INTRODUCTION

The Securities and Exchange Board of India (‘SEBI’), through its Master Circular dated June 06, 2024, issued ‘Guidelines on Anti-Money Laundering (“AML”) Standards and Combating the Financing of Terrorism (“CFT”)/ Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002,’ (“Master Circular/2024 Guidelines”),[1] emphasising the need for stricter AML/ CFT measures in the securities market, given global efforts against drug trafficking, terrorism, and other serious crimes. The 2024 Guidelines supersede the SEBI AML/ CFT Guidelines of February 03, 2023 (“2023 Guidelines”),[2] strengthening the obligations of market intermediaries and aligning with international standards from the Financial Action Task Force (“FATF”).Continue Reading Expanding the Regulatory Framework: Deep dive into SEBI’s new AML/CFT guidelines