The Bangko Sentral ng Pilipinas (BSP) is proposing new regulations that tighten rules on stock ownership and qualification in banks and quasi-banks to ensure good corporate governance and proper oversight.
The draft circular covers the fitness and propriety of stockholders, including integrity, reputation, financial capacity, and disqualification issues.
The BSP is seeking industry feedback on the proposed regulations until July 21.
The new regulations will include provisions addressing limits on stockholdings, transactions involving voting shares, foreign equity investment, and regulations on shares of both banks and quasi-banks.
