India: BSE seeks anti-money laundering compliance details from brokers

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 June 9 2017

BSE has asked stock brokers to submit the details on training programmes for their staff with respect to anti-money laundering and combating financing of terrorism, for the past three fiscals, by June 19. Amid the crackdown on shell companies, the Finance Ministry has sought detailed information with respect to stock brokers in order to understand their compliance levels in terms of norms pertaining to curb money laundering and terror financing activities. Information has been sought with respect to “Anti-Money Laundering and Combating Financing of Terrorism (AML and CFT) areas to assess the technical compliance with the global FATF recommendations and effectiveness of AML/CFT systems.“