The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
September 6, 2022Complainants can elect for mediation or adjudication only if the complaint cannot be resolved by the FI itself or the BSP's Consumer Assistance Mechanism.
August 19, 2022The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.
February 4, 2022The BOT has instructed banks to control the quality of their insurance sale practices, saying it is ready to implement "more intense" regulatory measures.
November 23, 2021Under a proposed bill, the supervision of the Insurance Commission will move from the Department of Finance to the BSP.
April 23, 2021The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.
March 10, 2021Domestic insurers that provide catastrophe risk coverage currently reinsure their risks overseas. The new facility will enable insurers to pool risk and resources domestically.
March 1, 2021GAIP will incubate new risk financing solutions for emerging risks in Asia and serve as a policy think tank, initially focusing on pandemic risk and climate risk.
November 5, 2020State-run financial institutions, pension funds, insurance firms and other government agencies are instructed to establish shared cyber defence strategies.
October 8, 2020The move is aimed at helping the insurance industry to broaden their investment options, diversify their portfolios, and more actively participate in capital market development.
September 24, 2019