November 7, 2018
SEC MEMORANDUM CIRCULAR NO. 16-18
| TO | : | All SEC Covered Institutions |
| SUBJECT | : | 2018 Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions ("2018 AML/CFT Guidelines") |
The Securities and Exchange Commission ("SEC," "Commission"), in conformity with the provisions of Republic Act No. 9160 (Anti-Money Laundering Act of 2001), as amended, its Revised Implementing Rules and Regulations (RIRR), Republic Act No. 10168 (Terrorism Financing Prevention and Suppression Act of 2012), its Implementing Rules and Regulations, and taking into consideration international best practices in the implementation and enforcement of the Anti-Money Laundering (AML) and the Combating the Financing of Terrorism (CFT) regimes, hereby issues this "2018 Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions" ("2018 AML/CFT Guidelines").
SECTION 1. All covered institutions as defined in this 2018 AML/CFT Guidelines are required to amend their respective Money Laundering and Terrorist Financing Prevention Program (MLPP) to conform to the attached 2018 AML/CFT Guidelines.
SECTION 2. All covered institutions shall, within six (6) months from the effectivity of these Guidelines, submit...
