SEBI has made Amendments to Prevention of Money-laundering (Maintenance of Records) Rules, 2005.
Recently SEBI has notified Prevention of Money - laundering (Maintenance of Records) Second Amendment Rules, 2017 (PML Second Amendment Rules) on June 01, 2017 making the Aadhaar number and Permanent Account Number (PAN) mandatory for both new and existing accounts with the financial market intermediaries including securities market intermediaries.
The Stock Exchanges and Depositories are accordingly directed to bring the provisions of this circular to the notice of the Stock Brokers and DPs; make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision in co-ordination with one another; monitor the compliance of this circular through half-yearly internal audits and inspections; and communicate to SEBI, the status of the implementation of the provisions of this circular.
Further, in case of Mutual Funds, compliance of this circular shall be monitored by the Boards of Asset Management Companies and the Trustees and in case of other intermediaries by their Board of Directors.
Recently SEBI has notified Prevention of Money - laundering (Maintenance of Records) Second Amendment Rules, 2017 (PML Second Amendment Rules) on June 01, 2017 making the Aadhaar number and Permanent Account Number (PAN) mandatory for both new and existing accounts with the financial market intermediaries including securities market intermediaries.
The Stock Exchanges and Depositories are accordingly directed to bring the provisions of this circular to the notice of the Stock Brokers and DPs; make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision in co-ordination with one another; monitor the compliance of this circular through half-yearly internal audits and inspections; and communicate to SEBI, the status of the implementation of the provisions of this circular.
Further, in case of Mutual Funds, compliance of this circular shall be monitored by the Boards of Asset Management Companies and the Trustees and in case of other intermediaries by their Board of Directors.
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