Amendments to Prevention of Money-Laundering (Maintenance of Records Rules, 2005)



Notice No.: 20180419-32                                                                                                   Notice Date: 19th April 2018
Category Compliance                                                                                                        Segment General

Subject: Amendments to Prevention of Money-Laundering (Maintenance of Records Rules, 2005)

This is with reference to the communication from SEBI regarding Amendments to Prevention of Money-laundering (Maintenance of Records) Rules, 2005 and w.r.t Clause 2(b)(4) of Prevention of Money-laundering(Maintenance of Records) second Amendment Rules, 2017 notified on June 01, 2017, wherein it has been stated that

“It is observed that as per clause 2(b)(4) of the PML Amendment Rules in case the Permanent Account Number (PAN) is not submitted by any client at the time of opening of account based relationship, one certified copy of an ‘officially valid document’ (OVD) shall be submitted

In view of the same, it is clarified that, for securities market, in terms of the SEBI circular dated April 27, 2007, the requirement of PAN would continue to be mandatory for completing the KYC process’’

Stock Brokers are advised to comply with above mentioned requirement.

For and On behalf of BSE Ltd.

Sr. General Manager
(Brokers’ Supervision)

Estelle Solution Private Limited ,59 Bentick street First Floor Kolkata 700069



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