BSP seeks scrutiny of trust entities

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The story "BSP seeks scrutiny of trust entities" was covered 1 weeks ago by Business Mirror, a news publisher based in Philippines.

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BSP seeks scrutiny of trust entities - Business Mirror

Quick Summary:

THE Bangko Sentral ng Pilipinas (BSP) has prescribed periodic administrative and investment account reviews for trust entities nationwide.

Trust entities are expected to make appropriate changes to their policies, processes, and procedures within one a I year from effectivity of this,” it added.

Based on BSP Circular 1204 (series of 2024), the Monetary Board approved the amendment to Appendix 86 of the Manual of Regulations for Banks (MORB) and Appendix Q-49 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFl).