Regulatory Alerts2015-12-18
Added · Updated
Securities Industry (Anti Money Laundering and Countering the Financing of Terrorism) Rules, 2015
These rules impose anti-money laundering and counter-terrorist financing obligations on regulated persons under the Securities Industry Act, 2011. Regulated entities must appoint senior personnel and a Money Laundering Reporting Officer, implement risk rating frameworks, and verify customer identities before establishing relationships or processing occasional cash transactions exceeding $15,000. The rules specify detailed verification requirements for natural persons, corporate customers, partnerships, trusts, and foundations, while mandating record keeping and ongoing monitoring of high-risk activities.