appoint a Chief Information Security Officer.

AML / KYC

ANNA Announces Expansion of ISIN-to-LEI Mapping Initiative

By Editors | 16/12/2020

The linking of ISINs and LEIs effectively links issuers to the issuance of securities, thereby improving transparency and aiding risk and exposure management.

Fintech / Regtech

Philippines: UnionBank, StanChart Complete Bond Tokenisation POC

By Editors | 10/12/2020

A dual tranche issuance totalling PHP 9 billion was mirrored on a bond tokenisation platform co-created by UnionBank and SC Ventures.

AML / KYC

Philippine SEC Proposes Stronger Rules on Beneficial Ownership

By Editors | 08/12/2020

The SEC is seeking to require the disclosure of beneficial owners, nominators, principals, and nominee arrangements within 10 days from a company’s registration.