SEBI releases list of individuals & entities under UN Security Council sanctions

The market regulator in a public order also shared a list of entries.

Markets regulator, the Securities and Exchange Board of India (SEBI), on Friday informed market intermediaries about the updated list of entities and individuals under the United Nations Security Council (UNSC) sanctions.

Recently the security council updated its sanctions list added more individuals and entities who have allegiance to terrorist organisations ISIL (Daesh) and Al-Qaeda. In a similar way, the market regulator in a public order also shared a list of entries as mentioned in the security council press release.

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As per SEBI norms, registered intermediaries must ensure that accounts are not opened in the name of those who were mentioned in the updated list of individuals and entities subject to various sanctions such as freezing of accounts, denial of financial services as approved by the Security Council committee established under various United Nations Security Council Resolutions (UNSCRs).

SEBI has asked these intermediaries to continuously check and scan all their existing and new accounts so that no account is held or linked to such individuals or entities in the list as per Clause 2.8.1 of  SEBI Act, 1992, “Guidelines on Anti- Money laundering Standards and Combating Finance of Terrorism (CFT) / Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules.”

The market regulator has also advised brokerage firms, depositors and the regulatory body for mutual funds Association of Mutual Funds in India (AMFI) to circulate the press release to its respective members, participants and asset management companies for necessary actions if someone involves in these activities.