SEBI Directs Stock Exchanges to Comply with ‘Weapons of Mass Destruction Act, 2005′
- Blog|News|Company Law|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 28 April, 2023
Latest from Taxmann
Circular No. SEBI/HO/MIRSD/MIRSD-SEC-5/P/CIR/2023/062, dated 26.04.2023
The SEBI has directed stock exchanges (SEs) and registered intermediaries (RIs) to comply with the ‘Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005. This Act aims to prevent financing related to weapons of mass destruction and their delivery systems.
Accordingly, stock exchanges and registered intermediaries must maintain a list of designated individuals or entities and update it without delay. Further, SEs and RIs are required to verify if the particulars of the entities/individual, and party to the financial transactions, match with the particulars of the Designated List.
In case of a match, stock exchanges and registered intermediaries shall not carry out such transaction and shall immediately inform the transaction details with full particulars of the funds, financial assets or economic resources involved to Chief Nodal Officer without delay.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
