AML or CFT Guidelines Amendment for Securities Intermediaries

Last updated: 18 October 2023

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The Securities and Exchange Board of India (SEBI) has issued a circular amending the Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT). These amendments are in response to the Government of India's notification of the Prevention of Money-laundering (Maintenance of Records) (Second Amendment) Rules, 2023. The updated rules came into effect on September 4, 2023.

CIRCULAR
SEBI/HO/MIRSD/SEC-FATF/P/CIR/2023/0170 October 13, 2023

To,

1. All Intermediaries registered with the Securities and Exchange Board of India under Section 12 of the Securities and Exchange Board of India Act, 1992
2. Stock Exchanges

Dear Sir/Madam,

Subject: Amendment to 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 and Rules framed there under

1. Please refer to the Master Circular reference number SEBI/HO/MIRSD/MIRSDSEC-5/P/CIR/2023/022 dated February 03, 2023 and amendments thereto dated June 16, 2023 on the captioned subject issued by the Securities and Exchange Board of India (SEBI).

2. The Government of India has notified Prevention of Money-laundering (Maintenance of Records) (Second Amendment) Rules, 2023, which is published in the Official Gazette on September 4, 2023 (Notification G.S.R. 652(E)). The said amendments came into force on the date of its publication i.e. with effect from September 4, 2023.

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FAQ :

The circular concerns amendments to the Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) for Securities Market Intermediaries.

It is addressed to all intermediaries registered with the Securities and Exchange Board of India (SEBI) and to Stock Exchanges.

The amendments are a result of the Government of India notifying the Prevention of Money-laundering (Maintenance of Records) (Second Amendment) Rules, 2023.

The amendments came into force on September 4, 2023, the date of their publication in the Official Gazette.