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Adopted: 25 March 2015
Date Filed: 01 April 2015
Pursuant to the power of the Insurance Commissioner to issue AML/CFT Guidelines and Circulars, which necessarily includes the power to repeal/ amend the same, under Rule 17.b of Revised Implementing Rules and Regulations of Republic Act No. 9160, as amended, the second (2^nd) paragraph of Circular Letter No. 2015-05 dated 05 February 2015, with subject: “Submission of the Names and Contact Details of AMLA Compliance Officer and Alternate Compliance Officer”, is hereby amended to read, as follows:

“ In accordance therein, all entities named herein are required to submit through a letterthe name, telephone number, cellphone number, and email address of their respective AMLA compliance officer and alternate compliance officer both with at least a rank of manager, with attached Secretary’s Certificate, for Corporation/Partnership, or Appointment Letter, for Single Proprietorship, appointing/designating the AMLA compliance officer and alternate compliance officer,within thirty (30) days from the date of this Circular Letter.”

In view of the amendments, all entities named herein are given thirty (30) days from the date this amendatory Circular Letter to submit their compliance with the forgoing requirements. Otherwise, non-compliant entities shall be meted by the Commission with a penalty amounting to Five Thousand Pesos (PhP5,000.00) per day of delay in the submission of the same.

All submissions should be sent to Atty. Jorge S. Brania, Chairperson of the Working Group on Anti-Money Laundering under the Office of the Deputy Commissioner for Legal Affairs, in the meantime that no Anti-Money Laundering Division has been constituted by the IC.

All Circular Letters previously issued by the Commission which are inconsistent herewith shall be deemed amended or modified accordingly.

For strict compliance.

(SGD) EMMANUEL F. DOOC
Insurance Commissioner