Title
BSP Rules on Cases for Bank Officers
Law
Circular No. 1012
Decision Date
Sep 19, 2018
The Bangko Sentral ng Pilipinas establishes revised procedures for handling administrative cases against directors and officers of BSP-supervised financial institutions, ensuring confidentiality, summary proceedings, and a streamlined complaint process effective January 1, 2019.

Law Summary

Nature of Proceedings

  • Proceedings are summary in nature.
  • Technical rules of procedure and evidence for judicial trials need not be strictly followed.
  • Rules of Court may be applied suppletorily when not contrary to the summary nature.

Representation and Confidentiality

  • Parties may be assisted or represented by counsel.
  • Proceedings are confidential and communication must be in writing, with copies furnished to opposing parties.

Definitions

  • Terms defined in the Manual of Regulations are adopted for these Rules.

Complaint Requirements

  • Complaints must be in writing, sworn to by the complainant; anonymous complaints are disallowed.
  • Must include specific details: complainant and respondent names and addresses, respondent's position, charges, statement of material facts, prior related complaints, and referrals to appropriate BSP departments.
  • Supported by documents and sworn statements if available.

Filing and Action on Complaints

  • Filed with the Office of Special Investigation (OSI) in required copies.
  • OSI determines sufficiency and issues notice to file answer or dismisses complaint without prejudice.

Respondent's Answer

  • Respondent must file sworn answer within 10 days, admitting or denying charges and presenting evidence.
  • Failure to answer is a waiver and allows case resolution based on complainant's evidence.

Prohibited Pleadings and Motions

  • Motions to dismiss except for jurisdictional issues, bill of particulars, subpoenas, discovery, postponements, and similar dilatory motions are prohibited.

Modes of Service

  • Service may be by personal delivery, registered mail, courier, or electronic means with record of delivery.
  • Service is deemed complete upon actual delivery or specified timeframes depending on mode.

Jurisdiction Over Respondent

  • Jurisdiction attaches upon completion of service of notice to file answer and complaint.
  • If respondent refuses receipt or is no longer connected to institution, service may be effected at last known address.

Proceedings Before Hearing Officer

  • Parties submit simultaneous verified position papers with supporting evidence.
  • Opportunity to file comments within 10 days of position paper receipt.
  • Hearing Officer may issue clarificatory orders to obtain necessary information.

Resolution of Cases

  • Hearing Officer submits a report with findings and recommendations within 60 days from submission order.
  • Extension of time allowed only with General Counsel's approval.
  • Dismissal reports submitted for Governor's approval and not appealable to Monetary Board.
  • Monetary Board issues final resolution, effective after 15 days unless timely motion for reconsideration is filed.
  • Only one motion for reconsideration allowed.
  • Resolution referred for enforcement to concerned BSP department.

Appeal

  • Appeal from Monetary Board resolution may be filed with the Court of Appeals per Rule 43 of the Rules of Court.
  • Interlocutory orders of OSI are not appealable to the Governor or Monetary Board.
  • Appeal does not stay enforcement unless ordered by the Court of Appeals.

Miscellaneous Provisions

  • Repeals or modifies inconsistent existing rules, regulations, orders, or circulars.
  • Separability clause preserves validity of other provisions if any part is declared unconstitutional.
  • Rules take effect on 1 January 2019.
  • Pending administrative cases with SBCEG are resolved under previous BSP Circular No. 477 before the effectivity.
  • After effectivity, pending cases resolved under these Rules where applicable.

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