The Regional Trial Court of Mandaluyong City has convicted the owner and operator of Zhenrihada Money Changing Services for violating central bank regulations.
Ayala-led Bank of the Philippine Islands (BPI) saved almost P105 million in penalties as the Securities and Exchange Commission (SEC) lowered its fine for its failure to secure regulatory confirmation for its stock purchase and option plan.
Electronic money issuers (EMIs) are now required to comply with minimum capital and liquidity requirements amid the rising incidence of information technology-related risks and to better protect the interests of account holders, according to the Bangko Sentral ng Pilipinas (BSP).
State-run Land Bank of the Philippines and Pryce Corp. have inked a P1.6-billion loan agreement to fund the expansion of the firm’s operations in real estate development and liquefied petroleum gas (LPG) distribution.