Tag: pmla

PMLA-Banks, financial institution to send client KYC records to Central Registry within 10 days

PMLA-Banks, financial institution to send client KYC records to Central Registry within 10 days. the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2018 Under sub rule (1A) of Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, every reporting entity ( banking company, financial institution, intermediary or …

Obligations of Securities Market Intermediaries under PMLA – SEBI Master Circular

Guidelines on Anti-Money Laundering Standards and Combating the Financing of Terrorism. Obligations of Securities Market Intermediaries under PMLA MASTER CIRCULAR SEBI/HO/MIRSD/DOS3/CIR/P/2018/104                                                   July 04,2018 To, All Intermediaries registered w ith SEBI under Section 12 of the Securities and Exc hange Board of India Act, 1992. (Through the stock exchanges for …

Constitutional Validity of second proviso of section 5(1) of PMLA upheld by High Court

Constitutional Validity of second proviso of section 5(1) of PMLA upheld.  Failure to disclose “reasons to believe” would be the entire proceedings illegal-High Court  Prelude: The offence of money-laundering is defined under Section 3 PMLA. The punishment is prescribed under Section 4 PMLA. The expression “proceeds of crime” …
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