Reform The Arts. 9-B And 10 Of The Law Against The Laundering Of Money And Of Assets, Referred To The Policy For Identification Of Users And Customers.

Original Language Title: Refórmase los Arts. 9-B y 10 de la LEY CONTRA EL LAVADO DE DINERO Y DE ACTIVOS, referidos a la política para identificación de usuarios y clientes.

Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformanse-los-arts.-9b-y-10-de-la-ley-contra-el-lavado-de-dinero-y-de-activos/archivo_documento_legislativo

1. Decree No. 777, the Legislative Assembly of the Republic of EL SALVADOR: I.-who, through Legislative Decree N ° 498, dated 02 December 1998, published in the official journal N ° 240, volume N ° 341, of the 23rd of the same month and year, issued the "law against the laundering of money and assets."
II.-that the purpose of such special law is to prevent, detect, punish and eradicate the crime of laundering of money and assets, and related offences, as well as the cover-up; same it is applicable to any natural or legal person, even if the latter is not constituted legally.
III.-that, by means of Legislative Decree N ° 568, date 05 December 2013, published in the official journal N ° 09, volume N ° 402, January 16, 2014, were issued amendments to the mentioned regulatory body.
IV.-that, in article 9-B, paragraph two of the Act against the laundering of money and assets, omitted to mention the article 52 of the "Convention of the Nations United against the corruption", international instrument ratified by El Salvador, through Legislative Decree N ° 325, of May 20, 2004, published in the official journal N ° 119 Taking N ° 363, on June 28, 2004, which acquired the character of law and it turns out to be normative senior secondary legislation, such as provided for in article 144 of the Constitution of the Republic.
V that, in accordance to what is expressed in the instrument of ratification of the said Convention, of June 25, 2004, published in the official journal N ° 131, vol. 364, 14 July of that same year, formally assumed commitment comply with and carry out the provisions hereof.
VI. that, under legal norms described responsibilities, are applicable to all subjects required by the Act against the laundering of money and assets, even if they are with an emphasis to banks and financial institutions, exchange houses and stock.
VII.-that, for the reasons previously given, becomes necessary to issue new reforms to the law against the laundering of money and assets.
Therefore, use of his constitutional powers and at the initiative of the Deputy José Antonio Almendáriz Rivas.
DECREES the following: 2 reforms to LA law against the laundering of money and of assets Art. 1.-reforming article 9-B, in the following manner: "Art. 9-B-obligors, especially those listed in article 2 of this law, shall establish an internal policy of due diligence for the identification of their users or customers." Obligors must be instituted, based on the regulation of this law, a reliable internal policy intensified diligently for the identification of politically exposed persons, whether national or foreign, as well as the identity of any other natural or legal person whose name Act, requiring its clients updated and additional information about this condition.
Politically exposed person, there will be understood all of that subject which is covered in the Arts. "236 and 239 of the Constitution, Art. 2, literal"a","b"and"c"and article 52 of the Convention of the United Nations against corruption."
Article 2.-reformed the literal e) article 10, as well: "e) adopt, under the terms provided for in article 9-B of this law and in accordance with the regulations under this law, policies, rules and mechanisms of behavior that will observe its managers, officers and employees, consistent in:" article 3.-the present Decree shall enter into force eight days after its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, at twenty-one days of the month of August two thousand fourteen year.
OTHON SIGFRIDO REYES MORALES, PRESIDENT.
ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, SENIOR VICE PRESIDENT. SECOND VICE PRESIDENT.
JOSE FRANCISCO MERINO LÓPEZ, LORRAINE GUADALUPE PENA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE PRESIDENT.
CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.
WILLIAM FRANCISCO MATA BENNETT, MANUEL VICENTE MENJIVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.
SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.
IRMA PALACIOS LOURDES VASQUEZ, ERNESTO ANTONIO ANGLE MILE, FIFTH SECRETARY. SIXTH SECRETARY.

3 FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN RODRIGUEZ ORANTES, SEVENTH SECRETARY. EIGHTH SECRETARY.
Presidential House: San Salvador, to the two days of the month of September in the year two thousand fourteen.
PUBLISHED, Salvador Sanchez Ceren, President of the Republic.
Benito Antonio Lara Fernandez, Minister of Justice and public security.
D. o. No. 163 volume no. 404 date: on September 4, 2014, SV/geg 24-09-2014 legislative index