Regulatory Alerts2026-06-16
Circular No. 1237: Regulations on the Operation of Digital Financial Marketplace and Presentation of Financial Products and Services in Digital Platforms
The Bangko Sentral ng Pilipinas issued Circular No. 1237 to establish a regulatory framework for supervised financial institutions to operate digital financial marketplaces and present products on digital platforms. The guidelines define eligibility criteria, requiring operators to maintain specific capitalization and robust risk management systems while ensuring neutrality in product presentation and strict consumer protection standards. It mandates governance structures for marketplace operators to oversee accredited third-party providers and outlines notification or approval processes for financial institutions based on their supervisory ratings.
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