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Duterte OKs law protecting financial consumers

Financial consumers will now have more protection against cybercrime under a new law signed by President Rodrigo R. Duterte. Republic Act (RA) No. 11765 ....

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Duterte OKs law protecting financial consumers

MANILA - Financial consumers will now have more protection against cybercrime under a new law signed by President Rodrigo R. Duterte. Republic Act (RA) No. 11765 or the "Financial Products and Services Consumer Protection Act", signed by Duterte on May 6, recognizes that the state must implement measures to protect consumers rights' such as right to equitable and fair treatment; right to disclosure and transparency of financial products and services; right to protection of consumer assets against fraud and misuse; right to data privacy and protection; and right to timely handling and redress of complaints. "It is the policy of the state to ensure that appropriate mechanisms are in place to protect the interest of consumers of financial products and services under the conditions of transparency, fair, and sound market conduct, and fair, reasonable, and effective handling of financial consumer disputes, which are aligned with global best practices," the law read. ....

Bangko Sentral , Rodrigor Duterte , Exchange Commission , Services Consumer Protection , Insurance Commission , Development Authority , Senate As Bill No , President Rodrigo , Senate Bill , House Bill , Cooperative Development Authority , Manila Financial Consumers Will Now Have More Protection Against Cybercrime Undera New Law Signed By President Rodrigor Duterte Republic Act Ra No 11765 Or The Quot Products And Services Consumer , Igned By Duterte On May 6 , Ecognizes That The State Must Implement Measures To Protect Consumers Rights 39 Such As Right Equitable And Fair Treatment Disclosure Transparency Of Financial Products Services Protection Consumer Assets Against Fraud Misuse Data Privacy Timely Handling Redress Complaints Quot It Is Policy Ensure Appropriate Mechanisms Are In Place Interest Under Conditions , Nd Sound Market Conduct , Bend Fair , Nd Effective Handling Of Financial Consumer Disputes , Hich Are Aligned With Global Best Practices , Uot The Law Read These Mechanisms Reinforce Their Confidence In Financial Market And Foster Stability Of Philippine System Ra 11765 Gives Regulators Authority To Formulate Own Standards Rules Business Conduct For Entities Quot May Also Determine Reasonableness Interest , Harges Or Fees Whicha Financial Service Provider May Demand , R Receive For Any Service Or Product Offered Toa Financial Consumer Likewise , Hey May Issue Their Respective Rules Of Procedure Concerning Administrative Actions Arising From The Implementation This Act , Uot The New Law Read Also Gives Financial Regulators Authority To Impose Enforcement Actions On Their Respective Supervised Service Providers For Noncompliance With This Act And Other Existing Laws Pertinent Jurisdiction Of They Will Have Adjudicate Reimbursement Lost Funds Withina Certain Threshold Ra 11765 States That Must Prepare Necessary Rules Regulations Implement Provisions Within One Year From Its Effectivity It Was Passed By Senate As Bill No 2488 Feb 2 , 022 And Adopted By The House Of Representatives As An Amendment To Bill No 6768 On Feb 2 , 022 Financial Consumers Refer To Persons Or Entities , R Their Duly Appointed Representatives ,

Duterte OKs compensation for victims of Marawi siege

(File photo) MANILA - President Rodrigo Roa Duterte has signed a law that aims to provide monetary aid to victims of the 2017 Marawi siege. Republic Act No. (RA) 11696, signed by Duterte on April 13 and was released to reporters on Wednesday, provides for the creation of the Marawi Compensation Board (MCB) headed by a chairperson and eight members. At least three members of the board must be members of the Philippine Bar, preferably Maranao lawyers, who have been engaged in the practice of law for at least five years; two representatives must be members of civil society organizations where at least one of whom is either a Sharia lawyer or a Muslim traditional leader; other members must be licensed physician; certified public accountant; educator; and licensed civil engineer. Under the law, the MCB will facilitate the tax-free payment of reparations to "qualified claimants" who lost residential and commercial properties due to the Marawi siege. "Any person who is a lawful ....

Marawi City , Rodrigo Roa Duterte , Task Force Bangon Marawi , Bangsamoro Human Rights Commission , National Economic , Department Of Budget , Development Authority , Senate As Bill No , Marawi Compensation Board , Philippine Bar , Marawi Siege , Senate Bill , House Bill , Islamic State , Ile Photo Manila President Rodrigo Roa Duterte Has Signeda Law That Aims To Provide Monetary Aid Victims Of The 2017 Marawi Siege Republic Act No Ra 11696 , Igned By Duterte On April 13 And Was Released To Reporters Wednesday , Rovides For The Creation Of Marawi Compensation Board Mcb Headed Bya Chairperson And Eight Members At Least Three Must Be Philippine Bar , Referably Maranao Lawyers , Ho Have Been Engaged In The Practice Of Law For At Least Five Years Two Representatives Must Be Members Civil Society Organizations Where One Whom Is Eithera Sharia Lawyer Ora Muslim Traditional Leader Other Licensed Physician Certified Public Accountant Educator And Engineer Under , He Mcb Will Facilitate The Tax Free Payment Of Reparations To Quot Qualified Claimants Who Lost Residential And Commercial Properties Due Marawi Siege Any Person Isa Lawful Owner Ofa , Commercial Structures , Nd Other Properties As Stated In The Definition Of Terms Located Main Affected Areas Or , Nd Was Destroyed Or Damaged Either Totally Partially On The Occasion Of Marawi Siege And Heirs Those Who Died Legally Presumed Dead May Filea Claim With Board For Compensation Quot Law Read Ra 11696 Also Grants Private Property Ownersa Based Sum Current Market Value Land Replacement Cost Structures Improvements Shall Determine Monetary Award To Lawful Owners , Hichever Is The Lower Amount Of Either Fair Market Value Residential , R Other Real Properties Or The Value Of Its Total Area Per Story Equivalent To An Amount Be Determined In Implementing Rules And Regulations This Act , Uot The Law Read Added ,

Duterte OKs compensation for victims of Marawi siege

(File photo) MANILA - President Rodrigo Roa Duterte has signed a law that aims to provide monetary aid to victims of the 2017 Marawi siege. Republic Act No. (RA) 11696, signed by Duterte on April 13 and was released to reporters on Wednesday, provides for the creation of the Marawi Compensation Board (MCB) headed by a chairperson and eight members. At least three members of the board must be members of the Philippine Bar, preferably Maranao lawyers, who have been engaged in the practice of law for at least five years; two representatives must be members of civil society organizations where at least one of whom is either a Sharia lawyer or a Muslim traditional leader; other members must be licensed physician; certified public accountant; educator; and licensed civil engineer. Under the law, the MCB will facilitate the tax-free payment of reparations to "qualified claimants" who lost residential and commercial properties due to the Marawi siege. "Any person who is a lawful ....

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PRRD inks Egg Basket law, declares Catanduanes as abaca capital

President Rodrigo Roa Duterte (File photo) MANILA - President Rodrigo R. Duterte has signed two laws that recognize the significance of the abaca industry and egg industry in the Philippines. Duterte signed Republic Act No. (RA) 1170 declaring the province of Catanduanes as the Abaca Capital of the Philippines on April 15. Under the law, the state recognizes the importance of the abaca industry and its development as a driver of rural development not only because of its singular potential as a raw material that can increase the country's export earnings tremendously and put the name of the country in the map of the world for producing the biggest volume of abaca fiber but for having provided livelihood to many small farmers in the countryside. "In recognition of its status as the country's biggest producer of abaca and making the Philippines world-renowned as "Manila Hemp" in the fiber industry, and in support to the agricultural development of the province, it i ....

Camarines Sur , Batangas City , Rodrigor Duterte , United Nations , Senate As Bill No , Republic Act , Abaca Capital , Senate Bill , House Bill , San Jose , Egg Basket , President Rodrigo Roa Duterte File Photo Manila Rodrigor Has Signed Two Laws That Recognize The Significance Of Abaca Industry And Egg In Philippines Republic Act No Ra 1170 Declaring Province Catanduanes As Capital On April 15 Under Law , He State Recognizes The Importance Of Abaca Industry And Its Development Asa Driver Rural Not Only Because Singular Potential Raw Material That Can Increase Country 39s Export Earnings Tremendously Put Name In Map World For Producing Biggest Volume Fiber But Having Provided Livelihood To Many Small Farmers Countryside Quot Recognition Status As Producer Making Philippines Renowned Manila Hemp , Nd In Support To The Agricultural Development Of Province , T Is Hereby Declared That Catanduanes Be The Abaca Capital Of Philippines , Uot The Law Read Ra 1170 Was Passed By Senate As Bill No 1978 On Jan 31 , 022 And Adopted By The House Of Representatives As An Amendment To Bill No 6149 On Feb 2 , 022 The Philippines Has Long Been Known As Leading Producer Of Abaca , Onsidered One Of The Strongest Natural Fibers In World And Touted To Be Quot Future Fiber By United Nations Catanduanes Province Leads With Highest Abaca Production Country 31 72 Percent Contribution 39s 2020 33 74 2019 37 2018 Accounts For More Than 80 Bicol Region At Least 21 , 500 Hectares Of Land Dedicated To Abaca Planting Egg Basket The Philippines On April 17 , Uterte Also Signed Ra 11707 Declaring The Municipality Of San Jose In Province Batangas As Egg Basket Philippines Quot Is Hereby Declared 39 Recognition Economic Significance Its Industry At Both Local And National Levels , Uot The Law Read San Jose Isa First Class Municipality With Highest Egg Production Of At Least 70 , 000 Tons Of Eggsa Year In 2019 , He Municipality Contributed 12 Percent To The Country 39s Egg Basket Ra 11707 Was Passed By Senate As Sb 2044 On Jan 31 , 022 And Adopted By The House As An Amendment To Hb 7660 On Feb 2 , 022 Both Laws Were Released To Reporters On Tuesday Pna ,