Regulatory Issuances

Overview

PGPawn Inc. operates in full compliance with the regulations issued by the Bangko Sentral ng Pilipinas (BSP) and other relevant government agencies of the Republic of the Philippines. The following regulatory issuances govern our pawnshop operations.

Primary Legislation

• Republic Act No. 114 — The Pawnshop Regulation Act. This law provides the primary framework for the regulation, supervision, and examination of pawnshops in the Philippines.
• Republic Act No. 7653 — The New Central Bank Act, as amended by RA 11211, which empowers the BSP to supervise pawnshops as part of the financial system.
• Republic Act No. 9160 — Anti-Money Laundering Act of 2001, as amended, which requires pawnshops to implement know-your-customer (KYC) procedures and report covered and suspicious transactions.

BSP Circulars and Memoranda

• BSP Circular No. 706 — Regulations governing the operations of pawnshops, including capital requirements, operational standards, and consumer protection measures.
• BSP Circular No. 950 — Amendments to the Manual of Regulations for Non-Bank Financial Institutions relating to pawnshop operations.
• BSP Memorandum No. M-2020-008 — Guidelines on the implementation of digital financial services for pawnshops, enabling the use of electronic platforms for client onboarding and transaction facilitation.
• BSP Circular No. 1048 — Enhanced Anti-Money Laundering and Counter-Terrorism Financing regulations applicable to covered entities including pawnshops.

Data Privacy Regulations

• Republic Act No. 10173 — Data Privacy Act of 2012 and its Implementing Rules and Regulations (IRR), which govern the collection, processing, and protection of personal information.
• NPC Circular No. 16-01 — Security of Personal Data in Government Agencies, adopted as best practice by private entities including pawnshops.

Consumer Protection

• BSP Circular No. 857 — Financial Consumer Protection Regulations requiring pawnshops to adopt fair, transparent, and responsible practices in dealing with clients.
• Republic Act No. 7394 — The Consumer Act of the Philippines, applicable to pawnshop transactions involving consumer goods.

Interest Rate and Fee Disclosures

In compliance with BSP regulations and the Truth in Lending Act (Republic Act No. 3765), PGPawn Inc. discloses all applicable interest rates, fees, and charges to clients prior to the execution of any pawn transaction. These disclosures are reflected on the pawn ticket issued for each transaction.

Compliance and Reporting

PGPawn Inc. submits regular reports to the BSP and other regulatory bodies as required by applicable regulations. These include, but are not limited to, reports on pawnshop operations, anti-money laundering compliance, and data privacy practices.

Updates to Regulatory Issuances

This page is updated periodically to reflect new or amended regulatory issuances. Clients and the public are encouraged to refer to the official BSP website (www.bsp.gov.ph) and the National Privacy Commission website (www.privacy.gov.ph) for the most current versions of applicable regulations.

Inquiries

For regulatory compliance inquiries, please contact our Compliance Officer at inquiry@pgpawn.com.ph or visit us at 8th Floor, The Currency Tower, F. Ortigas Jr. Road corner Dona Julia Vargas Avenue, Ortigas Center, Pasig City, Philippines.