The Department of Labor and Employment (DOLE) issued Labor Advisory No. 17-22 allowing the private sector to suspend work in case of weather disturbances and similar occurrences, and providing for the appropriate payment of wages during the same.   According to Labor Secretary Bienvenido E. Laguesma, employers in the private sector may...

The Bangko Sentral ng Pilipinas (BSP) has formally institutionalized the Regulatory Sandbox Framework by amending the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Nori-Bank Financial Institutions (MORNBFl).   The Regulatory Sandbox Framework is a step towards the BSP’s goal of fostering an enabling environment for responsible innovation...

The Bangko Sentral ng Pilipinas (BSP) is amending certain portions of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) particularly those in relation to Unit Investment Trust Funds (UITFs).    The move comes in response to the growing number of new retail investors...

In a Circular dated September 6, 2021, the Commission on Audit set the guidelines in using electronic documents, electronic signatures, and digital signatures in government transactions. The guidelines were issued for the purpose of determining accountability and resolving doubts over the reliability of information used as audit evidence. Consequently, the...

The Department of Information and Communications Technology (DICT) launched the first ever barangay-based Digital Transformation Center (DTC) last August 20, 2022 in Mercedes, Zamboanga City.   The DTC Initiative was launched in September 2019 with the purpose of enhancing the digital capacities of citizens, particularly those from underserved areas. A DTC serves...

In a press release during the World Photography Day last August 19, 2022, the Intellectual Property of the Philippines (IPOPHL) answered several frequently asked questions regarding photography and copyright.One question answered is whether the photographer owns the copyright to the photos they take. According to IPOPHL, the general answer is...

The Department of Information and Communications Technology (DICT) issued Department Order No. IEU-018, designating the functional areas of responsibility of its assistant secretaries and undersecretaries; and Department Order No. IEU-019, designating the project director and project manager of the Free Wi-fi for All | Free Public Internet Access Program.   Under the...

The U.S. Securities and Exchange Commission (SEC) charged a total of 11 individuals who worked as Forsage Operators and raised $300 million from investors around the world, including the Philippines.      Forsage.io was launched in January 2020. Its website allowed investors to enter into transactions via smart contracts that operated on Ethereum,...

In a June 8, 2022 Order, the Securities and Exchange Commission (SEC) Corporate Governance and Finance Department (CGFD) found that Flying  Bear  Lending  continuously  violated  SEC  Memorandum Circular  No.  19,  series  of  2019  on  the  Disclosure  Requirements  on Advertisements  of  Financing  Companies  and  Lending  Companies  and  Reporting  of Online Lending...