Anti-Money Laundering Act of 2001, RA 9160: Explainer
“Covered Institution” refers to: 1) Banks, non-banks, quasi-banks, trust entities, and all other institutions and their subsidiaries and affiliates supervised or regulated by the Bangko Sentral ng Pilipinas (BSP); 2) Insurance companies and all other institutions supervised or regulated by the Insurance Commission; and 3) (a) Securities dealers, brokers, salesmen, investment houses and other similar…