SECP rescinds AML/CFT reporting requirements

News Image

MG News | April 19, 2019 at 05:40 PM GMT+05:00

0:00

April 19, 2019: Securities and Exchange Commission of Pakistan (SECP) on Friday rescinded the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) reporting requirements prescribed vide circulars 8, 9 and 10 of 2017 as well as the direction 1 of 2017.

These AML/CFT reporting requirements have been replaced by the reporting framework prescribed under SECP’s SRO 245 (I)/2019 dated February 22, a press release said.

SRO 245 (I)/2019 lays down a comprehensive reporting mechanism in line with the Financial Action Task Force recommendations and SECP AML/CFT Regulations, 2018.

It has strengthened reporting from the regulated persons, including; securities brokers, futures brokers, insurers, takaful operators, non-banking finance companies (NBFCs) and modarabas as required under the rescind circulars.

Pursuant to the SRO 245 (I)/2019, the regulated persons are required to submit annual risk and compliance assessment reports and six monthly information/data to the SECP to demonstrate adequacy and effectiveness of AML/CFT compliance framework.

Furthermore, compliance report on the UN Security Council resolutions is to be submitted within three day of receiving the intimation from the SECP.

(APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 18, 2025 at 07:21 PM GMT+05:00

Pakistan strengthens UK trade links


July 18, 2025 at 05:36 PM GMT+05:00

Pakistan, China set to advance agricultural innovation


July 18, 2025 at 05:10 PM GMT+05:00

PSX Closing Bell: Riding High, Ending Low



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg