On Apr. 4, 2025, PHI FIU issued advisory to covered persons on re-registration under CORS on or before Apr. 29, 2025, which is the end of the one-year transition period.
Failure to re-register within the prescribed period may result in access limitations to the portal and could impact reporting compliance status, as the registration and reporting systems will have transitioned to an 18-digit institution code format.
On Apr. 23, PHI FIU advised on deactivation of registration system.
PHI FIU said Online Registration System will be inaccessible from Apr. 25 to 28, to give way to the execution of some needed adjustments prior to the effectivity of the CORS.
Per PHI FIU resolution no. 76 dated Apr. 8, 2024, in which it approved and adopted the new Guidelines on compliance optimization and registration system (CORS).
Apr. 29, 2024 Guidelines Published
On Apr. 29, 2024, PHI FIU published Guidelines on compliance optimization and registration system; effective immediately on publication in newspaper, requisite filing.
These guidelines (of Apr. 16, 2024) shall assist covered persons in complying with the required PHI FIU registration via a streamlined procedure and reduced requirements.
Section 3 of guidelines lists numerous covered persons that shall register with PHI FIU.
Includes banks, quasi-banks, trust entities, forex dealers; persons supervised or regulated by PHI INS, persons supervised/regulated by PHI SEC like securities dealers.
Guidelines also include other provisions, including on consequences of not complying.
May 3, 2024 PHI SEC Notice
On May 3, 2024, PHI SEC disseminated PHI FIU's regulatory issuance on the adoption of CORS, which aims to assist covered persons in complying with PHI FIU registration.
Reminded covered entities must register with PHI FIU using online registration system.
May 29, 2024 PHI INS Advisory
On May 29, 2024, PHI INS disseminated PHI FIU's regulatory issuance on the adoption of CORS, and required PHI INS-regulated entities to update their respective accounts.
In Jun. 2024, PHI SEC issued notice re registration on PHI FIU's portal, see #215543.
Apr. 2025 Re-Registration Deadline
On Apr. 4, 2025, PHI FIU issued advisory to covered persons on re-registration under CORS on or before Apr. 29, 2025, which is the end of the one-year transition period.
Failure to re-register within the prescribed period may result in access limitations to the portal and could impact reporting compliance status, as the registration and reporting systems will have transitioned to an 18-digit institution code format.
Regulators
PHI FIU; PHI INS; PHI SEC
Entity Types
B/D; Corp; Ins; MSB
Reference
Adv 4/4/2025; Adv RS-2024-011, 5/29/2024; Nt 5/3/2024; PR 4/29/2024; PR 4/23/2024; Gd 1/2024, 4/16/2024; Res 74, 4/8/2024
