Regulatory Alerts2024-02-19
Circular No. 1188: Amendments to Persons Exempted from Attending the Seminar on Corporate Governance for Board of Directors
Bangko Sentral ng Pilipinas issued Circular No. 1188 to amend the eligibility requirements for directors under the Manual of Regulations for Banks. The Monetary Board approved exempting incumbent Cabinet Secretaries serving ex-officio as directors or chairmen in government financial institutions from the mandatory corporate governance seminar. This amendment modifies Section 132 of the MORB and takes effect fifteen days after publication in the Official Gazette or a newspaper of general circulation.
Share