Regulatory Alerts2018-04-12
Regulation of the Financial Market Council on Practical Measures for Combating Money Laundering, Countering Terrorism Financing and Preventing the Proliferation of Weapons
The Tunisian Financial Market Council has issued this regulation to establish practical due diligence measures for combating money laundering, countering terrorism financing, and preventing the proliferation of weapons. It mandates stock exchange intermediaries and portfolio management companies to verify client identities, identify beneficial owners, screen against terrorist and targeted sanctions lists, and apply enhanced monitoring to high-risk persons and unusual transactions. The regulation further standardizes record-keeping, third-party reliance procedures, electronic transfers, and cash receipt limits to ensure consistent compliance across the financial sector.
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