As a follow-up to our newsletter last May:
"Self-regulation Program under the Anti-Money Laundering Act", we let you know you that, to access the self-regulation program, the deadline to send the application is next August 15th, 2019, and it must be filed via the Internet Money Laundering Portal System (SPPLD).
The self-regulation program contemplates the following:
• The self-regulation program covers the period from July 1, 2013, to December 31, 2018.
• Only those who are in the registry of obliged subjects for the Anti-Money Laundering Law may access the program. Likewise, they must be up-to-date in the fulfillment of their obligations (in Anti-Money Laundering Law matters) for the year 2019 and not committed a crime under this Law.
• The SAT will not fine for non-compliance periods, as long as the self-regulation program is fulfilled in its entirety, that is, correcting all irregularities and breaches of vulnerable activities.
According to article 17 of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, some of the activities to report are:
• Gambling, contests, and raffles
• Credit or service cards, prepaid cards
• Traveler’s checks
• Loans or credits, with or without guarantee
• Construction, development, or marketing services on real estate.
• Marketing of precious stones and metals, jewelry and watches
• Auction and commercialization of works of art
• Distribution and commercialization of all types of vehicles (land, sea, air)
• Armoring services (vehicles and real estate)
• Transportation and custody of money or securities
• Provision of professional services independently, without employment relationship:
− Purchase or sale of real estate or transfer of rights over these
− Administration and management of resources, values or any other asset of their customers
− Management of bank accounts, savings or securities
− Organizing capital contributions or any other type of funds for the constitution, operation, and administration of commercial companies.
− Constitute, separate, merge, operate and administrate legal entities or corporate vehicles, including trusts and the purchase or sale of commercial entities
• Personal rights of use and enjoyment of real estate
• Attestation by public notaries
− Transmission or constitution of real property rights
− Granting of powers for acts of administration or domain of irrevocable nature
− Creation of legal entities and modification of their assets
− Creation or modification on domain transfer trusts or guarantee on real estate
− Granting of mutual or credit agreements, with or without guarantee
• Attestation by public brokers
− Appraisals on assets
− Constitution of commercial legal entities, and their patrimonial modification
− Constitution, modification or assignment of trust rights
− Granting of mutual, business agreements or commercial loans
• Receiving donations from non-profit organizations
• Provision of foreign trade services
− Vehicles
− Gambling and gaming machines
− Equipment and materials to produce payment cards
− Bulletproofing materials
− Jewelry, watches, metals and precious stones
− Works of art
According to a criterion of the corresponding authority, it has been established that labor outsourcing activities must be reported within the concept of independent professional services regarding the administration and resource management.
If you have any questions or comments, we highly recommend contacting your lawyers for advice on the compliance of these provisions, as well as requesting the self-regulation, if applicable.
