Regulatory Alerts2025-12-15
Circular No. 226 Series of 2025: Amendments to Regulations on Disqualification of Directors and Officers
The Bangko Sentral ng Pilipinas issued Circular No. 226 to amend the disqualification provisions in the Manual of Regulations for Banks and Non-Bank Financial Institutions. The directive establishes a five-year temporary disqualification period commencing upon official notification, with automatic delisting contingent upon the absence of pending legal cases or ongoing fitness assessments. It further mandates that individuals with derogatory records may request delisting by providing proof of favorable judicial or regulatory decisions, while deceased persons are automatically delisted upon verification of death.
BANGKO SENTRAL NG PILIP NAS Subject: The Monetary Board. in its Resolution No. 1072 dated 30 October 2025, approved the following amendments to the provisions of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non Bank Financial Institutions (MORNBFl): OFFICE OF THE GOVERNOR Amendments to the Regulations on Disqualification of Directors and Officers CIRCULAR No. 226 Series of 2025 Section I. Sections 138 of the MORB and 137-Q of the MORNBFl on Disqualification of Directors and Officers shall be amended to read, as follows: a. Dell^ting. Temporary disqualification of persons shall commence from the time they were officially advised by the BSP of their disqualification and shall be in effect for a period of five years after which the said person shall be automatically delisted: Provided. That those with pending case before a court or administrative body. or under investigation by the Office of the General Counsel and Legal Services-Bangko Sentral. or as may be determined by the Monetary Board based on an assessment of a person's fitness and propriety to become a director/officer of a Bank/Quasi-Bank. shall not be automatically delisted even after the lapse of five years, In such cases, said persons may submit a request for delisting together with documentary proof te. g. , Order/Decision/Clearance issued by the appropriate bodyl showing that the cases filed against them were decided in their favor. or that they were cleared by the appropriate body, e. g. . the judiciary, quasi-judicial bodies and domestic financial regulatory authorities and similar agencies or authorities of foreign countries where the person concerned has a derogatory record. The Monetary Board shall then make the determination whether to approve or disapprove the request for delisting Persons known to be dead shall be automatically delisted upon proof of death. The provisions on delisting in this Section shall apply retroactive Iy. Page I of 2
This Circular shall take effect within fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation. December 2025 FOR THE MONETARY BOARD: ^;.., ELI M. REMOLO, ,A, JR. Governor Page 2 of 2