Philippines

Anti-Money Laundering

Philippines Expands AML Rules to Financing, Lending Firms

By Ranamita Chakraborty | 08/04/2021

All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.

Payments & Settlements

Thailand, Vietnam Launch Cross-Border QR Code Link

By Sanday Chongo Kabange | 03/04/2021

The retail payment link will facilitate cross-border transactions between Thailand and Vietnam using local currencies.

Alternative Markets

PSE Proposes to Exempt AIFs from Lock-up Rules

By Editors | 02/04/2021

Currently, alternative investment funds that acquired shares 180 days before an IPO are subject to a 365-day lock-up period.

Structural Regulation

BSP Encourages Greater Development of Islamic Banking

By Ranamita Chakraborty | 01/04/2021

The BSP is proactively approaching local and foreign lenders to ascertain whether they are interested in establishing Islamic banking units.

Resolution & Recovery

Philippine Senate Considers Bills to Enhance Deposit Insurance

By Ranamita Chakraborty | 28/03/2021

The Senate is considering a bill to double the maximum deposit insurance limit to PHP 1 million per depositor.

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.