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of <h1>SEBI Requires Intermediaries to Implement Anti-Money Laundering Policies, Report to FIU-IND, and Preserve Records for 10 Years.</h1> The circular from the Securities and Exchange Board of India (SEBI) outlines obligations for intermediaries under the Prevention of Money Laundering Act, 2002. It mandates intermediaries to establish an anti-money laundering policy, designate a 'Principal Officer', and report their details to the Financial Intelligence Unit-India (FIU-IND). Intermediaries must maintain records of significant cash transactions, suspicious activities, and preserve these records for ten years. They are required to submit Cash Transaction Reports (CTR) monthly and Suspicious Transaction Reports (STR) promptly. Confidentiality in reporting is emphasized, and no restrictions should be placed on accounts under investigation. Intermediaries must comply with these regulations to protect investor interests and ensure market integrity.
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