October 13, 2020
SEC MEMORANDUM CIRCULAR NO. 29-20
| TO | : | All SEC Covered Persons |
| SUBJECT | : | 2020 Guidelines on the Submission and Monitoring of the Money Laundering and Terrorist Financing Prevention Program (MTPP) |
WHEREAS, SEC Memorandum Circular No. 16, Series of 2018 or the 2018 Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions (hereinafter referred to as the "2018 AML/CFT Guidelines") require all SEC Covered Institutions, as defined therein, to revise their Money Laundering and Terrorist Financing Prevention Programs (hereinafter referred to as the "MTPP");
WHEREAS, under the 2018 AML/CFT Guidelines, the revised MTPPs are required to be submitted to the Commission through the Operating Departments having supervision over such Covered Institutions, copy furnished the Anti-Money Laundering Division of the Enforcement and Investor Protection Department (AMLD-EIPD), within six (6) months from the effectivity of the said guidelines;
WHEREAS, the 2018 AML/CFT Guidelines became effective on 23 November 2018, thus, the deadline for the submission of the revised MTPPs fell on 23 May 2019;
WHEREAS, the revision of the MTPPs refers to the revision of the...
