SEBON Enforces New AML and Counter-Terrorist Financing Directive
Summary
SEBON has brought into effect a new directive to prevent money laundering and terrorist financing in Nepal’s securities market. The regulator says the measure will strengthen compliance and systematize the duties of reporting entities under existing law.
Key Points
- SEBON has implemented the Directive on Prevention of Money Laundering and Financing of Terrorist Activities, 2083.
- The directive aims to regulate reporting entities in Nepal’s securities market and prevent money laundering and terrorist financing.
- It was introduced under the Asset (Money Laundering) Prevention Act, 2064 and took effect on Ashwin 30, 2083.
- SEBON has asked concerned institutions to ensure effective implementation and made the directive available on its website.
