The Department of Information and Communications Technology (DICT) has signed an Inter-Agency Memorandum of Understanding (MOU) with 13 national government agencies (NGAs) last 25 April 2023.   Pursuant to the MOU, the DICT will develop additional applications and digital systems while providing consultations and trainings to personnel of its partner agencies. With...

The Department of Information and Communications Technology (DICT) has opened the draft National Cybersecurity Plan (NCSP) 2023-2028 for inputs, comments, and suggestions by the public. The NCSP focuses on six (6) pillars: (1) enactment of the “Cybersecurity Act” to strengthen the policy framework; (2) secure and protect Critical Information Infrastructures...

The Securities and Exchange Commission (SEC) issued on April 25, 2023, SEC Memorandum Circular No. 7, Series of 2003 (GUIDELINES ON APPLICATION FOR THE ALLOCATION OF ISIN, CFI, AND FISN CODES FOR FINANCIAL INSTRUMENTS).   The SEC released the guidelines, in its capacity as the National Numbering Agency (NNA) of the Philippines,...

The Bangko Sentral ng Pilipinas (BSP) has disseminated the AMLC Guidance on Sanctions Screening – A 2022-2023 Thematic Review of the Effectiveness of Customer and Transaction Screening Systems of Covered Persons in Targeted Financial Sanctions (TFS) Implementation.   The Anti-Money Laundering Council (AMLC) recently conducted a comprehensive review of the customer and...

On April 14, 2023, the Insurance Commission released Circular Letters to guide stakeholders in the electronic submission of 2022 Annual Statements (AS), Audited Financial Statements (AFS), and attachments.    Circular Letter No. 2023-14, pursuant to Section 413 of Rep. Act No. 10607 or the Amended Insurance Code, instructs all Mutual Benefit Associations...

On April 5, 2023, the Credit Information Corporation released CIC Circular No. 01, s. of 2023, extending the deadline to submit corrected erroneous data backlogs to September 30, 2023.    The Letter Circular was issued in relation to Letter Circular 2022-13 re: DISTRIBUTION AND CORRECTION OF ERRONEOUS RECORDS BACKLOGS, to address the...