ADVERTISEMENT
Operational Risk
BSP Issues Revised Outsourcing Rules for Banks
By Editors | 27/02/2022
Banks need BSP approval to enter into material outsourcing arrangements. They must also conduct periodic assessments to ensure outsourcing risks are properly managed.
Sustainable Finance
BSP Calls on Banks to Adhere to Sustainable Finance Roadmap
By Mark Johnston | 22/02/2022
Lending to activities that are considered sustainable and environment-friendly will qualify FIs for incentives, such as preferential rediscount rates.
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.
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.
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
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.