Philippine Central Bank Issues Amendments to the Regulations on Unit Investment Trust Funds
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 entering the Philippine financial markets. The Philippine Central Bank is committed to ensuring all market participants, especially the newbie investors, are protected from any scams which can dampen the confidence of the participants in these forms of investments.
The full list of amendments to the MORB and MORNBFI can be found here.