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TMI BlogAnti Money Laundering (AML) Standards/Combating Financing of Terrorism (CFT)/Obligations of Securities Market Intermediaries under Prevention of Money Laundering Act, 2002 and Rules framed there-under.X X X X Extracts X X X X X X X X Extracts X X X X ..... igations of Securities Market Intermediaries under Prevention of Money Laundering Act, 2002 and Rules framed there-under. Dear Sir / Madam, 1. SEBI, vide Master Circular No. ISD/AML/CIR-1/2008 dated December 19, 2008, issued consolidated requirements/obligations to be fulfilled by all registered intermediaries with regard to AML/CFT. In addition to the obligations contained in the Master Circular, following are the additional requirements to be fulfilled or the clarifications with regard to existing requirements: a. The illustrative list of Clients of Special Category (CSC) as contained in the existing clause 5.4 (Page 16-17 of the Master Circular) shall be read as under: i. Non resident clients, ii. High net-worth clie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b. The following line is added in the existing clause 9.2 (Page 25 of the Master Circular): The background including all documents/office records /memorandums/clarifications sought pertaining to such transactions and purpose thereof shall also be examined carefully and findings shall be recorded in writing. Further such findings, records and related documents should be made available to auditors and also to SEBI /Stock Exchanges/FIU-IND/Other relevant Authorities, during audit, inspection or as and when required. These records are required to be preserved for ten years as is required under PMLA 2002. c. The existing clause 10.2 (h) (Page 27 of the Master Circular) shall be read as: Unusual transactions by CSCs and businesses unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eshold limit envisaged for predicate offences specified in part B of Schedule of PMLA, 2002, should file STR if they have reasonable grounds to believe that the transactions involve proceeds of crime. g. The following line is added in the existing clause 12.1 (Page 30 of the Master Circular): The Principal Officer shall have* access to and be able to report to senior management above his/her next reporting level or the Board of Directors. 2. An updated list of individuals and entities which are subject to various sanction measures such as freezing of assets/accounts, denial of financial services etc., as approved by Security Council Committee established pursuant to various United Nations' Security Council Resolutions (UNSCR ..... X X X X Extracts X X X X X X X X Extracts X X X X
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