Sebi, FIU to share intelligence on money laundering

Other areas of cooperation include conducting training and outreach programs as well as upgrading skills of those entities that Sebi regulates

Stock market regulator, the Securities and Exchange Board of India (Sebi) is set to share intelligence on money laundering with the central agency for monitoring suspect financial transaction; the Financial Intelligence Unit-India (FIU-IND).

Sebi signed a Memorandum of Understanding on the same on May 02, according to a statement on the regulator's website.

Other areas of cooperation under the MoU include laying down reporting procedure under the Prevention of Money Laundering (PML) Rules, conducting training and outreach programs as well as upgrading skills of those entities that Sebi regulates.

Along with complying with each others' obligations as per applicable international standards; it also includes 'assessment of Anti-Money laundering/Combating Financing of Terrorism (AML/CFT) risks and vulnerabilities in the capital market sector' and 'identification of red flag indicators for Suspicious Transaction Reports (STRs) in the capital market sector.'

 

The MoU was signed between R.K. Agarwal (Whole Time Member, Sebi) and Praveen K Tiwari, (Director, FIU-IND) at the Sebi Northern Regional Office in New Delhi.