Non-bank gov't bodies ordered to formulate investment frameworks
President Rodrigo Duterte has signed an administrative order (AO) that directs all non-bank government entities to formulate investment governance
Source: visayandailystar.com
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Non-bank gov't bodies ordered to formulate investment frameworks
MANILA - President Rodrigo R. Duterte has signed an administrative order (AO) that directs all non-bank government entities to formulate investment governance frameworks for foreign exchange (FX) derivatives transactions. AO 28, signed by Duterte on May 24, was released on Thursday. "There is a need to institute sufficient monitoring safeguards and risk management mechanisms in FX derivatives transactions to protect the National Government's fiscal and economic interests in non-bank government entities," the AO read. Under the AO, the regulation of FX derivatives transactions of ...
Source: philippinetimes.com