Regulatory Alerts2024-11-12
Cancellation of Registration as Money Changer/Foreign Exchange Dealer of UNO FOREX INCORPORATED
The Bangko Sentral ng Pilipinas issued a circular letter announcing the cancellation of UNO FOREX INCORPORATED's registration as a Money Changer and Foreign Exchange Dealer. This action was approved by the Monetary Board pursuant to Resolution No. 923.A dated August 8, 2024, due to the entity's serious violations of the Manual of Regulations for Non-Bank Financial Institutions and the Anti-Money Laundering Act. The directive serves as official notice to all BSP-supervised financial institutions regarding this regulatory enforcement measure.
Classification: GENERAL OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-____ To : ALL BANGKO SENTRAL NG PILIPINAS (BSP)-SUPERVISED FINANCIAL INSTITUTIONS Subject : Cancellation of Registration as Money Changer/Foreign Exchange Dealer of UNO FOREX INCORPORATED The Monetary Board, in its Resolution No. 923.A dated 08 August 2024, approved the cancellation of the BSP registration of UNO FOREX INCORPORATED as Money Changer/Foreign Exchange Dealer, pursuant to Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI), in view of its serious violations of: (a) Section 601-N of the MORNBFI, in relation to Part 9 of Q Regulations of the MORNBFI and Republic Act No. 9160 (Anti-Money Laundering Act of 2001), as amended, and its Revised Implementing Rules and Regulations; and (b) Section 901- N of the MORNBFI. For information and guidance. CHUCHI G. FONACIER Deputy Governor 12__ November 2024