SEBI Modifies the AIF Norms to Align the Same With Amended PMLA Rules
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- By Chetan Kulasri
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- Last Updated on 15 January, 2024
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Circular SEBI/HO/AFD/PoD1/CIR/2024/2, Dated 11.01.2024
Earlier, the Govt. has amended the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 whereby the threshold limit for determining the beneficial ownership has been revised. Therefore, the respective changes have been made in the master circular on AIFs. Further, in case an investor who has already been on-boarded to the AIF scheme, who doesn’t meet the revised condition the manager of AIF shall not draw down any further capital contribution until the investor meets the condition.
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