We have listed below the bulletins that we have prepared to update SyCipLaw clients of COVID-19 related issuances and advisories from various Philippine government agencies.
Atty. ChatGPT: Can AI Replace Local Counsel?
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 of the Suffolk University Law School encouraged law students to learn how to use ChatGPT…
TMT and Data: Areas of Interest
Liquidation of Tower Assets With the recent changes to the telecommunications framework, including the amendment to the PSA and the issuance of DICT Department Circular No. 01-2022, interest in cellular tower assets in the Philippines from domestic and international tower companies has significantly grown. In 2022, major PTEs, such as Globe Telecom, Inc. and Smart…
Congress Eyes Implementation of Internet Transactions Act & Open Access inData Transmission Act
Internet Transactions Act Senate Bill No. 1846 entitled “An Act Protecting Consumers and Merchants Engaged in Internet Transactions, Creating for this Purpose the Electronic Commerce Bureau, Appropriating Funds therefor, and for other Purposes” (Internet Transactions Act of 2022) is currently pending in the Senate. The bill aims to promote and maintain a robust e-commerce environment…
Into the Digital: BSP Imposes Additional Regulations on Digital Banks
On September 14, 2022, the BSP issued Memorandum Circular No. 1154, Series of 2022 entitled “Prudential Requirements Applicable to Digital Banks, and Amendments to Relevant Provisions of the Manual of Regulations for Banks and Non-Bank Financial Institutions and Manual of Regulations on Foreign Exchange Transactions” (Digital Banking Memorandum). The Digital Banking Memorandum is the second…
Come Play in the Sandbox: BSP Invites Innovations Through Regulatory Sandbox Framework
On September 5, 2022, the BSP issued BSP Circular No. 1153, series of 2022, entitled “Regulatory Sandbox Framework” (Sandbox Circular) which institutionalizes the Test & Learn (T&L) approach that the BSP has been implementing for BSFIs, third-party service providers of BSFIs, and new players seeking to offer financial products and services using new technology and…
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