Philippines

PH · PHL · Asia-Pacific

6 regulators · 12 laws & regulations · 3 obligations

Obligation	Timing	Regulator	Arises from	Source
All industries
Lawful basis for processing, privacy notice and data subject rights	Ongoing	NPC	Republic Act No. 10173, Data Privacy Act of 2012	official
Section 12 permits processing of personal information only if not otherwise prohibited by law and at least one listed condition applies, such as consent, contract, legal obligation or legitimate interests. Section 16 gives data subjects rights to be informed, to access, to dispute inaccuracies, to suspend, withdraw, block or order removal of data, and to be indemnified for damages.
Banking
Environmental and social risk management by banks	Ongoing	BSP	BSP Circular No. 1128, Series of 2021 — Environmental and Social Risk Management Framework	official
Banks must maintain an Environmental and Social Risk Management System, have the board and senior management set environmental and social strategic objectives, and consider these risks in defining credit risk appetite and in operational risk management.
Payments & Fintech
Registration and authority for payment system operators	Deadline Before operating; registration within the period set by the Monetary Board	BSP	Republic Act No. 11127, The National Payment Systems Act	source
Section 6(b) requires operators of a designated payment system to obtain BSP authority before operating, and section 10 requires operators to register with the BSP within the period the Monetary Board sets. Section 11 requires designated operators to be stock corporations.
No obligations match these filters.