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.
Page Classification: GENERAL
OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2025-___ To : All Banks and BSP-Supervised Non-Bank Financial Institutions
Subject : Cessation of Operations of UBS AG Philippine Representative Office The Monetary Board, in its Resolution No. 1468 dated 19 December 2024, noted the cessation of operations of UBS AG Philippine Representative Office. For information and guidance.
CHUCHI G. FONACIER Deputy Governor 08 January 2025