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Manila Bulletin devider Business devider Banking & Finance devider BSP tightens rules on reinstating barred bank executives

BSP tightens rules on reinstating barred bank executives

Published Dec 18, 2025 02:21 pm
The central bank tightened its rules on the reinstatement of barred financial executives, ensuring that pending legal battles or ongoing investigations will block the automatic clearing of their records.
Under Circular No. 1206, Series of 2025, the Bangko Sentral ng Pilipinas (BSP) said the five-year period for temporary disqualification begins once an individual is officially notified.
While the policy generally allows for automatic delisting after that window, the BSP clarified that those facing active court or administrative cases will remain on the disqualified list.
The restriction also extends to suspended executives currently under investigation by the central bank’s legal office.
Even in the absence of active litigation, the BSP said the Monetary Board retains the authority to block a return to the industry if it determines an individual’s fitness and propriety remain in question.
Barred officers seeking to clear their names must submit formal requests for delisting, supported by court orders or clearances proving their cases were resolved in their favor. The Monetary Board holds final approval over these applications.
The central bank confirmed the provisions are retroactive, applying to directors and officers disqualified before the circular’s issuance. Separately, the regulator noted that individuals known to be deceased will be delisted automatically upon proof of death.
The new rules take effect 15 days after publication in the Official Gazette or a newspaper of general circulation.
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