Guidelines on the Qualification/Accreditation Requirements of Personal Equity and Retirement Account (PERA) Market Participants and PERA Investment Products

November 28, 2014BSP CIRCULAR NO. 860-14SUBJECT:Guidelines on the Qualification/Accreditation Requirements of Personal Equity and Retirement Account (PERA) Market Participants and PERA Investment Products The Monetary Board in its Resolution No. 1835 dated 13 November 2014, approved the following guidelines on the qualification/accreditation of PERA Market Participants and PERA Investment Products which are being issued pursuant to Republic Act (R.A.) No. 9505 also known as the PERA Act of 2008 (PERA Act) and its Implementing Rules and Regulations (the PERA Rules). SECTION 1. Applicability. —These guidelines apply to banks, trust entities 1 and other entities determined by the Bangko Sentral ng Pilipinas (BSP) as eligible that seek to be qualified/accredited and are qualified/accredited as PERA Market Participants, and to PERA Investment Products that are considered eligible by the BSP for PERA purposes.SECTION 2. Eligibility Criteria. —A. PERA Investment ProductsThe following PERA investment products are considered to be BSP-eligible PERA Investment Products, provided that with respect to items 1 and 2 below they are issued by BSP-supervised entities with CAMELS rating of not lower than "3" or...