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    India Gets Membership of the Eurasian Group on Anti-Money Laundering and Combating the Financing of Terrorism (EAG)
    PM’s Address at the Inauguration of India Corporate Week 2010
    PAN to be mandatory for all mutual fund investments
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    December 15, 2010
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    Anti money laundering and counter terrorist financing: India joins Eurasian Group, committing to adopt and enforce international standards.
    India joined the Eurasian Group, a regional FATF style body, committing to adopt and enforce international AML/CFT standards, engage in peer cooperation, harmonise legal and regulatory frameworks, and strengthen financial sector transparency and safeguards against abuse by organised crime and terrorist groups.
    December 14, 2010
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    Sustainable business: corporate governance and social responsibility urged to align corporate growth with inclusive, ethical practices.
    The address advocates an enabling regulatory framework to promote productive, responsible corporate conduct, noting Ministry initiatives: investor education programmes, MCA21 e governance for company registration, Competition Commission activity, Company Law updates, introduction of limited liability partnerships, and convergence with international accounting standards. It endorses voluntary corporate governance and CSR guidelines, defines sustainability to include economic, social and environmental dimensions, urges corporate-led skill development, rural engagement and responsible resettlement and environmental practices, and requires investigatory powers to be exercised under well defined rules with a Cabinet Secretary review.
    December 5, 2010
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    PAN mandatory for mutual fund investments-investors must furnish PAN and KYC documents regardless of investment size.
    All mutual fund investors, new and existing, must furnish PAN as a mandatory element of revised KYC compliance; fund houses must collect PAN, address proof, and photograph from every investor irrespective of investment amount to align with anti-money laundering requirements and standardise investor identification.

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