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Sebi releases updated list of entities, individuals under UNSC sanctions

The UNSC recently updated its sanctions list with entities and individuals related to ISIL (Da’esh) and Al-Qaida. Sebi in a circular also shared a list of amended entries as mentioned in a UNSC press release.Premium
The UNSC recently updated its sanctions list with entities and individuals related to ISIL (Da’esh) and Al-Qaida. Sebi in a circular also shared a list of amended entries as mentioned in a UNSC press release.

  • Registered intermediaries have to continuously scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals on the list

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NEW DELHI: Markets regulator, the Securities and Exchange Board of India (Sebi), on Friday informed market intermediaries about the updated list of entities and individuals under the United Nations Security Council (UNSC) sanctions.

The UNSC recently updated its sanctions list with entities and individuals related to ISIL (Da’esh) and Al-Qaida. Sebi in a circular also shared a list of amended entries as mentioned in a UNSC press release.

As per Sebi norms, registered intermediaries have to ensure that accounts are not opened for anyone whose name appears in the updated list of individuals and entities subject to various sanctions such as freezing of assets/accounts, denial of financial services etc., as approved by the Security Council Committee established under various United Nations' Security Council Resolutions (UNSCRs).

Registered intermediaries have to continuously scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals on the list.

The regulator has also advised brokers, depositories, the Association of Mutual Funds in India (Amfi) and registered intermediaries to circulate the press release to respective members, participants, asset management companies (AMCs) for necessary compliance.

Sebi has asked market stakeholders to, “scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list and ascertain the same for future accounts as well, as per Clause 2.8.1 of Sebi “Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) / Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules."

For individuals, groups, undertakings or entities seeking to be removed from the Security Council’s ISIL (Da'esh) and Al-Qaida Sanctions List, Sebi said that, as per instructions from the Ministry of Home Affairs, they can submit their request for delisting to an independent and impartial Ombudsperson who has been appointed by the United Nations Secretary-General.

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