Amendments to the Online Registration System of the AMLC Registration and Reporting Guidelines

December 3, 2018 AMLC REGULATORY ISSUANCE (ARI) A AND B, NO. 003-18 SUBJECT : Amendments to the Online Registration System of the AMLC Registration and Reporting Guidelines By the authority vested in me by the Anti-Money Laundering Council (AMLC), pursuant to AMLC Resolution No. 192 dated 23 November 2018, the following amendments to Part 2 Online Registration System (ORS) of the AMLC Registration and Reporting Guidelines (ARRG) are hereby issued. SECTION 1. Guideline No. 5, page 2, of the ORS, is hereby amended as follows: "5. The Secretariat will issue a Certificate of Registration (COR), with the facsimile signature of the AMLCS Executive Director or the Officer-in-Charge, to successfully-registered CPs, upon request. The said COR will be sent via email as a PDF file. Pending issuance by the BSP of the institution code for MSBs and pawnshops, the Secretariat will issue a Provisional Certificate of Registration (PCOR) to the registering MSB or pawnshop, upon their compliance with the requirements stated in Guidelines 1 to 3 hereof. Pending completion by the registering DNFBP of all the requirements stated in Section 48 of ARI (B) No. 1, Series of 2018, the Secretariat will issue a PCOR to the registering DNFBP upon compliance with the requirements stated in Guidelines 1 to 3 hereof, and upon uploading through the AMLC portal in PDF format, of the following requirements: a.) Notarized Deed of Undertaking signed by the officer authorized by the DNFBP's Board of Directors/Partners/Owners, to strictly comply with the requirements, rules and regulations of the AMLC and those issued by the appropriate regulatory, supervisory, professional or other similar authority [Annex B of ARI(B) No. 1], and b.) Notarized Deed of Undertaking signed by the officer of the registering DNFBP who shall be responsible for any violation of the AMLA, as amended, and its Implementing Rules and Regulations [Annex C of ARI(B) No. 1]. The PCOR shall be valid for six (6) months, unless the ED or OIC grants a one-time, non-renewable extension for up to six (6) months upon written request or email therefor, citing justifiable grounds. MSBs pawnshops, or DNFBPs that have successfully complied with all the requirements for registration may, upon their request, be issued a COR with the facsimile signature of the AMLCS ED or OIC. " SECTION 2. Item No. 10, page 12, of the ORS, is hereby amended as follows: "10. Once the AMLC Secretariat has processed your Registration, you will receive an email from the AMLC Secretariat informing you whether your Registration has been approved or disapproved, and whether such approval is for a PCOR or a COR. For MSBs, pawnshops and DNFBPs whose Registration has been approved for a PCOR, the AMLC will require compliance with and completion of all other requirements within six (6) months from approval of the PCOR. Otherwise, the PCOR will be cancelled, unless the ED or OIC grants a one-time, non-renewable extension of the period of validity of the PCOR for up to six (6) months upon written request or email therefor, citing justifiable grounds. Requests for extension must be submitted not later than ten (10) working days prior to the expiration of the PCOR. " SECTION 3. Effectivity . This ARI shall take effect immediately following its publication in a newspaper of general circulation. Except as provided herein, all the other provisions of the ARRG shall remain in full force and effect. FOR THE AMLC: (SGD.) MEL GEORGIE B. RACELA Executive Director AMLC Secretariat ATTACHMENT Republic of the Philippines Anti-Money Laundering Council Certification This is to certify that the following are excerpts from AMLC Resolution No. 192 dated 23 November 2018: Subject : Amendments to the Online Registration System of the AMLC Registration and Reporting Guidelines The Council resolved to approve the amendments to the provisions of the Online Registration System (ORS), AMLC Registration and Reporting Guidelines (ARRG), as follows: 1. Guideline No. 5 to be amended as follows: "5. The Secretariat will issue a Certificate of Registration (COR), with the facsimile signature of the AMLCS Executive Director or the Officer-in-Charge, to successfully-registered CPs, upon request. The said COR will be sent via email as a PDF file. Pending issuance by the BSP of the institution code for MSBs and pawnshops, the Secretariat will issue a Provisional Certificate of Registration (PCOR) to the registering MSB or pawnshop, upon their compliance with the requirements stated in Guidelines 1 to 3 hereof. Pending completion by the registering DNFBP of all the requirements stated in Section 48 of ARI (B) No. 1, Series of 2018, the Secretariat will issue a PCOR to the registering DNFBP upon compliance with the requirements stated in Guidelines 1 to 3 hereof, and upon uploading through the AMLC portal in PDF format, of the following requirements: a.) Notarized Deed of Undertaking signed by the officer authorized by the DNFBP's Board of Directors/Partners/Owners, to strictly comply with the requirements, rules and regulations of the AMLC and those issued by the appropriate regulatory, supervisory, professional or other similar authority [Annex B of ARI(B) No. 1], and b.) Notarized Deed of Undertaking signed by the officer of the registering DNFBP who shall be responsible for any violation of the AMLA, as amended, and its Implementing Rules and Regulations [Annex C of ARI(B) No. 1]. The PCOR shall be valid for six (6) months, unless the ED or OIC grants a one-time, non-renewable extension for up to six (6) months upon written request or email therefor, citing justifiable grounds. MSBs, pawnshops, or DNFBPs that have successfully complied with all the requirements for registration may, upon their request, be issued a COR with the facsimile signature of the AMLCS ED or OIC. " 2. Item 10, page 12, to be amended as follows: "10. Once the AMLC Secretariat has processed your Registration, you will receive an email from the AMLC Secretariat informing you whether your Registration has been approved or disapproved, and whether such approval is for a PCOR or a COR. For MSBs, pawnshops and DNFBPs whose Registration has been approved for a PCOR, the AMLC will require compliance with and completion of all other requirements within six (6) months from approval of the PCOR. Otherwise, the PCOR will be cancelled, unless the ED or OIC grants a one-time, non-renewable extension of the period of validity of the PCOR for up to six (6) months upon written request or email therefor, citing justifiable grounds. Requests for extension must be submitted not later than ten (10) working days prior to the expiration of the PCOR. " It is further recommended that the Council approve the: 1. Issuance of the amended Online Registration System as an AMLC Regulatory Issuance (ARI); 2. Authority for the AMLC Secretariat to publish the ARI in a newspaper of general circulation, in the Official Gazette, and to post the same in the AMLC website; 3. Dissemination of the ARI to all covered persons under the respective jurisdictions of the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, and the Insurance Commission; 4. Authority of the ED or OIC to issue the appropriate internal guidelines to execute the foregoing authority; and 5. AMLCS Advisory to all covered persons for posting in the AMLC Website. Issued this 8th day of January 2019 at Manila City. HTcADC (SGD.) MA. RHEA M. SANTOS-MENDOZA AMLC Secretary