Keano C. Bayan
BSAC 1-1
MINUTE PAPER: SEC: BSP: INSURANCE COMMISSION: CDA
The materials for the Regulators lessons provided great learnings, here are some of the
significant learnings that I learned:
SEC
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Securities and Exchange Commission is the registrar and overseer of the
Philippine corporate sector; it oversees over 600,000 participating companies
and evaluates all financial statements filed with it. The Securities and Exchange
Commission both establishes and controls the stock market, which is an
important part of the Philippine financial system and economy.
BSP
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The main purpose of the BSP's monetary policy is to encourage low and steady
inflation, which is essential for sustained and long-term economic development.
This aim was pursued with the introduction of the inflation targeting mechanism
for monetary policy.
The Bangko Sentral supervises bank activities and exercises regulatory powers
over financial companies and non-bank financial institutions that conduct quasibanking functions, as set out in the New Central Bank Act and other relevant
laws.
INSURANCE COMMISSION
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The Insurance Commission is in charge of promoting financial stability, establish
a sound insurance market in the country and ensuring that the rights of
insurance companies, pre-need and HMO customers are being protected.
CDA
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The Cooperative Development Authority is the only government body that is
responsible for registering all cooperatives.