QuestionsQuestions (BSP MEMORANDUM)
The BSP Governor constituted the Panel, consisting of lawyers from the Supervised Banks Complaints Evaluation Group, Office of the General Counsel and Legal Services, BSP, assisted by bank officers from the Supervision and Examination Sector (SES).
The Panel helps resolve disputes between BSP-supervised institutions (and/or their directors/trustees/officers) and their clients from the public arising from the clients’ dealings with those institutions.
Complaints arising from clients’ dealings with BSP-supervised institutions.
It addresses disputes between BSP-supervised institutions (and/or their directors/trustees/officers) and clients, focusing on client dealings; however, it expressly excludes certain matters involving violations of banking laws.
Cases involving violation of banking laws, rules, and regulations that must be investigated and prosecuted pursuant to BSP Circular No. 477, series of 2005.
BSP Circular No. 477, series of 2005 (Rules of Procedure on Administrative Cases Involving Directors and Officers of Banks, Quasi-Banks and Trust Entities).
No. The memorandum states the Panel has no jurisdiction over cases involving violations that must be handled under BSP Circular No. 477, s. 2005.
It shall require the parties to appear before it for a mediation conference.
It shall explore the possibility of reaching a mutually acceptable agreement between the parties.
The Panel shall render reports to BSP Management.
Lawyers from the Supervised Banks Complaints Evaluation Group and the Office of the General Counsel and Legal Services, BSP, assisted by bank officers from the Supervision and Examination Sector (SES).
It is signed by Nestor A. Espenilla, Jr., Deputy Governor.
It shall take effect immediately.
06 March 2006.
It is a March 6, 2006 memorandum (as indicated in the title and adopted date).
They are enjoined to extend cooperation to the Panel to enable it to resolve client disputes and carry out its mediation functions.
The Panel covers disputes arising from client dealings but has no jurisdiction over matters involving violations of banking laws, rules, and regulations, which must follow BSP Circular No. 477, s. 2005.