The Hindu Business Line : Check UN list for suspicious entities, SEBI tells intermediaries

Mumbai, Sept. 1 SEBI has directed registered intermediaries to immediately inform it of suspicious accounts of individuals or entities who are subject to various sanction measures and figure on the updated United Nations list.

The updated list of individuals and entities who are subject to various sanction measures such as freezing of assets and accounts as well as denial of financial services can be accessed from the United Nations Web site, a SEBI circular issued on Tuesday said.

“Full details of accounts bearing resemblance with any of the individuals/entities in the list should immediately be intimated to SEBI and FIU-IND (Financial Intelligence Unit),” SEBI said.

Further, registered intermediaries have been directed to continuously scan all accounts to ensure that no account is held by or linked to any entities or individuals included in the updated UN list.

SEBI has also directed the registered intermediaries to file suspicious transaction report if they believe that the transactions involve proceeds of crime, irrespective of the amount of transaction and/or the threshold limit.

SEBI also directed the stock exchanges and depositories to inform their member-brokers and depository participants to verify compliance during inspections and take appropriate action under their respective regulations in case of any contravention.

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