Learn all about the registration of Regulated Entities before the FIU.

It is vital to understand the registration process before the Financial Investigation Unit (FIU) of the Attorney General’s Office of the Republic of El Salvador. Our attorney, Adalicia Torres, provides guidance on this process:

“The regulated entities, must carry out the registration process,” comments our lawyer from the Regulatory Department of Torres Legal.

In this regard, Adalicia states that the natural person acting as the obliged subject must initiate the process, while, in the case of legal entities, this responsibility falls on the legal representative.

What is the procedure for registering a regulated entity with the FIU?

First, access the FIU website at www.uif.gob.sv and select the tab “registration of regulated entities”. Then, the registration form must be downloaded to become familiar with, the information requested and the system requirements; the corresponding guide can be consulted to understand the steps to be followed.

“Then, one proceeds to complete the electronic form in the system, including the obligated subject information form and the affidavit. Subsequently, a user name and password will be sent to the registered e-mail address, allowing access to the UIF portal at www.uif.gob.sv”, explains Adalicia.

Once the portal is accessed, the information to register the compliance officers and deputy compliance officers, as well as the compliance officers and deputy compliance officers, if any, must be completed. In addition, the required documentation must be uploaded to comply with the Instructions for the Prevention, Detection and Control of Money Laundering and Financing of Terrorism.

What documentation must be uploaded to the Financial Investigation Unit portal?

The following documentation must be uploaded in the Compliance Officer Requirements section:

– Certification of the point of minutes of the board of directors or corresponding body that establishes the creation of Compliance Officer.

– Certification of the point of the minutes of the board of directors that designates the compliance officer and alternate compliance officer, as well as the compliance officer and alternate compliance officer.

– Compliance manual for the prevention of money laundering, asset laundering, financing of terrorism and proliferation of weapons of mass destruction approved.

– Approved annual work plan of the Compliance Officer.

– Annual training program for the prevention of money laundering, financing of terrorism and proliferation of weapons of mass destruction.

– Explanatory document on the existence of a computerized or automated system to carry out risk analysis in a timely and effective manner.

– Document explaining the system or software that allows the audit of the processes in the prevention of money laundering, financing of terrorism and proliferation of weapons of mass destruction.

What is the procedure for the registration of lawyers, notaries, accountants and auditors before the FIU?

The registration of lawyers, notaries, accountants and auditors is through www.uif.gob.sv and you must select the tab “registration of regulated entities”. Then, the registration guide is consulted and the corresponding category is selected: lawyer, notary, accountant or auditor.

“The relevant electronic form for the selected category will be completed.
Subsequently, a username and password will be received in the registered email, which will be used to access the portal www.uif.gob.sv, where the information will be updated as necessary,” Adalicia indicates.