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House passes measure granting employees pension portability

BusinessWorld
May 28, 2021 | 12:03 am
THE HOUSE of Representatives sitting in plenary approved a bill proposing to make pensions portable as workers change employers and to introduce investment options for pension account holders.
In plenary session late Wednesday, legislators approved House Bill 9343 or the proposed Capital Market Development Act. The measure was elevated by Committee on Banks and Financial Intermediaries Chairman and Quirino Rep. Junie E. Cua to the floor on May 17.
“House Bill 9343 is approved on second reading,” Valenzuela Rep. Weslie T. Gatchalian, sitting as deputy speaker, said.
The proposed law seeks to broaden the capital markets by addressing deficiencies in the current pension system. The bill hopes to make pensions “fully-funded, portable, more actuarially fair, and stable.” ....

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Nationwide round-up (04/05/21) | BusinessWorld

Ivermectin being sold online
CONGRESSMEN on Monday warned against the use of anti-parasitic drug Ivermectin against the coronavirus, asking the Trade department to monitor its sale on e-commerce sites.
“Please be on the lookout for abusive online sellers who are taking advantage of the current situation and even manipulating the price of Ivermectin,” Valenzuela Rep. Weslie T. Gatchalian said in a statement.
“This drug has not been approved by the Food and Drug Administration (FDA) for human use and may be highly harmful to the health of our consumers.”
Some congressmen endorsed the use of Ivermectin as a COVID-19 treatment last week. But the local FDA said the only ivermectin drug registered in the country is for use by animals. Use by humans could lead to possible side effects, it added. ....

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IPOPHL lauds consolidation of House bills to modernize IP Code, identifies 17 priority areas for amendment

TAGUIG CITY, Feb. 26 The Intellectual Property Office of the Philippines (IPOPHL) lauded efforts at the House of Representatives to consolidate the bills that will amend the Intellectual Property (IP) Code of 1998, taking the much-needed modernization of the IP law closer to fruition.
The consolidation will be undertaken by a Technical Working Group (TWG) created earlier this month by the House Committee on Trade and Industry. The bills being merged are House Bill (HB) 8062, authored by Representatives Christopher V.P. De Venecia and Sharon S. Garin; HB 1597, by Deputy Speaker Michael L. Romero; and HB 8620, by Deputy Speaker Weslie T. Gatchalian. ....

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