SEBI proposes mandatory AML certification for intermediaries’ principal officers
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓SEBI proposed mandatory anti-money laundering certification for principal officers at all registered intermediaries.
- ✓Officers must clear the NISM-Series-XXIV exam to ensure a common knowledge benchmark for handling suspicious transactions.
- ✓Existing officers get six months to complete this requirement after it starts.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Securities and Exchange Board of India (SEBI) has proposed making an anti-money laundering (AML) and countering the financing of terrorism (CFT) certification mandatory for principal officers of all SEBI-registered intermediaries.
Under the proposal, principal officers will have to clear the NISM-Series-XXIV: Anti-Money Laundering and Combating the Financing of Terrorism Provisions in Securities Markets Certification Examination, conducted by the National Institute of Securities Markets (NISM).
SEBI has proposed that existing principal officers complete the certification within six months of the issuance of the requirement. Newly appointed officers will get six months from the date of their appointment. They will also have to maintain a valid certification throughout their tenure.
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