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ARTICLE · 19 SEPTEMBER 2024

Enhanced Anti-Money Laundering/terrorist Financing Compliance Guidelines For Registered Intermediaries

JSA Advocates & Solicitors
JSA Advocates & Solicitors
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SEBI, vide master circular dated June 6, 2024, has issued the guidelines on Anti-Money Laundering ("AML") Standards and Combating the Financing of Terrorism...

IndiaGovernment, Public Sector
Dheeraj Nair
Dheeraj Nair
Divyam Agarwal
Divyam Agarwal
Madhurima Mukherjee
Madhurima Mukherjee
Probir Roy Chowdhury
Probir Roy Chowdhury
Sajai Singh
Sajai Singh
Shivpriya Nanda
Shivpriya Nanda
Soumitra Majumdar
Soumitra Majumdar
Tony Verghese
Tony Verghese
Varghese Thomas
Varghese Thomas
+1 more
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SEBI, vide master circular dated June 6, 2024, has issued the guidelines on Anti-Money Laundering (“AML”) Standards and Combating the Financing of Terrorism (“CFT”)/Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 (“PMLA”) (“PMLA Guidelines”). The PMLA Guidelines stipulate the essential principles for combating Money Laundering (“ML”) and Terrorist Financing (“TF”) and provide detailed procedures and obligations to be followed and complied with by all the registered intermediaries. The PMLA Guidelines will also apply to the branches of stock exchanges, registered intermediaries and their subsidiaries situated abroad, especially, in countries which do not apply, or insufficiently apply, the recommendations made by the FATF. The PMLA Guidelines outline the following key points:

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