Legal Updates

On 18 September 2025, the Bangko Sentral ng Pilipinas (BSP) issued Circular No. 1218-2025 (the “Circular”) amending certain provisions of the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). Specifically, Circular No. 1218-2025 provides restrictions on large value payouts, or transactions (such as withdrawals) of more than Five Hundred Thousand Pesos (Php500,000.00), and mandates the implementation … BSP Limits Over-the-Counter Cash Withdrawals Above ₱500,000.00 Read More »

On September 5, 2025, President Marcos Jr. signed Republic Act No. 12254, also known as the E-Governance Act, formalizing the Philippine government’s shift to digital governance. In order to improve the overall delivery of public services through information and communications technology (ICT), decrease bureaucratic delays, foster transparency, and safeguard data privacy, the measure aims to … The Digital Turn: How the E-Governance Act Transforms PH Government Read More »

Republic Act No. 11967, or the “Internet Transactions Act of 2023”, was enacted on 05 December 2023 to promote and strengthen e-commerce in the Philippines by building trust between online merchants and consumers. One of its key innovations is the creation of the E-Commerce Bureau, which was tasked to implement the E-Commerce Philippine Trustmark, a … What is the hype about TRUSTMARK and what it means for your online business? Read More »

In 2025, the Philippine Supreme Court reaffirmed the importance of respecting arbitration agreements while also clarifying the limits of CIAC’s jurisdiction. While the CIAC’s authority is statutory under Executive Order No. 1008, the Court emphasized that it remains confined to disputes arising from construction contracts, broadly construed but not beyond their intended scope. In Fleet Marine … SC Upholds Arbitration Framework: CIAC Jurisdiction Limited to True Construction Disputes Read More »

On 20 July 2024, the Anti-Financial Account Scamming Act (“AFASA”) was passed to promote awareness and to protect the public from cybercriminals and criminal syndicates who target Financial Accounts or lure Account Owners into becoming accessories or perpetrators of fraudulent activities. Some of the key provisions of the AFASA are Sections 12, 13, and 14 … Anti-Financial Account Scamming Act in Action: BSP Circular No. 1214 Puts Scammers on Notice and Banks on the Clock Read More »

Corporations have been a staple in growing economies owing to various reasons including limited liability and greater access to capital as compared to other business vehicles. With such a significant role in business and the economy, corporations are vested with the need to maintain accurate and organized internal records.  In the Philippines, every corporation is … By The Book: Supreme Court Rules That Mere Inclusion In The Corporate GIS Does Not Make One A Stockholder Read More »