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The BSE has asked its broker members to submit data on suspicious transactions in its electronic filing system under the Financial Intelligence Unit — India (FIU-IND).
Joint task forceBrokers have to report the number of suspicious transaction reports (STRs) filed by them with FIU-IND to the exchange on a monthly basis.
This follows the setting up of a joint task force of all financial regulators, including the RBI, IRDA, SEBI and PFRDAI to monitor all suspicious transactions, including on the stock exchange platform, for money laundering and terror financing. The proposal has been mooted under the aegis of the FIU-IND, the central agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions.
Updation requirementBrokers have been asked to fill details of registration with the FIU, including date of registration, principal officer details and designated director details. Further, in case of change in details submitted, brokers are required to update the relevant fields.
The broker has to report the cumulative number of STRs filed with FIU-IND as on March 31, besides the number of STRs filed on a monthly basis thereafter.
Brokers have to comply with this immediately, said BSE.
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