Publication:
Philippines : IOSCO Objectives and Principles of Securities Regulation

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-09-03T20:28:33Z
dc.date.available2013-09-03T20:28:33Z
dc.date.issued2002-07
dc.description.abstractA joint World Bank/International Monetary Fund mission visited the Republic of the Philippines during the period October 8-23 and November 19-December 6, 2001 as part of the Financial Sector Assessment Program (FSAP). The aim was to assess the effectiveness of securities regulation, soundness of market intermediaries, and development prospects for the capital markets, including observance of the International Organization of Securities Commissions (IOSCO) objectives and principles of securities regulation. The Securities and Exchange Commission (SEC) is the primary regulatory authority over the capital markets and their participants. The Bangko Sentral ng Pilipinas (BSP) also supervises non-bank financial institution (NBFIs) to the extent that they have ownership links with banks, and are permitted to have quasi-banking function and trust operations and offer foreign exchange products and services. The Securities Regulation Code (SRC) is the main legal basis for the regulation of the markets. The SRC narrowed and redefined the scope of responsibilities of the SEC to enable the regulator to focus on regulation of the securities market and its enforcement in particular. However, further rationalization of the scope seems necessary and is expected. The SRC also provided for demutualization of the Philippine Stock Exchange (PSE) which addressed, among other things, the PSE's conflicts of interest as an self-regulatory organization (SRO). The Philippines' regulatory and supervisory framework is, while comprehensive in coverage, complex. It is due to the fact that the financial industry and services are increasingly conglomerated and universalized with functional regulation while the regulatory authorities remain to be fragmented. The SEC is the primary regulatory authority over the capital markets and their participants. NBFIs are regulated and supervised by the SEC.en
dc.identifierhttp://documents.worldbank.org/curated/en/2002/07/10038873/philippines-financial-sector-assessment-program-iosco-objectives-principles-securities-regulation
dc.identifier.doi10.1596/15537
dc.identifier.urihttps://hdl.handle.net/10986/15537
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTANT
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectALTERNATIVE TRADING SYSTEMS
dc.subjectAUDITS
dc.subjectBANK ACCOUNT
dc.subjectBANK ACCOUNTS
dc.subjectBANK SECRECY
dc.subjectBANK SUPERVISION
dc.subjectBANKING LAW
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBROKER
dc.subjectBROKER DEALER
dc.subjectBROKER DEALERS
dc.subjectBROKER-DEALER
dc.subjectBROKER-DEALERS
dc.subjectBROKERAGE
dc.subjectBROKERS
dc.subjectBUDGET DEFICIT
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL BASE
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKET DEVELOPMENT
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL DEPOSITORIES
dc.subjectCENTRAL DEPOSITORY
dc.subjectCIVIL CODE
dc.subjectCLEARING CORPORATION
dc.subjectCLEARING HOUSE
dc.subjectCODE OF CONDUCT
dc.subjectCODE OF CONDUCTS
dc.subjectCOLLECTIVE INVESTMENT
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL PAPERS
dc.subjectCOMMODITY
dc.subjectCOMPUTER SYSTEMS
dc.subjectCONFIDENTIALITY
dc.subjectCONFLICT OF INTEREST
dc.subjectCONFLICTS OF INTEREST
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIBILITY
dc.subjectCREDITORS
dc.subjectCUSTODIAN BANKS
dc.subjectDEBT
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT ISSUERS
dc.subjectDEBT MARKET
dc.subjectDEFAULTS
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEPOSIT SUBSTITUTES
dc.subjectDIRECT ACCESS
dc.subjectDISCLOSURE DOCUMENTS
dc.subjectDISCLOSURE OF INFORMATION
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKET
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC POLICIES
dc.subjectELECTRONIC COMMUNICATION
dc.subjectENFORCEMENT POWER
dc.subjectENFORCEMENT POWERS
dc.subjectEQUITY MARKET
dc.subjectEXPOSURES
dc.subjectFINANCIAL CONGLOMERATES
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICE
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIXED INCOME
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE TRANSACTIONS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFRAUD
dc.subjectFUTURES
dc.subjectFUTURES CONTRACTS
dc.subjectFUTURES EXCHANGE
dc.subjectGOVERNANCE MECHANISM
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT SECURITIES
dc.subjectHOLDING
dc.subjectHUMAN RESOURCES
dc.subjectINDIVIDUAL INVESTOR
dc.subjectINDIVIDUAL INVESTORS
dc.subjectINFORMATION SHARING
dc.subjectINFORMATION SYSTEMS
dc.subjectINSIDER TRADING
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE COMPANY
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINVESTING
dc.subjectINVESTMENT MANAGEMENT
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTOR BASE
dc.subjectINVESTOR PROTECTION
dc.subjectISSUANCE
dc.subjectJURISDICTION
dc.subjectJURISDICTIONS
dc.subjectLAW ENFORCEMENT
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL INFRASTRUCTURE
dc.subjectLEGAL TRADITION
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectLOCAL GOVERNMENT
dc.subjectMALFEASANCE
dc.subjectMARKET ACCESS
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET INTERMEDIARIES
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET MANIPULATION
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET PRACTICES
dc.subjectMARKET REGULATION
dc.subjectMARKET STRUCTURE
dc.subjectMARKET SURVEILLANCE
dc.subjectMARKET SURVEILLANCE SYSTEM
dc.subjectMARKET TURNOVER
dc.subjectMEMBER BROKER
dc.subjectMEMBER BROKERS
dc.subjectMICRO FINANCE
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMONETARY AUTHORITY
dc.subjectMONETARY FUND
dc.subjectMONEY LAUNDERING
dc.subjectMUTUAL FUNDS
dc.subjectNET CAPITAL
dc.subjectNET-CAPITAL
dc.subjectNOMINEE ACCOUNTS
dc.subjectOPERATIONAL INDEPENDENCE
dc.subjectOUTSOURCING
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPOTENTIAL LIABILITIES
dc.subjectPRICE BAND
dc.subjectPRICE MOVEMENTS
dc.subjectPRIVATE FINANCIAL INSTITUTIONS
dc.subjectPRIVATE PLACEMENT
dc.subjectPUBLIC COMPANIES
dc.subjectREGISTRATION FEES
dc.subjectREGISTRATION OF SECURITIES
dc.subjectREGISTRATION REQUIREMENTS
dc.subjectREGISTRATION STATEMENT
dc.subjectREGISTRATION STATEMENTS
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY AGENCY
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY CAPACITY
dc.subjectREGULATORY REGIME
dc.subjectREGULATORY RESTRICTIONS
dc.subjectREGULATORY STANDARDS
dc.subjectREGULATORY SYSTEM
dc.subjectREPOS
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENT
dc.subjectRETURNS
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSCANDAL
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKET TRADING
dc.subjectSECRECY LAW
dc.subjectSECURITIES
dc.subjectSECURITIES BROKERS
dc.subjectSECURITIES LAW
dc.subjectSECURITIES MARKET
dc.subjectSECURITIES REGULATION
dc.subjectSECURITIES REGULATIONS
dc.subjectSECURITIES REGULATOR
dc.subjectSECURITIES TRANSACTIONS
dc.subjectSEIZURE
dc.subjectSELF-REGULATION
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT OF TRADES
dc.subjectSHARE PRICE
dc.subjectSINGLE PROPRIETORSHIPS
dc.subjectSINKING FUND
dc.subjectSTOCK EXCHANGE
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectSYSTEMIC RISK
dc.subjectT-BILLS
dc.subjectTAX
dc.subjectTRADE ASSOCIATION
dc.subjectTRADING
dc.subjectTRADING MARKETS
dc.subjectTRADING SYSTEMS
dc.subjectTRADING VOLUME
dc.subjectTRADING VOLUMES
dc.subjectTRANSFER AGENTS
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREASURY BILLS
dc.subjectTREASURY BONDS
dc.subjectTREASURY SECURITIES
dc.subjectTURNOVER RATIO
dc.subjectUNIVERSAL BANKING
dc.subjectUNIVERSAL BANKS
dc.subjectUNSECURED BONDS
dc.titlePhilippines : IOSCO Objectives and Principles of Securities Regulationen
dspace.entity.typePublication
okr.date.doiregistration2025-05-07T11:49:35.619821Z
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program (FSAP)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2002/07/10038873/philippines-financial-sector-assessment-program-iosco-objectives-principles-securities-regulation
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid671441468093600603
okr.identifier.externaldocumentum000334955_20081120052657
okr.identifier.internaldocumentum10038873
okr.identifier.report46540
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/11/20/000334955_20081120052657/Rendered/PDF/465400ESW0P0761c1securities0reg1phl.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.sectorFinance :: General finance sector
okr.themeFinancial and private sector development :: Other financial and private sector development
okr.topicLaw and Development::Corporate Law
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitFinancial Sector Assessment Prog (FPDFP)
okr.volume1 of 1
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