SEBI issues Circular on Guidelines on Anti-Money Laundering Standards and Combating the Financing of Terrorism and Obligations of Securities Market Intermediaries

Oct 17, 2019 | by Avantis RegTech Legal Research Team


The Securities and Exchange Board of India (SEBI) on October 15, 2019, has issued a Master Circular laying down guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) and obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 (PMLA) and Rules. The said guidelines will be applicable to all intermediaries registered under Section 12 of the Securities and Exchange Board of India Act, 1992.

SEBI has updated the guidelines in the context of recommendations made by Financial Action Task force (FATF) on anti-money laundering standards pursuant to the amendments made to the PMLA and Rules. 

The Master Circular lay down guidelines related to the following:

1. Overview on the background and essential principles that concern combating Money                    Laundering (ML) and Terrorist Financing (TF) and,

2. A detailed account of the procedures and obligations to be followed by all registered                    intermediaries to ensure compliance with AML and CFT directives.

This Master Circular shall supersede the earlier Master Circular on AML and CFT dated July 04, 2018.

[SEBI/ HO/ MIRSD/ DOP/ CIR/ P/ 2019/113]

 


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