Inclusive Finance - Consumer Protection

The BSP Financial Consumer Protection Framework

Circular No. 1048 or the BSP Regulations on Financial Consumer Protection seeks to fundamentally strengthen market conduct practices of Bangko Sentral ng Pilipinas’ (BSP) supervised financial institutions (BSFIs) by establishing guidelines that institutionalize consumer protection as an integral component of corporate governance and culture, as well as risk management.


This is part of the BSP’s commitment to promote broad and convenient access to high quality financial services and consider the interest of the general public, as mandated by its amended charter. In doing so, the BSP aims to ensure that financial service providers conduct ethical business practices and do not engage in practices that may cause harm to the consumer in the conduct of their business. The consumer protection standards of conduct, i.e., disclosure and transparency, protection of client information, fair treatment, effective recourse mechanism, and financial education and awareness should be embedded into the corporate culture of the BSFI, enhancing further its defined governance framework while addressing conflicts that are inimical to the interests of the financial consumer.

Standards of Conduct 


Created:10/5/2020 2:12 PM   by:  Rhodawynn Concepcion Obillo-Segun
Modified:10/1/2021 3:41 PM   by:  Rhodawynn Concepcion Obillo-Segun