Regulatory Alerts2025-07-03
Cancellation of BSP Registrations of Prince Rockwell Money Changer Corporation, Kings Hopewell Group Corp., and World Reliance Trading Corp.
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2025-028 to formally announce the cancellation of BSP registrations for Prince Rockwell Money Changer Corporation, Kings Hopewell Group Corp., and World Reliance Trading Corp. The Monetary Board approved these cancellations due to serious and persistent violations of the Anti-Money Laundering Act and relevant regulations, following the final denial of the entities' requests for reconsideration. This directive serves as official notice to all BSP-supervised financial institutions regarding the revocation of these specific money changer and remittance agent licenses.
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