Regulatory Alerts2025-01-08
CL-2025-002: Cessation of Operations of UBS AG Philippine Representative Office
The Bangko Sentral ng Pilipinas issued Circular Letter No. CL-2025-002 to inform all banks and BSP-supervised non-bank financial institutions about the cessation of operations of the UBS AG Philippine Representative Office. This notice follows the Monetary Board's Resolution No. 1468 dated 19 December 2024, which officially noted the closure. The circular serves as a formal directive for information and guidance purposes regarding this regulatory update.
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