Bangko Sentral ng Pilipinas (BSP) has directed pawnshops to strictly implement identification requirements for customers to help ensure that items being pawned are not stolen goods or illicit covers for money laundering.
A former stockbroker who had defrauded clients was convicted for seven violations of securities laws, the first criminal conviction under the Securities Regulation Code.
Several European and American airlines are expected to return to the Philippines after the government’s removal of “discriminatory” taxes on foreign carriers, the country’s leading tourism industry group said.
With the advent of globalization and the continually increasing integration of economies, domestic legal systems have become more complex. Laws are no longer just intended to promote and maintain order in society. They now serve as catalyst, directly or indirectly, of economic growth.
The country’s mining industry remains in limbo as businessmen and potential investors await the new mining law to be passed by Congress, according to the Chamber of Mines of the Philippines.
The clock is ticking on the deadline set by the Financial Action Task Force on Money Laundering for the Philippine government to further amend the Anti-Money Laundering Act and plug perceived loopholes in the law.
Businessman Roberto Ongpin has urged lawmakers to consider amending the current law against money laundering, saying that the law, in its current form, can easily be abused for political ends.
Among the basic needs of the poor living in urban areas, the one that makes the biggest contribution to enhancing their human dignity is decent housing. If we consider that food, shelter, clothing and education are among the most basic of their needs, it is shelter that is the most visible manifestation of the dignity of a human being. The poor can survive on rice, fish and vegetables and maintain their dignity vis-a-vis the well-to-do.
Only the earmarking of the revenues from the sin tax bill is left to be discussed in the bicameral conference after its members concluded deliberations on tax rates Thursday night.
By this time of the month, most businesses have come up with the names of the people they will send gifts to for various reasons.
The Securities and Exchange Commission is now in the midst of public consultations on a proposed circular that will determine the allowable level of foreign ownership of companies engaged in nationalized activities.
An expert on the Constitution has expressed fear over the government’s reluctance to act quickly on the increasing number of ordinances being issued by local government units (LGUs) that violate national laws and the Constitution.
