सिंहदरबार संवाददाता
Kathmandu. The Securities and Exchange Board of Nepal has issued guidelines on targeted financial actions for participants in the securities market. The board has stated that it has issued guidelines on targeted financial actions for participants in the securities market in accordance with Sub-rule (3) of Rule 69 of the Anti-Money Laundering Regulations, 2081.
The said guidelines, which are published on the website of the Government of Nepal, Ministry of Home Affairs, will have to be made public whether the transaction involves a person, group or organization listed in the United Nations sanctions list. Similarly, the securities market participant must establish a regularly updated system to verify whether the person, group or organization associated with it is in the transaction data or not.
Based on that data, if any property or fund of any listed person, group or organization or any other person, group or organization associated with it is in his possession, the guidance states that such property or fund should be immediately frozen. Securities market participants must comply with the provisions related to the prevention of financial investment in terrorist acts or the production and expansion of weapons of mass destruction while conducting their operations.
The guidance provides for reporting to the Financial Intelligence Unit regarding suspicious persons related to the prevention of financial investment in terrorist acts or the production and expansion of weapons of mass destruction.
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