Search Result for : Kyc Norms

The Dollar Business Bureau Taking the proposals kept before the board in meetings, the Securities and Exchange Board of India issued stern KYC and disclosure rules for participatory notes. Offshore Derivatives Instruments issuers will now have to identify and verify the Beneficial Owners in subscriber entities holding threshold more than permissible limits, which is 25% in case of companies and 15% in partnership firms. The issuers have also been asked to verify the people who control the operations, when BO are not in accordance with the above mentioned criteria of threshold, said SEBI. The market regulator, considering the transfers of ODIs, stated that the intermediate transfers during the month will now have to be reported. Earlier, the details of ODI holders had to be reported ...

Dated July 7, 2015 | Copy of | Notification No.4/2015 | In exercise of the powers conferred by sub-section (1) read with clauses (i), (j), (jj), (jjj) and (k) of subsection (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2013), the Central Government in consultation with the Reserve Bank of India hereby makes the following rules further to amend the Prevention of Money-laundering (maintenance of Records) Rules, 2005, namely:- 1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2015. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005,- (a) in ...

Dated March 25, 2015 | RBI/2014-15/514 | A.P. (DIR Series) Circular No. 88 | Know Your Customer (KYC) Norms / Anti Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obligations under Prevention of Money-laundering Act (PMLA), 2002 - Money Transfer Service Scheme (MTSS) Attention of Authorised Persons (APs), who are Indian Agents under Money Transfer Service Scheme (MTSS) is invited to the A.P. (DIR Series) Circular No. 10 dated July 21, 2014 on the captioned subject read with A.P. (DIR Series) Circular No. 68 dated January 28, 2015 on AML/CFT standards. 2. It has been decided that henceforth, Foreign Exchange Department shall not issue the instructions to the APs who are Indian Agents under Money Transfer Service ...