BSP Pushes Consumer Protection
Central bank-supervised financial institutions have been ordered to pay more attention to client suitability, with authorities issuing new rules aimed at strengthening consumer protection and industry safeguards.
The Bangko Sentral ng Pilipinas (BSP) said its policy-making Monetary Board has endorsed the issuance of regulations governing the sales and marketing of financial products, adding that covered institutions have three months to comply.
Source: The Manila Times