AMLA
Turn around time for covered Transaction Reporting (CTR)
What is 5 working days?
This tool covers advice on local licensing requirements, prohibitions and condition (if any) applicable to financial services. It provides an answer to the following question: In order to market and/or make available a product or service to a client located in another jurisdiction (the target jurisdiction), does an offshore HSBC entity require a banking or other license in the target jurisdiction? “
What is Cross Border Tool?
The is the form that needs to be fulfilled when purchasing foreign currencies.
What is the Application to Purchase (ATP)?
Tool used to log your Outside Activities
What is Employee Conduct Activities (ECA) Tool
Name of the two departments that merged to form a One Compliance Function
What are Regulatory Compliance and Financial Crime Compliance?
These are the 3 stages of Money Laundering.
What are placement, layering, and integration?
It is the notice period for changes in the Terms and Conditions
What is 60 days?
Time a person should be residing in the Philippines to be considered as a resident.
What is 1 year or longer?
Minimum frequency of attention on your Personal Account Dealings (PAD)
What is annually?
Name a regulator of HSBC.
What is Bangko Sentral ng Pilipinas (BSP) / Hong Kong Monetary Authority (HKMA)?
This is the local regulatory body created in pursuant to RA 9160 or the Anti Money Laundering Act of 2001 to protect the integrity of bank accounts and to ensure that the Philippines will not be used as money laundering site for the proceeds of any unlawful activity.
What is the Anti Money Laundering Council?
Fly in and fly out are two types of Cross Border Marketing and Sales activities. This is the third type.
What is a Reach In?
An individual citizen of the Philippines residing therein.
What is a Resident?
Give an example of types of Conflicts per Conflict of Interest policy.
What are Worker vs. Worker, HSBC vs. HSBC, HSBC vs. client, client vs. client?
Current Head of Compliance Philippines
Who is Shane Godwin?
The most recent predicate crime added to the AML Act
What is tax evasion?
This is the local regulation to be considered when reviewing marketing materials.
What is Consumer Protection Act?
It is the compilation of regulation on Foreign Exchange.
What is Manual of Regulations on Foreign Exchnage Transactions (MORFXT)
Type of assciation that is out of scope of the Outside Activity policy.
What are PTA, home owners, rotary club, hobbies, public activities?
This team performs investigations on alerts from our TM systems and those referred manually via Unusual Activity Reports (UAR).
What is External Investigative Reporting (EIR) Team?
The board members of the Anti Money Laundering Committee (AMLC)
Who are the Governor of the Bangko Sentral ng Pilipinas (BSP), Commissioner of the Insurance Commission (IC), and the Chairman of the Secuirties and Excahnge Commission (SEC)
What law or regulation is being addressed when a local HBAP MNL employee chaperones a foreign HSBC colleague in client meetings onshore.
What is Doing Business in the Philippines without a license?
Type of document that evidences foreign investments or foreign loans in the Philippines.
What is BSP Registered Document (BSRD)?
Investments that are allowed and no longer requires to be registered in GPAD.
What are UITFs, Mutual funds, VUL?
Philippines Country Sanction Officer
Who is Ogie Mercado?