INSUBCONTINENT EXCLUSIVE:
New Delhi: Markets regulator Sebi has asked stock brokers, depositories, mutual fund houses and other market intermediaries to ensure strict
compliance with the prevention of unlawful activities law
In a statement, Sebi advised market intermediaries to ensure compliance with instructions pertaining to UAPA or The Unlawful Activities
In addition, the regulator has asked market entities to ensure that accounts are not opened in the name of anyone whose name appears in
updated list of individuals and entities linked to Taliban and Al-Qaida issued by the United Nation's Security Council
"Scan all existing accounts to ensure that no accountant is held by or linked to any of the entities or individuals included in the list
and also ascertain the same for future accounts," the Securities and Exchange Board of India (Sebi) said in a statement issued on Tuesday
Also, the market intermediaries have been asked to comply with anti-money laundering guidelines and obligation for combating terrorism
Under anti-money laundering guideline and obligation for combating terrorism financing, Sebi has directed all intermediaries to ensure that
"accounts are not opened in the name of anyone whose name appears in updated list of individuals and entities which are subject to various
sanction measures such as freezing of assets/accounts, denial of financial services etc, approved by the security council committee
established pursuant to various United Nations' Security Council Resolutions"
The statement comes after the Ministry of External Affairs has forwarded a notification issued by United Nations' Security Council
Committee concerning ISIL (Da'esh), Al-Qaida, and associated individuals, groups, undertakings and entities regarding changes in the list of
individuals and entities.
