May 3, 2019

BSP CIRCULAR NO. 1039-19

SUBJECT : Amendments to the N and P Regulations of the Manual of

Regulations for Non-Bank Financial Institutions

The Monetary Board, in its Resolution No. 514 dated 28 March 2019, approved the following
amendments to the N and P Regulations of the Manual of Regulations for Non-Bank Financial
Institutions, particularly on the requirements for registration of Pawnshops and Money Service
Businesses.
SECTION 1. Section 4511N shall be amended to read, as follows:
"Section 4511N. Money Service Business Operations . — The following rules and
regulations shall govern the operations and reporting obligations of non-bank entities engaged in
remittance, money changing, and/or foreign exchange dealing, pursuant to Section 3 of Republic
Act (R.A.) No. 7653, as amended, [The New Central Bank Act], Section 3, in relation to Section 11,
of R.A. No. 9160, as amended, [The Anti-Money Laundering Act (AMLA) of 2001], Section 3(c) of
R.A. No. 10168 (The Terrorism Financing Prevention and Suppression Act of 2012) and their
implementing rules and regulations, and Section 80 of R.A. No. 7653, as amended (The New
Central Bank Act)."
SECTION 2. Subsection 4511N.1 to Subsection 4511N.3 shall be amended to read, as follows:
"Subsection 4511N.1. Definition of terms . —
a. Remittance and Transfer Companies (RTC) — x x x. This includes the following:
(1) Remittance Agent (RA) — x x x.
(a) Remittance Direct Agent (RDA) — x x x
(b) Remittance Network Provider (RNP) — refers to any entity that provides a
network of Remittance Sub-Agents to perform remittance services to RTC.
(c) Such other similar entities as may be determined by the Monetary Board.
For the purpose of this Section, entities functioning as an RA as herein defined shall be
registered as such, notwithstanding whether they are also acting as Remittance Sub-
Agent (RSA).
xxx xxx xxx
b. Remittance Sub-Agent (RSA) — x x x. This includes x x x.
An RSA shall no longer be required to register with the Bangko Sentral. However, the RTC
shall comply with the notification requirements as provided in Subsection 4511N.3(b).
xxx xxx xxx
h. Branch — refers to any company-owned office or place of business other than the Head Office
of an RTC/MC/FXD.
i. RSA office — for purposes of this Section, it shall be considered as an extension office of an
RTC. It includes the head office and branches of an RSA.
j. Offices — refer collectively to the head office, branches and RSA offices where money
changing/foreign exchange dealing and/or remittance transactions shall be conducted.
Subsection 4511N.2 Requirements for registration. — RTCs/MCs/FXDs x x x. All x
x x.
a. Registration of RTCs/MCs/FXDs. — For registration purposes, RTCs/MCs/FXDs shall be
classified into six (6) categories with the following criteria:
xxx xxx xxx
RTCs/MCs/FXDs shall submit the Application for Registration and Notarized Deed of
Undertaking (Appendix N-8-b-1) to the appropriate supervising department of the Bangko
Sentral.
RTCs/MCs/FXDs shall adhere to the registration procedures contained in Appendix N-8-a.
b. Issuance of Bangko Sentral Certificate of Registration (COR) and Metal Plate. —
RTCs/MCs/FXDs x x x. Within x x x.
xxx xxx xxx.
In considering x x x. In determining x x x.
A metal plate bearing the unique registration number of the RTC/MC/FXD shall be issued to
each RTC/MC/FXD head office. The Bangko Sentral reserves the right to collect reasonable
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 amount to cover the cost of production/issuance of the metal plate.
c. Accreditation of RSAs. — Duly registered RTCs may accredit their own RSAs: Provided, That:
(i) the engagement of RSA's remittance services is directly related to the accomplishment of
RTC's business plan/strategy; and (ii) appropriate risk management policies and procedures
pertaining to the aforementioned engagement are in place.
The RSA shall be considered as part of the network of its accrediting RTC. RSAs are also
subject to effective continuing oversight of their RTCs. RTC shall conduct appropriate due
diligence in the accreditation of its RSAs and shall be responsible for the RSAs' compliance
with all applicable anti-money laundering (AML)/combating the financing of terrorism (CFT)
rules and regulations.
Relative to the engagement of RSA, the policies and procedures, at a minimum, shall contain
the following:
(1) Selection criteria and process in the accreditation of an RSA. The selection criteria
shall take into account, among others, the necessary permits/authorization to perform
the remittance business, and the fitness and propriety of the proprietor, partners,
directors, or principal officers of an RSA. In determining whether a person is fit and
proper, regard shall be given to the following: integrity/probity, market reputation,
competence, and financial capacity;
(2) Regular operational review on RSA's compliance with applicable laws, rules and
regulations, especially on compliance with AML/CFT and consumer protection
requirements and performance in carrying out remittance activities; and
(3) Delisting of an RSA or termination of a remittance contract.
A relationship or remittance arrangement with an RSA shall be supported by a notarized
remittance agreement. The contract shall clearly identify the roles and duties of each party
including, among others, the responsibilities to comply with relevant Bangko Sentral rules and
regulations particularly on AML/CFT and consumer protection requirements. It should also
stipulate therein that the RSA shall allow the Bangko Sentral to have access on the
remittance system, records and other relevant information.
The RTC shall ensure that its RSA offices shall maintain a signage posted conspicuously in
their premises, indicating that the RSA is an accredited agent of the RTC.
d. Mandatory training requirement. — The proprietors, 1 partners, directors, president or officer
of equivalent rank and function, over-all head of the money service business operation and
the head of the compliance unit shall attend a seminar on AML/CFT laws, rules and
regulations, before start of operations, conducted by the Bangko Sentral, Anti-Money
Laundering Council (AMLC), or any reputable training provider. 2
Subsection 4511N.3. Notification requirements . — RTCs/MCs/FXDs shall inform the
appropriate supervising department of the Bangko Sentral of the following events:
a. Commencement of operations. — RTC/MC/FXD shall notify within five (5) business days
from the start of operations of its head office.
b. New offices. — RTC shall submit a list of all its new branches and accredited RSAs on a
monthly basis within five (5) business days from end of the reference month.
c. New/Terminated tie-up partner/s. — RTC shall submit a list of all its new and terminated
local/foreign remittance tie-up partners during the month within five (5) business days
from the end of the reference month.
The relationship or remittance arrangement with the tie-up partner/s shall be supported
by remittance agreement/s which shall be notarized or consularized if originated/signed
abroad. RTC shall ascertain that its tie-up partner is authorized to engage in remittance
business by the appropriate supervising/licensing authority and is compliant with the
AML/CFT laws of the country where it operates. All remittance agreements shall be
made readily available during examination or upon request of the Bangko Sentral
without delay.
xxx xxx xxx"
SECTION 3. Subsections 4511N.6 (a) and 4512N.8 (a) shall be amended to read, as follows:
"Subsection 4511N.6. Reports. —
a. Required reports. — x x x:
(1) Semestral report of operating, and closed/delisted RTC/MC/FXD offices which shall be
submitted within ten (10) business days from the end of the reference semester;
xxx xxx xxx
(4) Quarterly reports on the total value of foreign and domestic remittance transactions
which shall be submitted within ten (10) business days from the end of the reference
quarter.
RTCs/MCs/FXDs shall adhere to the guidelines issued by the Bangko Sentral on the manner
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 of submission of reports in forms as may be determined and required by the Deputy Governor, of
the appropriate sector of the Bangko Sentral.
Subsection 4512N.8. Notification and reporting requirements . —
a. Required reports. — A Virtual Currency (VC) exchange x x x.
In addition, a VC exchange shall maintain records and submit the following reports to the
appropriate supervising department of the Bangko Sentral:

Nature of Report Frequency Due Date

xxx xxx xxx

3. List of Semestral Ten (10)

operating business days
offices and from the end of
websites the reference
semester

A VC exchange shall adhere to the guidelines issued by the Bangko Sentral on the manner of
submission of reports in forms as may be determined and required by the Deputy Governor,
of the appropriate sector of the Bangko Sentral."
SECTION 4. Subsections 4511N.7 and 4512N.7 shall be amended to read, as follows:
"Subsection 4511N.7. Internal control. — RTCs/MCs/FXDs shall maintain an internal
control system commensurate to the nature, size and complexity of their respective businesses.
Subsection 4512N.7. Internal control. — All VC exchanges shall maintain an internal
control system commensurate to the nature, size and complexity of their respective businesses."
SECTION 5. Appendix N-8-a (Registration Procedures for RTC/FXD/MC) and Appendix N-8-b-1
(Deed of Undertaking) shall be amended, as contained in Annex "A" of this Circular.
SECTION 6. Subsection 4103P.1 shall be amended to read, as follows:
"Subsection 4103P.1. Classification of pawnshop operator license . — The x x x:

Type Description

"A" Pawnshop business with not more than

ten (10) offices.

"B" a. Pawnshop business with more than ten

(10) offices; or
b. Pawnshop business with money
changing/foreign exchange dealing.

"C" Pawnshop business with corollary

remittance activity requiring Bangko Sentral
registration, with or without money
changing/foreign exchange dealing.

"D" Virtual x x x.

The Bangko Sentral x x x.

All pawnshop businesses are allowed to act as Remittance Sub-Agents as defined in
Subsection 4511N.1."
SECTION 7. Subsection 4103P.2 shall be amended to read, as follows:
"Subsection 4103P.2 (2016-4101P.5). Mandatory training requirement . — The
proprietors, 3 partners, directors, president or officer of equivalent rank and function, and over-all
head of the pawnshop operation and the head of the compliance unit shall attend, before the start
of operations, a seminar on AML/combating the financing of terrorism (CFT) laws, rules and
regulations, conducted by the Bangko Sentral, AMLC, or any reputable training provider." 4
SECTION 8. Subsection 4142P.2 shall be amended to read as follows:
"Subsection 4142P.2. General qualifications. — Any person can be a proprietor,
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 partner, or director, president or officer of equivalent rank and function, and over-all head of the
pawnshop operation and the head of the compliance unit of pawnshops provided he/she:
a. Must have complied with the AML/CFT training as prescribed under Subsec. 4103P.2;
and
b. Must not be included in the Bangko Sentral Watchlist Files.
An NBI clearance shall also be required for any newly accepted/elected/appointed partner,
director, president or officer of equivalent rank and function, and over-all head of the pawnshop
operation and the head of the compliance unit of pawnshop."
SECTION 9. Subsection 4143P.5 shall be added, to read as follows:
"Subsection 4143P.5. Issuance of Metal Plate . — A metal plate bearing the unique
registration number of the pawnshop head office shall be issued to the pawnshop operator. The
Bangko Sentral reserves the right to collect a reasonable amount to cover the cost of the
production/issuance of the metal plate."
SECTION 10. Subsection 4152P.1 shall be amended to read, as follows:
"Subsection 4152P.1 (2016-4126P.1). Notification. — A pawnshop operator is
allowed to establish and operate more than one (1) pawnshop office: Provided, however, That it
shall be the responsibility of the pawnshop operator to notify the appropriate supervising
department of the Bangko Sentral regarding new pawnshop office/s operated during the month
within five (5) working days from end of the reference month.
Such notification shall include the exact address of the pawnshop office and the starting
date of its actual operations and must be signed by the proprietor/managing partner/president or
an officer of equivalent rank and function."
SECTION 11. Subsection 4691P.1 to Subsection 4691P.3 shall be deleted.
SECTION 12. Appendix P-1 (List of Documentary Requirements to Accompany an Application
for Authority to Operate a Pawnshop Business) shall be amended, as contained in Annex "B" of this
Circular.
SECTION 13. Appendix N-1 (List of Reports Required from Non-Bank Financial Institutions) and
Appendix P-13 (List of Reports Required from Pawnshops) shall be amended, as contained in Annex "C"
of this Circular.
SECTION 14. Effectivity. — This Circular shall take effect fifteen (15) calendar days following its
publication in the Official Gazette or in a newspaper of general circulation in the Philippines.

FOR THE MONETARY BOARD:

(SGD.) DIWA C. GUINIGUNDO

Officer-in-Charge
ANNEX A
APPENDIX N-8-a
Registration Procedures for RTC/MC/FXD
(Appendix to Subsection 4511N.2)
Registration constitutes a two-stage process. Stage 1 is a preliminary screening process for Bangko
Sentral to determine if applicant is eligible for registration. In Stage 2, the eligible applicant is invited to
submit supporting documents to complete the registration process.
A. First Stage
The new applicant shall submit the following for evaluation:
1. Application Letter;
2. Business Plan including target markets; and
3. List of owners/controlling shareholders, directors, and principal officers, as applicable.
B. Second Stage
If the applicant is deemed eligible in Stage 1, the applicant shall be invited to submit a notarized
Application for Registration to Operate a Money Service Business, accompanied by the following documents:
1. Notarized Deed of Undertaking (Appendix N-8-b-1);
2. Compliance with fitness and propriety requirements by the proprietor, partners, directors,
president or officer of equivalent rank and function, and over-all head of the money service
business operation and the head of the compliance unit, as the case may be. For this
purpose, applicants shall be required to submit the following:
a. Personal Data and Authorization Form (Appendix N-8-b-2);
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 b. NBI Clearance, or its equivalent, if issued in foreign jurisdiction; and
c. Proof of attendance to the mandatory training on anti-money laundering/combating the
financing of terrorism.
3. Business license/permit for the current period; 1 and
4. Proof of provisional registration with the Anti-Money Laundering Council Secretariat.

APPENDIX N-8-b-1
REPUBLIC OF THE PHILIPPINES )
_____________ CITY ) S.S.
Deed of Undertaking
I/We (the Proprietor/Partners/Members of the Board of Directors) and key executive officers of
_________________________ (Name of Institution), a legal entity duly authorized to operate under the laws of the
Philippines, with principal place of business at ________________________, by these presents, do hereby obligate
ourselves, individually and collectively, to undertake and ensure:
1. Strict compliance with all the requirements, rules and regulations of the Bangko Sentral
regarding the registration and operations of money service business, as well as the provisions
of Republic Act (R.A.) No. 9160 [The Anti-Money Laundering Act (AMLA) of 2001], as
amended, R.A. No. 10168 (The Terrorism Financing Prevention and Suppression Act of 2012)
and their implementing rules and regulations;
2. Responsibility for any violation of the provisions of R.A. No. 9160 (The AMLA of 2001), as
amended, R.A. No. 10168 (The Terrorism Financing Prevention and Suppression Act of 2012),
and their implementing rules and regulations, and for possible sanctions prescribed under
Section 36 of R.A. No. 7653, as amended, (The New Central Bank Act) and other applicable
laws, rules and regulations;
3. Financial capacity to organize and operate a money service business and full compliance with
the minimum capitalization prescribed under Subsection 4511N.2 of the Manual of
Regulations for Non-Bank Financial Institutions (MORNBFI);
4. Compliance with the requirements on customer due diligence, covered and suspicious
transaction reporting, and record keeping and retention;
5. Development, adoption and dissemination to all employees concerned of a Money Laundering
and Terrorist Financing Prevention Program (MTPP);
6. Exclusive use of bank account/s in the name of the registered entity in its official business
transactions and to provide a certified list of all bank account/s supported by confirmation
from depository bank/s which shall be subject to Bangko Sentral inspection/examination for
anti-money laundering (AML)/combating the financing of terrorism (CFT) purposes;
7. Notification of the appropriate supervising department of the Bangko Sentral within the
prescribed deadline of the following events: (a) commencement of operations; (b) change of
registered/business name; (c) new office/s; (d) new/terminated tie-up partner/s; (e) transfer of
location of office/s; (f) additional money service business; (g) closure of office/s; and (h)
closure of business;
8. Prior approval from the appropriate supervising department of the Bangko Sentral for any
change in ownership or control;
9. Strict compliance with the requirements of maintenance of records and submission of
required reports;
10. Maintenance of an internal control system commensurate to the nature, size and complexity
of the business;
11. Adoption of minimum standards of consumer protection in the areas of disclosure and
transparency, protection of client information, fair treatment, effective recourse and financial
education pursuant to the MORNBFI-N Regulations;
12. Compliance with the applicable provisions of the Information Technology Risk Management
Framework of the MORNBFI-N Regulations;
13. Payment to the Bangko Sentral of the following fees: (a) registration fee; (b) annual service
fee; (c) metal plate; and (d) processing fee for the replacement of Bangko Sentral Certificate
of Registration;
14. Strict compliance with the transactional requirements on the large value pay-outs and the
sale of foreign currencies, and obtaining prior approval from the appropriate supervising
department of the Bangko Sentral before transacting higher limits on the sale of foreign
currencies;
15. Strict compliance with possible monetary sanctions/penalties and other sanctions as
imposed by the Bangko Sentral;
16. Submission of the complete list of our foreign or local counterparties, including their contact
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 details (i.e., business address, contact person and its numbers) (this provision is applicable to
Remittance and Transfer Company [RTC] only);
17. Contracting with counterparty(ies) that is/are licensed/authorized/registered to engage in
remittance business and is/are subject to the AML/CFT laws of the country where it operates
(this provision is applicable to RTC only);
18. Responsibility for the Remittance Sub-Agent's compliance with all applicable AML/CFT laws,
rules and regulations (this provision is applicable to RTC only);
19. Timely renewal of the business permits of all of its offices, which indicate the line of
business, from the city or municipality having territorial jurisdiction over the place of
establishment and operation of the respective offices; and
20. Attendance of the proprietor, partners, directors, president or officer of equivalent rank and
function and head of the money service business operation and the compliance unit to a
seminar on AML/CFT laws, rules and regulations, before start of operations, conducted by the
Bangko Sentral, AML Council Secretariat, or any reputable training provider.
For this purpose, ______________________ [Name of Institution] shall be responsible in
ascertaining whether the external training provider has an adequate track record of
successfully conducting training programs preferably on financial institution-oriented courses
including, but not limited to, AML/CFT training.

Signature over Printed Name of the Designation

Proprietor/All Partners/All Members of
the Board of Directors) and Key
Executive Officers

____________________________ _______________________

____________________________ _______________________

____________________________ _______________________

____________________________ _______________________

____________________________ _______________________

[Insert additional rows, as applicable]

SUBSCRIBED AND SWORN to before me this _______ day of _____________ 20______, affiants exhibiting to
me their government-issued identification cards, as follows:

Name Gov't. ID No. Valid Until

_____________ _____________ _____________

_____________ _____________ _____________

_____________ _____________ _____________

_____________ _____________ _____________

_____________ _____________ _____________

[Insert additional rows, as applicable]

Notary Public
APPENDIX N-8-b-2
Personal Data and Authorization Form
Biographical Data
ANNEX B
APPENDIX P-1
List of Documentary Requirements to Accompany an Application for an Authority to Operate a Pawnshop
Business
(Appendix to Section 4103P)
The notarized Application for an Authority to Operate a new pawnshop business shall be accompanied
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 by the following documents:
1. Notarized Deed of Undertaking (Appendix P-1-a);
2. Compliance with fitness and propriety requirements by the proprietor, partners, directors,
president or officer of equivalent rank and function, and over-all head of the pawnshop
operation and the head of the compliance unit, as the case may be. For this purpose,
applicants shall be required to submit the following:
a. Personal Data and Authorization Form (Appendix P-1-b);
b. NBI Clearance, or its equivalent, if issued in foreign jurisdictions; and
c. Proof of attendance to the mandatory training on anti-money laundering/combating the
financing of terrorism.
3. Business license/permit for the current period; 1 and
4. Proof of provisional registration with the Anti-Money Laundering Council Secretariat.
APPENDIX P-1-a
REPUBLIC OF THE PHILIPPINES)
___________________ CITY) S.S.
Deed of Undertaking
I/We (the Proprietor/Partners/Members of the Board of Directors) and key executive officers of
__________________________ (Name of Institution), a legal entity duly authorized to operate under the laws of the
Philippines, with principal place of business at ____________________, by these presents do hereby obligate
ourselves, individually and collectively, to undertake and ensure:
1. Strict compliance with all the requirements, rules and regulations of the Bangko Sentral
regarding the licensing and operations of pawnshop business as provided under Presidential
Decree (P.D.) No. 114, Manual of Regulations for Non-Bank Financial Institutions (MORNBFI)-
Pawnshop (P) Regulations and other applicable laws, rules and regulations;
2. Full compliance with the minimum capitalization and borrowing limits as prescribed under
Sections 4111P and 4281P of the MORNBFI;
3. Adequate compliance with the provisions of Republic Act (R.A.) No. 9160, as amended [The
Anti-Money Laundering (AML) Act of 2001], R.A. 10168 (The Terrorism Financing Prevention
and Suppression Act of 2012) and their implementing rules and regulations particularly in
conducting customer due diligence procedures, covered and suspicious transaction reporting,
and record keeping and retention;
4. Exclusive use of bank account/s in the name of the licensed entity/pawnshop in its official
business transactions and to provide a certified list of all bank account/s supported by
confirmation from depository bank/s which shall be subject to Bangko Sentral examination for
AML/combating the financing of terrorism (CFT) purposes;
5. Compliance with the disclosure requirement on the entity/pawnshop beneficial owner/s;
6. Full responsibility over its offices'/branches' compliance with all the requirements, rules and
regulations of the Bangko Sentral on matters relating to license, registration and notification
requirements;
7. Submission of all documentary requirements and securing approval from the appropriate
supervising department the Bangko Sentral before effecting the following: (a) transfer of
ownership; (b) change of registered business name; and (c) surrender of pawnshop operator
license due to closure of business;
8. Notification to the appropriate supervising department of the Bangko Sentral within the
prescribed deadline of the following events: (a) commencement of pawnshop operations; (b)
newly-established pawnshop office; (c) transfer/relocation of business; and (d) voluntary
closure of pawnshop office;
9. Strict compliance with the requirements of maintenance of records and submission of
required reports;
10. Maintenance of an internal control system commensurate to the nature, size and complexity
of the business, and development of sound risk management policies and practices to ensure
that risks associated with the operations of a pawnshop business are identified, assessed,
monitored, mitigated and controlled;
11. Adoption of minimum standards of consumer protection in the areas of disclosure and
transparency, protection of client information, fair treatment, effective recourse and financial
education pursuant to Section 4401P, Section 4402P and Subsection 4195P.4 of the MORNBFI,
as may be applicable;
12. Hiring, and/or engaging the services of external auditors/auditing firm, who will assist in the
preparation, and/or rendering an opinion on the fairness of the pawnshop's financial
statements, and that the external auditors/audit firm contracted are included in the Bangko
Sentral List of Selected External Auditors for Supervised and/or Regulated Institutions, as may
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 be applicable based on the type of pawnshop license granted;
13. Attendance of the proprietor, partners, directors, president or officer of equivalent rank and
function and head of the pawnshop operation and the compliance unit to a seminar on
AML/CFT laws, rules and regulations, before start of operations, conducted by the Bangko
Sentral, AML Council Secretariat or any reputable training provider.
For this purpose, _______________________ [Name of Institution], shall be responsible in
ascertaining whether the external training provider has an adequate track record of
successfully conducting training programs preferably on financial institution-oriented courses
including, but not limited to, AML/CFT training;
14. Timely renewal of the business permits of all of its offices, which indicate the line of
business, from the city or municipality having territorial jurisdiction over the place of
establishment and operation of the respective offices; and
15. Responsibility over violations of any of the aforementioned laws, rules and regulations,
subject to the applicable sanctions prescribed under Sections 36 and 37 of R.A. No. 7653, as
amended, in relation to Section 17 of P.D. No. 114.

Signature over Printed Name of the Designation

Proprietor/All Partners/All Members of
the Board of Directors) and Key
Executive Officers

_______________________ ____________________

_______________________ ____________________

_______________________ ____________________

_______________________ ____________________

_______________________ ____________________

[Insert additional rows, as applicable]

SUBSCRIBED AND SWORN to before me this ____ day of _______________ 20___, affiants exhibiting to me
their government-issued identification cards, as follows:

Name Gov't. ID No. Valid Until

_______________ _______________ _______________

_______________ _______________ _______________

_______________ _______________ _______________

_______________ _______________ _______________

_______________ _______________ _______________

[Insert additional rows, as applicable]

Notary Public
APPENDIX P-1-b
Personal Data and Authorization Form
Biographical Data
ANNEX C
APPENDIX N-1
List of Reports Required From Non-Bank Financial Institutions
(Appendix to Sec. 4162N)
Category Form No. MOR Report Title Frequency Submission Submission
Ref. Deadline Procedure
xxx

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 A-2 4511N List of Semestral 10 Appropriate
operating, and business days supervising
closed/delisted after end of department of the
RTC/MC/FXD offices reference Bangko Sentral
semester

xxx

A-2 4511N Reports on the -do- 10 -do-

total value of foreign business days
and domestic after end of
remittance reference
transactions quarter

xxx

APPENDIX P-13
List of Reports Required from Pawnshops
(Appendix to Subsection 4191P.2)
Category Form No. MOR Report Title Frequency Submission Submission
Ref. Deadline Procedure

xxx

A-2 Unnumbered 4191P List of operating and 10 Appropriate supervising department

closed Pawnshop business of the Bangko Sentral
offices 1 Semestral days
after end
of
reference
semester

Footnotes
1. Refer to owner of single proprietorship MSBs.

2. Refers to an entity which has an adequate track record of successfully conducting training programs
preferably on financial institution-oriented courses, including AML/CFT training. For this purpose, the
RTC/MC/FXD shall be responsible in ascertaining whether the training provider is reputable as herein
defined.
3. Refer to owner of single proprietorship pawnshops.

4. Refers to an entity which has an adequate track record of successfully conducting training programs
preferably on financial institution-oriented courses, including AML/CFT training. For this purpose, the
Pawnshop shall be responsible in ascertaining whether the training provider is reputable as herein
defined.
ANNEX A

1. The entity name, business address and activity(ies) indicated therein should be consistent with the business
registration with the DTI/SEC/CDA, as applicable. The details in said business permit shall be used as
basis in the issuance of Certificate of Registration.

ANNEX B

1. The entity name, business address and activity(ies) indicated therein should be consistent with the business
registration with the DTI/SEC, as applicable. The details in said business permit shall be used as basis in
the issuance of Certificate of Authority.
ANNEX C

1. The appropriate supervising department of the Bangko Sentral shall issue the submission guidelines and
prescribed reporting template for this report.

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