Manila, Aug. 4 -- Several senators formally took on new committee chairmanships on Monday as part of a reorganization of Senate leadership roles in the ongoing 20th Congress.

Senator Alan Peter Cayetano now heads the Senate Committee on Banks, Financial Institutions, and Currencies, from his previous role as chair of the Committee on Science and Technology.

He will now lead Legislative Oversight and Reforms concerning banks, capital markets, digital finance, and consumer protection.

Cayetano said the committee will play a critical role in safeguarding the public from scams and financial mismanagement.

"Walang masama kung silipin natin paminsan-minsan para matiyak na maayos ang investments nila, walang scam, at tama ang pagpapatakbo (T...