SECP proposes amendments in the AML/CFT Regulations, 2018.

ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has proposed certain amendments in the Anti Money Laundering (AML) and Countering Financing of Terrorism (CFT) Regulations, 2018.

The amendments that are in line with the Financial Action Task Force (FATF) recommendations and international best practices have been placed on SECP's website for public consultation.

The amendments would help further strengthening SECP's AML/CFT regime, said a press release issued by the Commission on Wednesday.

The proposed amendments elaborate on the Risk Based Approach requiring regulated persons (RPs) including; securities brokers, futures brokers, insurers, Takaful operators, non-banking finance companies (NBFCs) and Modarabas to conduct risk assessment that is aligned with Pakistan's latest National Risk Assessment and ensure implementation...