MB disqualifies two firms from registering with BSP

The Monetary Board has disqualified the two (2) entities listed below and any sole proprietorship owned and/or controlled by their respective owners/operators from registering with, and/or obtaining a license from, the Bangko Sentral ng Pilipinas (BSP) to engage in any activity supervised by the BSP, for engaging in the Money Service Business (MBS) without prior BSP registration.

Entity’s Name	Location	Owner/Operator/ Contact Person
1.      Feb Thirdy 1 Money Changer	Unit No. S-5, Corcel Arcade Bldg., Domestic Road St., Barangay 190, Pasay City, Metro Manila	Alberto M. Sta. Ana
2.      Maruel Money Changer	Unit No. S-11, Corcel Arcade Bldg., Airport Road St., Barangay 190, Pasay City, Metro Manila	Ariel E. Narisma

 

The above disqualification is pursuant to Section 901-N of the BSP’s Manual of Regulations for Non-Bank Financial Institutions, and is part of the BSP’s efforts to address the proliferation of entities engaged in the operation of unauthorized MSBs.