Philippines SEC strengthens enforcement capacity with US and ADB collaboration.
To combat crypto fraud, the Philippines Securities and Exchange Commission (SEC) has joined forces with the US SEC and the Asian Development Bank. To upskill and increase their enforcement capabilities, the three organizations organized an International Organization of Securities Commissions (IOSCO) Workshop and an Investigation and Enforcement Training Workshop. The Philippine Securities and Exchange Commission recently signed the IOSCO Multilateral Memorandum of Understanding on crypto crime.
The partnership of the groups is a big step forward for the Philippines in terms of digital asset governance. The SEC Philippines collaborates with international organizations to carry out its mission of safeguarding the public against securities fraud and other types of investment fraud.
The Philippine SEC's partnership with its US counterpart and the Asian Development Bank aims to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes. The SEC Philippines is committed to protecting and respecting the personal data gathered from its clients in accordance with the Data Privacy Act of 2012. It is taking security measures to protect the information from loss, unauthorized access, use or disclosure.
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