Regulatory Alerts2024-10-10
M-2024-032: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)
Bangko Sentral ng Pilipinas has updated the official registry of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) as of the second quarter of 2024. The memorandum directs all Authorized Agent Banks and their foreign exchange subsidiaries to cease honoring these superseded documents for capital repatriation or earnings remittances, in strict compliance with Section 38 of the Foreign Exchange Manual. This action finalizes the cancellation of original and provisional BSRDs issued between April 2020 and December 2022 due to investment changes or transfers.
MEMORANDUM M-2024-BBB OFFICE OF THE DEPUTY GOVERNOR
TO: All Authorized Agent Banks (AABs) and Subsidiary/Affiliate Foreign Exchange Corporations of AABs (AAB-forex corps)
SUBJECT: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)
Please be advised that the following link: https://www.bsp.gov.ph/Price%20Stability/Download%20Section/List%20of%20Cancelled%20and%20Replaced%20BSRDs.PDF has been updated as of the second quarter of 2024.
The above link was provided under Memorandum No. M-2023-016 dated 26 April 2023 covering the list of original BSRDs (issued in hardcopy) and provisional BSRDs (issued in electronic copy) pertaining to registration of investments of non-residents in resident investee-firms, which were cancelled and replaced from April 2020 to December 2022 due to changes/transfers, etc. in these investments pursuant to the provisions of the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended.
These previously issued BSRDs have been cancelled/replaced and should not be honored if presented for purchase of foreign exchange for capital repatriation or remittance of earnings, pursuant to Section 38 of the FX Manual.
For information and compliance.
FRANCISCO G. DAKILA, JR. Deputy Governor 2024
Digitally signed by Francisco G. Dakila Jr. Date: 2024.10.10 15:59:14 +08'00' 10 October