Which entity is responsible for regulating UITFs?

The regulation of Unit Investment Trust Funds (UITFs) falls under the scope of the Bangko Sentral ng Pilipinas (BSP). The BSP is the primary monetary authority in the Philippines, overseeing banks and financial institutions, which includes the supervision of entities that offer UITFs.

UITFs are established within banks, and the BSP is tasked with ensuring that these financial products comply with necessary regulations and uphold the stability and integrity of the financial system. The BSP's regulatory framework ensures that UITFs operate transparently and provide adequate disclosures to investors, thereby safeguarding their interests while promoting a sound investment environment.

While other organizations like the Securities and Exchange Commission (SEC) play a role in regulating certain investment funds and securities, the specific governance and oversight of UITFs are distinctly under the jurisdiction of the BSP. Thus, understanding the role of the BSP in this context is crucial for anyone studying the regulatory landscape surrounding UITFs.