February 18, 2021 12:45PM onwards
SPEAKER: MR. FERMIN A. STA TERESA JR.
Senior Vice President Business Development Sector,
Topic: “Pag-IBIG Fund Acquired Assets Opportunities for Real Estate Brokers”
SPONSOR Eulice Garcia, Broker Network Officer
PH1 WORLD DEVELOPERS
The Amendments to Certain Provisions of the 2018 Implementing Rules and Regulations of the AMLA was published in the Philippine Star on 30 January 2021.
On January 29, 2021, President Rodrigo Roa Duterte signed into law Republic Act No. 11521 propounding the Anti-Money Laundering Law to include as Covered Persons the Real Estate Brokers and recopying the definition Real Estate Broker enunciated in Real Estate Service Act (RESA). Republic Act No. 11521 will create a scenario wherein those in illegal practice of real estate service will be outcaste and only those registered and licensed real estate brokers will be in limelight. RESA should be strictly implemented and make its way to align with RA 11521. While waiting for the IRR of this law, all must be aware and mandatorily enforce the RESA that ONLY Registered and Licensed Real Estate Brokers are ALLOWED TO PRACTICE.
Salient Features of Republic Act No. 11521:
1. New State Policy: To extend cooperation in the implementation of targeted financial sanctions related to terrorism, proliferation of weapons of mass destruction and their financing.
2. New covered persons: real estate developers, real estate brokers, offshore gaming operators, and offshore gaming operator service providers;
3. Covered transaction for real estate transaction: (cold) cash transactions in excess of P7.5M.
4. New predicate crimes: violations of Section 254 of the National Internal Revenue Code, and Section 9(a)(3) of the Strategic Trade Management Act;
5. New powers of the AMLC: apply for search and seizure orders and subpoena, implement targeted financial sanctions related to proliferation of weapons of mass destruction and its financing, and manage frozen, preserved and forfeited assets.
This year’s pilot virtual episode of REBAP Global City General Membership Meeting held on January 21, 2021 was attended by its vibrant Certified REBAP Brokers. Our invited Speakers delivered their best talks on real estate forecast and fortune that really awaits and excites the members more. 2021 REBAP National Board Chair Emily Q. Duterte, President Vivianne D. Castro, NB Sigmund Estreba, LMP Chapter CRBs and our allied partners in the industry were also present. Thank you very much on behalf of our Chapter…see you again next month for another exciting virtual event.
The 2020 REBAP National Board of Trustees is cordially inviting all Certified Real Estate Brokers nationwide to join its 1st ever REBAP VNGMM 2020. This event marks the next big thing for the organization to adjust to its activities under this new normal environment. Learn from their invited distinguished speaker of our time as he talks about changing the landscape of our profession in this challenging times. Dont miss itsee you all CRBs. See ads for details
CRB EMILY Q. DUTERTE Chairman of the Board
CRB BENEVICI D. CASTRO National President
CRB MARGARET D. GAW VP for Internal Affairs
CRB MARY MARGARET A. MAGCALAS VP for External Affairs
CRB EVELYN A. ESPARDINEZ VP for Finance
CRB RANDIJAY D. UY VP for MIS
CRB ARMANDO JIM O. ORDOÑEZ JR Secretary General
CRB LOUELLA E. LARANANG National Treasurer
CRB DAISY P. VILLAOS National Auditor
CRB MICHAEL M. AGOT National P.R.O.
CRB MARY NYRE DAWN S ALCANTARA
CRB EDWIN B. CALAMBA
CRB ESMERALDA P. DAVID
CRB JIMMY H. NACINO
CRB ROI MARC A. TEODORO