SECP vide SRO 56(I)/2020 (dated January 28, 2020) issued draft amendment to the Anti Money Laundering and Countering Financing of Terrorism Regulations 2018 for public comments. The amendments propose to direct the securities brokers, futures brokers, insurance companies, takaful operators, Non-Banking Finance Companies (NBFCs) and Modarabas to identify beneficial owners of investments and source of funding, and use technological solutions for screening of designated/proscribed persons, ongoing monitoring of transactions and reporting of suspicious transactions.

The draft amendments can be accessed on following link: https://www.secp.gov.pk/document/s-r-o-56i-2020- amendments-in-aml-regulations-2018/?wpdmdl=38233

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