close

Exchanges must comply with Weapons of Mass Destruction Act: Sebi

In addition, they will have to keep a check and prevent financial transactions with individuals and entities in the designated list

Press Trust of India New Delhi
SEBI, SECURITIES AND EXCHANGES BOARD OF INDIA

Listen to This Article

Capital markets regulator Sebi on Wednesday asked stock exchanges and intermediaries to comply with the rules, which deal with the prevention of financing related to weapons of mass destruction and their delivery systems.

Under this, stock exchanges and intermediaries will have to maintain a record of designated persons, according to a Sebi circular.

In addition, they will have to keep a check and prevent financial transactions with individuals and entities in the designated list.

Further, they have been asked to immediately inform about such transactions to Chief Nodal Officer and file a suspicious transaction report with FIU-IND (Financial Intelligence Unit - India).

This came after the Ministry of Finance issued an order in January detailing the procedure for implementation of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act (WMD Act).

The Act bans funding of weapons of mass destruction and also empowers the Centre to freeze, seize or attach financial assets and economic resources of people engaged in such activities.

Also Read

Kim Jong-un wants North Korea to make more nuclear material for bombs

UN votes to press countries to stop terrorists from getting nuclear weapons

India condemns recent intercontinental ballistic missile launch by N Korea

North Korea launches ballistic missile toward eastern waters: Seoul

MoS IT launches Grievance Appellate Committee to ensure safe internet

Maoists strike big in poll-bound Chhattisgarh, 119 cops killed in 5 years

Women in India face challenges in protecting their IPR: Justice Hima Kohli

Ayurveda, Allopathy doctors not performing same work to get equal pay: SC

Agency can't file charge sheet without completing probe to deny bail: SC

PM Modi thanks Aus counterpart for hosting Quad security summit in May

Earlier, the regulations only banned the manufacture of weapons of mass destruction.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Apr 26 2023 | 11:42 PM IST

Explore News