Legal Guidelines: SECP briefs on beneficiary framework
SECP’s obligations under the FATF action plan include identifying and assessing terror-financing risks
ISLAMABAD:
The Securities and Exchange Commission of Pakistan (SECP) organised a workshop on Thursday for journalists on its anti-money laundering regime and framework to detect beneficiaries of companies. The head of SECP’s anti-money laundering (AML) and international relations departments, Khalida Habib, briefed journalists on the Financial Action Task Force (FATF) on money laundering, AML/CFT recommendations, legal framework for AML /CFT and about procedures for monitoring implementation on FATF recommendations and the challenges therein. Corporatisation and compliance department Additional director Waseem Ahmad Khan gave a briefing on SECP’s regulatory framework for beneficial ownership. The SECP’s obligations under the FATF action plan include identifying and assessing terror-financing risks, in relevant sectors, geographic locations, channels and products, in consultation with FMU, LEAs, and other stakeholders.
Published in The Express Tribune, November 23rd, 2018.
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