Furthermore, legal framework and reporting obligations under SRO 245 (I)/ 2019 dated February 22, 2019, for the SECP regulated sector were explained in detail. The SRO requires financial institutions to file their AML/CFT annual risk assessment, compliance assessment framework and requisite data/information annually by June 30. In this regard, the methodology for risk assessment and compliance framework as prescribed in the SECP AML/CFT Regulations, 2018 and guidelines were discussed to help the regulated entities with filing of their AML/CFT returns with the SECP.
Each session concluded with a discussion on issues relating to the implementation of SECP's AML/CFT regime in particular targeted financial sanctions and asset freezing obligations on the regulated entities.-PR