Question & AnswerQ&A (CIRCULAR NO. 1012)
The rules are titled 'Bangko Sentral ng Pilipinas (BSP) Revised Rules of Procedure on Administrative Cases Involving Directors and Officers of BSP-Supervised Financial Institutions.'
These Rules apply to administrative cases filed with the Office of Special Investigation (OSI), BSP, involving directors and officers of BSP-supervised financial institutions pursuant to Section 37 of Republic Act No. 7653 and Section 16 of Republic Act No. 8791. They also apply to cases arising out of fact-finding investigations by OSI.
No, complaints against the financial institutions as juridical entities are not covered by these Rules. Supervisory and enforcement actions are also excluded.
The proceedings are summary in nature and conducted without strict adherence to technical rules of procedure and evidence applicable in judicial trials. The Rules of Court may be applied suppletorily if needed.
Yes, parties may be assisted or represented by counsel if they so desire.
Complaints must be in writing, subscribed and sworn to by the complainant. Anonymous complaints are not entertained. They must be filed with the OSI in as many copies as there are respondents plus two copies for the OSI.
The complaint must specify: full names and addresses of complainant and respondent, respondent's position, charges against the respondent, material facts, prior similar complaint status, referral to Financial Consumer Protection Department if applicable, and include supporting documents and sworn witness statements if any.
The OSI shall dismiss the complaint without prejudice or take appropriate action if it does not comply with the formal requirements.
The respondent has ten (10) days from receipt of the notice to file a sworn answer to the complaint.
No, motions to dismiss except on grounds of lack of jurisdiction, bills of particulars, subpoenas, discovery, postponements, or similar dilatory motions are prohibited.
Service may be by personal delivery, registered mail, courier, or electronic means that provide proof of delivery, addressed to the party's residence, office, or regular place of business.
Jurisdiction is acquired once service of the notice to file answer and a copy of the complaint is completed. If the respondent refuses to accept the notice, service may be effected by leaving it at their residence, office, or last known address.
The Hearing Officer must submit a report within sixty (60) calendar days from issuance of the order declaring the case submitted for resolution, which may be extended with approval of the General Counsel.
Yes, parties may appeal to the Court of Appeals within the period and manner provided under Rule 43 of the Rules of Court. Interlocutory orders of OSI are not appealable.