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.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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DECREE NO 777

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That, by Legislative Decree No. 498 dated 02 December 1998, published in Official Journal No. 240, Volume N ° 341, 23 of the same month and year, the "MONEY LAUNDERING AND ASSETS LAW" was issued.

II.-That, the purpose of the Special Law is to prevent, detect, punish and eradicate the Crime and Money Laundering Crime, and related crimes, as well as its cover-up, which is applicable to any natural person or

law of the Court of Law No 568 of 16 January 2014, which was published in Official Journal No 09 of 16 January 2014, was published in the Official Journal of the European Communities, and was published in the Official Journal of the European Communities.

passage]

passage from the press] [passage from the press] [passage from the press] [passage from the press] [passage from the press]. Article 52 of the "UNITED NATIONS CONVENTION AGAINST CORRUPTION", an international instrument ratified by El Salvador, by Legislative Decree No. 325 of 20 May 2004, published in the Official Journal No. 119, Volume No. 363 of June 28, 2004, which acquired the character of Law and appears to be of a normative rank higher than the secondary legislation, as provided by Art. 144 of the Constitution of the Republic.

V.-What, in accordance with the provisions of the instrument of ratification of that Convention of 25 June 2004, published in Official Journal No. 131, Volume 364, on July 14 of the same year, formally assumed the firm commitment to comply and to carry out the stipulations contained therein.

VI.-What, the responsibilities of the described legal norms, are applicable to all subjects required by the Law Against Money Laundering and Assets, even if they are with an emphasis on banks and financial institutions, exchange houses and stock exchanges.

VII.-What, for the reasons In the past, it becomes necessary to issue new reforms to the Anti-Money Laundering Law and

BY TANTO,

in use of its Constitutional powers and at the initiative of the Deputy José Antonio Almendariz Rivas.

DECRETA the following:

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ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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REFORMS TO THE MONEY LAUNDERING AND ASSETS LAW

Art. 1.-Reform Art. 9-B, as follows:

" Art. 9-B.-The obligated subjects, especially those listed in Art. 2 of this Law, shall establish an internal due diligence policy for the identification of their users or clients. Under the Regulation of this Law, the obligated subjects must institute an internal policy that is self-sufficient and with intensified diligence for the identification of politically exposed persons, whether domestic or foreign, as well as the the identity of any other natural or legal person on whose behalf they act, requiring their clients to provide up-to-date and supplementary information on that condition.

Each person who is politically exposed shall be understood to be Article 236 and 239 of the Constitution of the Republic, Art. 2 "a", "b" and "c" and Art. 52 of the United Nations Convention Against Corruption. "

Art. 2.-Reform the literal (e) of Art. 10, as follows:

" e) Adopt, under the terms provided for in Art. 9-B of this Law and in accordance with the Regulations of this Law, policies, rules and mechanisms of conduct to be observed by its administrators, officials and employees, consisting of: "

Art. 3.-This Decree shall enter into force eight days after its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at twenty-one day of the month of August of the year two thousand fourteen.

OTHON SIGFRIDO REYES MORALES, PRESIDENT.

ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ FRANCISCO MERINO LÓPEZ, LORENA GUADALUPE PEÑA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE-PRESIDENT.

CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, MANUEL VICENTE MENJÍVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.

SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.

IRMA LOURDES PALACIOS VÁSQUEZ, ERNESTO ANTONIO ANGULO MILLA, FIFTH SECRETARY. SIXTH SECRETARY.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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FRANCISCO JOSÉ ZABLAH SAFIE, JOSÉ SERAFIN ORANTES RODRÍGUEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

CASA PRESIDENTIAL: San Salvador, two days of the month of September of the year two thousand fourteen.

PUBESQUIESE,

Salvador Sánchez Cerén, President of the Republic.

Benito Antonio Lara Fernández, Minister of Justice and Public Security.

D. O. No. 163 Took No. 404 Date: September 4, 2014

SV/geg 24-09-2014

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