SEBI Proposes AML Certification for Market Intermediary Officers
The Securities and Exchange Board of India has proposed mandatory certification for principal officers of market intermediaries. The aim is to make sure these officers have the expertise to spot suspicious transactions and assess money-laundering risks. They would also need to meet their reporting duties under the AML/CFT framework.
Context
AML stands for anti-money laundering and CFT means countering the financing of terrorism. Market intermediaries such as brokers must report suspicious deals, and SEBI, India's market regulator, sets these rules.
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