Regulatory Alerts2025-10-23
Added · Updated
Circular No. 1222: Amendments to Regulations on Reporting Governance Framework for Money Service Businesses
Bangko Sentral ng Pilipinas issued Circular No. 1222 to amend the Manual of Regulations for Non-bank Financial Institutions, establishing a comprehensive reporting governance framework for Money Service Businesses. The regulation mandates strict reporting standards, defines specific monetary and non-monetary sanctions for non-compliance, and requires MSBs to maintain accurate financial records and submit audited financial statements within prescribed deadlines. These measures aim to enhance supervisory activities, ensure data integrity, and strengthen the country's Anti-Money Laundering and Combating the Financing of Terrorism regimes.
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