 Seizing upon this opportunity, Buenaventura strongly advocated a regulatory regime that would allow maximum transparency and protection of both banks and their clients.He instituted key policy changes that had the effect of slowly dismantling well-entrenched interests that had until then been out of reach of the regulatory arms of the BSP as bank regulator.During his term as BSP governor, Buenaventura abolished the controversial and easily abused common trust funds and replaced them with the more transparent and comprehensible unit investment trust funds.