MORNBFI Vol. 1 - Planters Development Bank

APP. Q-3508.12.31BANGKO SENTRAL RULES OF PROCEDURE ON ADMINISTRATIVE CASESINVOLVING DIRECTORS AND OFFICERS OF QUASI-BANKS AND TRUST ENTITIES(Appendix to Sec. 4150Q)RULE I – GENERAL PROVISIONSSection 1. Title. – These Rules shall beknown as the BSP Rules of Procedure onAdministrative Cases Involving Directorsand Officers of Quasi-Banks and TrustEntities.Sec. 2. Applicability. – These Rulesshall apply to administrative cases filed withor referred to the Office of SpecialInvestigation (OSI), BSP, involving directorsand officers of quasi-banks and trust entitiespursuant to Section 37 of R.A. No. 7653(The New Central Bank Act) and Sections16 and 66 of R.A. No. 8791 (The GeneralBanking Law of 2000).The disqualification of directors andofficers under Section 16 of R.A. No. 8791shall continue to be covered by existing BSPrules and regulations.Sec. 3. Nature of Proceedings. – Theproceedings under these Rules shall besummary in nature and shall be conductedwithout necessarily adhering to thetechnical rules of procedure and evidenceapplicable to judicial trials. Proceedingsunder these Rules shall be confidential andshall not be subject to disclosure to thirdparties, except as may be provided underexisting laws.RULE II – COMPLAINTSec. 1. Complaint. - The complaint shallbe in writing and subscribed and sworn toby the complainant. However, in casesinitiated by the appropriate department ofthe BSP, the complaint need not be underoath. No anonymous complaint shall beentertained.Sec. 2. Where to file. – The complaintshall be filed with or referred to the OSI.Sec. 3. Contents of the Complaint - Thecomplaint shall contain the ultimate factsof the case and shall include:a. full name and address of thecomplainant;b. full name and address of the personcomplained of;c. specification of the charges;d. statement of the material facts;e. statement as to whether or not asimilar complaint has been filed with theBSP or any other public office.The complaint shall include copies ofdocuments and affidavits of witnesses, ifany, in support of the complaint.RULE III – DETERMINATION OF PRIMAFACIE CASE AND PROSECUTION OFTHE CASESec. 1. Action on Complaint.- Upondetermination that the complaint is sufficientin form and substance, the OSI shall furnishthe respondent with a copy thereof andrequire respondent to file within ten (10)days from receipt thereof, a sworn answer,together with copies of documents andaffidavits of witnesses, if any, copy furnishedthe complainant.Failure of the respondent to file ananswer within the prescribed period shallbe considered a waiver and the case shallbe deemed submitted for resolution.Sec. 2. Preliminary Investigation. –Upon receipt of the sworn answer of therespondent, the OSI shall determinewhether there is a prima facie case againstthe respondent. If a prima facie isManual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-35 - Page 1