Regulatory Alerts2018-04-06
Guidelines on Implementation of Targeted Financial Sanctions Relating to Proliferation Financing for Capital Market Intermediaries
The Securities Commission Malaysia issued these guidelines to mandate that capital market intermediaries implement targeted financial sanctions related to proliferation financing in compliance with United Nations Security Council resolutions. Intermediaries are required to maintain updated sanctions databases, conduct immediate customer screening, and freeze or reject assets associated with designated persons without delay. The document further stipulates strict reporting obligations, requiring immediate notification to the Commission upon freezing actions and periodic updates on frozen assets, alongside the submission of suspicious transaction reports to the Financial Intelligence and Enforcement Department.
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