The Securities and Exchange Commission (SEC) has directed all entities falling under its jurisdiction to strictly adhere to the Anti-Money Laundering Council’s (AMLC) resolution pertaining to individuals designated as terrorists by the Anti-Terrorism Council.
Recently, the AMLC issued a freeze order on the funds and assets of eight individuals who have been tagged as terrorists.
Among the names on the list are Cordillera activists Sarah Abellon Alikes, also known as Sara Abellon/Sara Alikes/Tina/Kaylie/Kylie; Jennifer R. Awingan, also known as Jennifer A Taggaoa/Klara/Leni/Aw; Windel Balag-ey Bolinget, also known as Tunged; Stephen Ambucay Tauli, also known as Steve/Amber/Husto/Teban; Jovencio Sannadan Tangbawan, also known as Jonas/Dexter; May Rodriguez Vargas-Casilao, also known as Gab/Yam/Mic-mic; Hafida Romato Maute, also known as Kadija Maute/Khadeejah Hamal/Dra/Tahera; and Nahara Khairiya Sittie Hamim.
Taking heed of these developments, the SEC has issued a formal communication to all its covered entities, urging prompt submission of suspicious transaction reports to the AMLC.
This requirement extends to all previous transactions involving the aforementioned designated persons, organizations, associations, or groups of individuals. A strict deadline of five days from receipt of the sanctions freeze order has been set for compliance.
Furthermore, the SEC has strongly reminded its covered entities that any form of direct or indirect association with property or funds that are known or reasonably believed to be owned or controlled by the eight individuals may lead to severe legal consequences, with full prosecution being pursued.
SEC covered entities encompass a diverse range of institutions in the financial sector, including securities brokers and dealers, investment houses, underwriters of securities, government securities eligible dealers, investment companies/mutual funds, investment company advisers, mutual fund distributors, REIT fund managers, financing companies, and lending companies.