Regulatory Alerts2024-02-21
M-2024-007: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)
Deputy Governor Francisco G. Dakila, Jr. of the Bangko Sentral ng Pilipinas issued this memorandum to inform Authorized Agent Banks and Foreign Exchange Corporations that the list of cancelled and replaced Bangko Sentral Registration Documents has been updated for the fourth quarter of 2023. The document specifies that original and provisional BSRDs pertaining to non-resident investments in resident firms, which were cancelled or replaced between April 2020 and December 2022, must not be honored for foreign exchange purchases or earnings remittances. This directive enforces Section 38 of the Manual of Regulations on Foreign Exchange Transactions to ensure compliance with current registration status changes.
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