Cancellation of Registration as Foreign Exchange Dealer/Money Changer of Lady Diamond Foreign Exchange Service
BSP Circular Letter No. CL-2023-061 • Securities and Exchange Commission • Circular Letters • Oct 23, 2023
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October 23, 2023 BSP CIRCULAR LETTER NO. CL-2023-061 TO : All Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions SUBJECT : Cancellation of Registration as Foreign Exchange Dealer/Money Changer of Lady Diamond Foreign Exchange Service The Monetary Board, in its Resolution No. 1414.A dated 22 September 2022, has approved the cancellation of registration of LADY DIAMOND FOREIGN EXCHANGE SERVICE (Lady Diamond FX) as foreign exchange dealer (FXD)/money changer (MC) pursuant to Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI), given the non-compliance with Republic Act No. 9160 (The Anti-Money Laundering Act of 2001), as amended, and its Revised Implementing Rules and Regulations (RIRR), Section 601-N, in relation to Part 9 of the MORNBFI, Section 901-N of the MORNBFI, and for violation of its Deed of Undertaking as money service business. The Monetary Board, in its Resolution No. 1167 dated 07 September 2023, denied with finality the request for reconsideration of Lady Diamond FX on the cancellation of its registration to operate as FXD/MC. HTcADC For information and guidance. (SGD.) CHUCHI C. FONACIER Deputy Governor
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