MORNBFI Vol. 1 - Planters Development Bank

APP. Q-3811.12.31or instruction directly to the custodian todeliver the confirmation reports to aperson/entity named therein.Sec. 10. Right of the Securities Owner toSell his Securities. Subject to therequirements of existing laws andregulations, securities owners shall havethe right to choose the best buyers of hissecurities in the secondary market,without limiting himself to the originalselling or dealing bank that he transactedwith. The securities seller or dealer shallnot impose any condition that will impairthis right of the securities owner or leavehim no alternative except to sell hissecurities exclusively to the selling ordealing bank.Sec. 11. Undelivered Securities. Incases where banks or NBFIs under BSPsupervision maintain custody of securitieswhich were sold prior to the effectivityof Circular No. 457 dated 14 October2004 to clients who are unable orunwilling to take delivery of saidsecurities pursuant to the provisions ofCircular No. 392 dated 23 July 2003 butwho declined to deliver their existingsecurities to a BSP-accredited third partycustodian, said banks/FIs shall:a. report on a quarterly basis to theappropriate department of the SES thevolume of said securities broken downinto maturity dates, type of security, ISINor applicable certificate or referencenumber, and registry; andb. ensure that said securities undercustody are segregated from theirproprietary holdings.Sec. 12. Compliance with the Anti-MoneyLaundering Act of 2001. For purposes ofcompliance with the requirements ofR.A. No. 9160, otherwise known as the“Anti-Money Laundering Act of 2001”, asamended, particularly the provisionsregarding customer identification,recordkeeping and reporting of suspicioustransactions, a BSP-accredited custodianmay rely on referral by the seller/issuer ofsecurities, in lieu of the face-to-face contactwith client, subject to the followingconditions:a. the seller/issuer is also a coveredinstitution;b. the seller/issuer certifies to thecustodian that it has performed its own KYCscreening on the client;c. the custodian has unchallengedaccess to the KYC records/documents ofthe referring seller/issuer pertaining to thereferral client;d. the custodian maintains a record ofthe referral together with the minimuminformation/documents required under thelaw and its implementing rules andregulations; ande. the seller/issuer must provide thecustodian with the following minimuminformation/documents:For individual clients:1. Name;2. Present address;3. Permanent address;4. Date and place of birth;5. Nationality;6. Nature of work and name of employeror nature of self-employment/business;7. Contact numbers;8. Tax identification number, SSSnumber or GSIS number;9. Specimen signature; and10. Source of fund(s);For corporate clients:1. Articles of Incorporation/Partnership;2. By-laws;3. Official address or principalbusiness address;4. List of directors/partners;Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-38 - Page 3