All Bayanihan II funds released, line agencies given until mid-July to report use — Palace

ALL FUNDS under the country’s second stimulus law, known as the Bayanihan II that expired on June 30, were released to line agencies, according to the presidential palace. Presidential Spokesperson Herminio “Harry” L. Roque, Jr. on Tuesday said the agencies were given until mid-July to submit their utilization reports to the Budget department. “First of […]

SEC signs on to framework enabling cross-border retail sales of funds

THE Securities and Exchange Commission (SEC Philippines) said Tuesday that it joined the ASEAN Collective Investment Schemes (CIS) Framework, which will allow institutions to offer investment funds to retail investors in other jurisdictions. The accession to the framework was effected via a supplemental memorandum of understanding with its counterparts in Thailand (SEC Thailand), Securities Commission […]

‘Dirty money’ risk deemed moderate for PHL banks — BSP

FINANCIAL INSTITUTIONS in the Philippines have a “medium” risk of exposure to activity related to money-laundering and terrorist financing, according to a risk assessment conducted by the Bangko Sentral ng Pilipinas (BSP). “The wide array of financial products and services, size of transactions, as well as the growing physical and digital network or delivery channels […]

China’s private capital funds must invest to meet investors’ increasing demands for transparency, Intertrust Group says

HONG KONG, Feb 22, 2021 – (ACN Newswire) – Private capital funds in China face growing demands for transparency as mainstream investors increasingly turn to the sector to chase the higher returns it offers, new research* from Intertrust N.V. (“Intertrust Group” or “Company”) [Euronext: INTER] reveals. Intertrust Group, a world leader in providing specialised administration […]