Practice question
A business provides nominee-shareholder arrangements and registered-office services to third-party companies. It claims it is outside AMLA because it never forms companies or manages client cash. Analyze the listed covered-person activities.
Legal references
- RA 9160, Section 9(a)-(b), customer identification and recordkeeping: https://lawphil.net/statutes/repacts/ra2001/ra_9160_2001.html
- RA 10365, Sections 1 and 7, covered persons and reporting amendments: https://lawphil.net/statutes/repacts/ra2013/ra_10365_2013.html
- RA 10927, casino coverage and casino covered-transaction threshold: https://lawphil.net/statutes/repacts/ra2017/ra_10927_2017.html
- RA 11521, amended covered-person and covered-transaction provisions: https://lawphil.net/statutes/repacts/ra2021/ra_11521_2021.html
- RA 12312, Sections 8 and 17, Anti-POGO Act AMLA amendment: https://lawphil.net/statutes/repacts/ra2025/ra_12312_2025.html
Answer this question in flashcards to review your response and continue practicing.