Inquirer
BSP fine-tunes rule on officers watchlist
The Bangko Sentral ng Pilipinas (BSP) has updated its rules regarding the disqualification of directors and officers in banks and non-bank financial institutions.
The amendments clarify the start and duration of temporary disqualifications, which generally last for five years.
Individuals will be automatically delisted after the five-year period if their cases are resolved.
However, automatic delisting will not apply to those with pending cases in court or under investigation by the BSP, or those deemed unfit by the Monetary Board.
These changes aim to strengthen safeguards and ensure the integrity of individuals holding positions in financial institutions.
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