June 15, 2016

AMLC RESOLUTION NO. 48-16

Acting on the Memorandum dated 8 June 2016 of the Legal Services Group of the Anti-Money Laundering Council Secretariat, the Council resolved to:

1. Amend AMLC Resolution No. 10, Series of 2013 to Include in the list of 'no or low-risk' transactions "payment of dividends or interest on investments", the reporting of which may be deferred, provided, however, that the principal investment was previously reported; and

2. Request the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, and the Insurance Commission to disseminate the Resolution to all covered persons under their respective jurisdictions.

(SGD.) AMANDO M. TETANGCO, JR.
Chairman
(Governor, Bangko Sentral ng Pilipinas)

(SGD.) TERESITA J. HERBOSA
Member
(Chairperson, Securities and Exchange Commission)

(SGD.) EMMANUEL M. DOOC
Member
(Commissioner, Insurance Commission)