Author: syciplawcorpcomm

On June 9, 2023, the Monetary Board of the Bangko Sentral ng Pilipinas (“BSP”) issued Circular No. 1174, amending the implementing regulations of the mandatory agricultural, fisheries and rural development financing contemplated by the Agriculture, Fisheries and Rural Development Financing…

Read More BSP Amends Rules On Mandatory Development Financing

Background The Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 4, Series of 2023 (“Circular”) adopting the ASEAN Sustainable and Responsible Fund Standards (“ASEAN SRFS") and establishing rules to implement it in the Philippines. It took effect on 27…

Read More SEC Adopts ASEAN SRFs, Establishes Implementing Rules

I. Background and Scope The Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 3, Series of 2023 or the Guidelines on the Issuance of Sustainability-Linked Bonds Under the ASEAN Sustainability-Linked Bond Standards in the Philippines (“SLB Guidelines”), which contains…

Read More New Guidelines on Sustainability-Linked Bonds Issuance Now Available

The Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 11, Series of 2022 or the Rules on Sustainable and Responsible Investment Funds (the “Circular”), which took effect on January 3, 2023. The Circular laid out the rules governing Sustainable…

Read More A Boost to ESG Investing: SEC Introduces New Rules on Sustainable and Responsible Investment Funds

On 25 April 2023, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 5, series of 2023 (link here) and adopted the SEC Rules and Regulations of the Financial Products and Services Consumer Protection Act of 2022 (“SEC FCPA…

Read More SEC Issues Regulations to Implement Financial Consumer Protection Act

On 28 April 2023, the Bangko Sentral ng Pilipinas (“BSP”) issued Memorandum No. M-2022-039 and clarified the definition of infrastructure projects for public use as indicated in Section 363-A of the Manual of Regulations for Banks (“MORB”) on Limits on…

Read More BSP Clarifies Exclusions from Real Estate Loan Limit and Stress Test

On April 13, 2023, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 4, Series of 2023 (“MC 4-23”) to adopt the ASEAN Sustainable and Responsible Fund Standards (“ASEAN SRFS”) and establish rules on the qualifications of local investment…

Read More SEC Adopts the ASEAN Sustainable and Responsible Fund Standards and Establishes Rules on Recognition of Foreign Collective Investment Schemes

Advances in artificial intelligence (AI) have created new challenges as to how we deal with various issues, chief among them being job security for service industry participants, including legal professionals. In a statement made to news agencies, Dean Andrew Perlman…

Read More Atty. ChatGPT: Can AI Replace Local Counsel?