Practice question
An account with an investment company is claimed to be absolutely confidential under RA6426 because it involves foreign currency. The company is not a bank authorized by BSP to operate a foreign currency deposit unit. Explain the relevance of the 2025 Ligot MAIN ruling without assuming that absence of RA6426 protection abolishes all other legal protections.
Legal references
- Heirs of Ligot v. Republic, GR257827 et al, March5 2025, Dimaampao MAIN: https://lawphil.net/judjuris/juri2025/mar2025/gr_257827_2025.html MAIN CFSI account and prior GR229814 resolution discussion.
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