SEBON tightens anti-money laundering rules for stock market
Summary
SEBON has issued a stricter anti-money laundering directive for Nepal’s stock market, requiring investors who transact Rs 1 million or more to disclose the source of funds and making suspicious transactions subject to faster reporting. The new rules also expand identity checks, registration requirements, and monitoring of high-ranking officials and their relatives.
Key Points
- SEBON issued the Anti-Money Laundering and Countering the Financing of Terrorism Directive, 2083, tightening stock market compliance rules.
- Investors making transactions of Rs 1 million or more must disclose the source of funds, and suspicious transactions must be reported quickly to the Financial Information Unit.
- The directive requires national ID cards, biometric verification, and stricter monitoring of high-ranking officials and their relatives.
- Analysts say the measures align with existing laws and international standards as Nepal remains on the grey list for money laundering.
