Category: Uncategorized

Amendments to the Anti-Money Laundering Act: Legal and Practical Considerations

—Reginald Anton J. Puno, Partner—Mitchel Q. Tuazon, Associate On 30 January 2021, Republic Act (“RA”) No. 11521, which further amended RA No. 9160 or the Anti-Money Laundering Act of the Philippines (“AMLA”), took effect. These amendments to the AMLA were essentially a response to calls from the international watchdog, Financial Action Task Force (“FATF”), to

Executing Transactions Across Borders: Apostille Guidelines in the Philippines

—Paolo E. Abarquez, Partner—Ariane P. Ong, Associate —Joaquin Jerome A. Paras, Underbar Associate With the Philippine economy projected to recover and grow in 2021,[1] economists further anticipate an increase in business investments and activities in the country by Q3. In particular, the projected rebound in 2021 and 2022 are primarily driven by a renewed infrastructure

Unconventional Ventures: Fintech and Open Banking

—Reginald Anton J. Puno, Partner—Ariane P. Ong, Associate With great challenges always come promising opportunities. How will the Philippines react to another wave of innovation in the financial technologies space and the industries surrounding it in 2021 and the immediately succeeding years? Fintech in the Philippines Innovations in the realm of Financial Technology (“Fintech”) started

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