THE Monetary Board has issued a circular mandating Bangko Sentral ng Pilipinas-supervised financial institutions (BSFIs) to have a board-approved policy deciding when to file cases against erring personnel.
THE Monetary Board has issued a circular mandating Bangko Sentral ng Pilipinas-supervised financial institutions to have a board-approved policy deciding when to file cases against erring personnel.According to a draft circular, this policy will help deter misconduct, promote discipline within BSFIs, and protect depositors and other financial consumers.The BSFI's policy will also cover dismissed directors, officers and employees.
'The board shall establish bespoke policy comprised of process, procedures, guidelines and criteria, aligned with the overall framework for managing human resource-related risks,' the BSP said.It emphasized that this policy will determine when to file administrative, civil and/or criminal cases against erring or dismissed personnel.
Issues Policy On Filing Cases Vs Erring Personnel
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