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BSP logs 40K complaints relating to financial consumer protection; only 5% come from Mindanao

SINCE the effectivity of the Financial Consumer Protection Act (Republic Act 11765) in June 2022, the Bangko Sentral ng Pilipinas (BSP) has logged more than 40,000 complaints from customers of different BSP-supervised financial institutions from all over the Philippines. Of this number, only around 5 percent come from Mindanao, implying the Mindanaoans' unawareness of the law. ....

Davao City , Rochelled Tomas , Bangko Sentral , Regional Office , Market Conduct Office , Financial Consumer Protection Act , Republic Act , Media Information Session , Mindanao Regional Office , Quirino Avenue , Consumer Assistance Mechanism , Financial Consumer Protection ,

HK-tied ELS sellers may face full compensation claims for losses

With losses from equity-linked securities tied to a Hong Kong index expected to reach almost 6 trillion won ($4.57 billion) this year, South Korean financial regulators announced Monday that sellers may face full compensation for the loss. The announcement follows the Financial Supervisory Service's inspection of local banks and brokerages that sold large amounts of ELS products tied to the troubled Hang Seng Ch. ....

Hong Kong , South Korea , South Korean , Lee Bok Hyun , Hang Seng China Enterprises Index , Financial Supervisory Service , Hang Seng China Enterprises , Financial Consumer Protection Act ,

BSP to strengthen consumer protection

BSP to strengthen consumer protection
philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.

Elmore Capule , Bangko Sentral , Consumer Complaints Resolution Office , Bank Secrecy Law , Legal Services , Development Advisory Council , Charina De Vera Yap , Anti Financial Account Scamming Act , Republic Act , Financial Consumer Protection Act , Complaints Resolution Office , General Counsel ,

Digital scammers running amok

Digital scammers running amok
tribune.net.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.net.ph Daily Mail and Mail on Sunday newspapers.

Metro Manila , Philippines General , Bangko Sentral , Cybercrime Group , Crime Commission , Department Of Justice , Presidential Anti Organized Crime , Asia Scam Report , Financial Consumer Protection Act , Daily Tribune ,

Korean banks at risk of W3tr in losses in HK-tied ELS sales

Concerns are looming large over the loss of principles in equity-linked securities products underlying Hong Kong’s slumping benchmark index with over 8 trillion won ($6.1 billion) in ELS products sold by Korean banks set to mature in the first half of next year. The size of ELS products tracking the Hang Seng China Enterprises Index maturing next year and sold by Korea’s five major banks exceeds 13 trilli. ....

South Korea , Hong Kong , Hang Seng China Enterprises Index , Korea Financial Supervisory Service , Nonghyup Bank , Hana Bank , Woori Bank , Shinhan Bank , Kb Kookmin Bank , Kookmin Bank , Financial Supervisory , Mirae Asset Securities , Financial Consumer Protection Act , Clime Asset Management , The Korea Herald , Orean News , Outh Korea News , Outh Korea News In English , Sia News , K Pop , 코리아 헤럴드 ,