Kathmandu. The Securities Board of Nepal (SEBI) has conducted a training and orientation programme for the employees of stock brokers and stock dealers on ‘Compliance with the topics and instructions to be taken care of while identifying customers regarding prevention of money laundering’. A total of 93 employees of securities brokers and securities traders participated in the programme.
On the occasion, Acting Executive Director of Securities Board Rupesh KC stressed the need for all to play an effective role in the implementation of necessary legal and policy provisions regarding the prevention of money laundering and terrorist financing. He said that such a program would be implemented in the coming days to increase the capacity of the securities entrepreneurs.
Similarly, Dipesh Tamrakar, Deputy Executive Director of securities board, said that the implementation aspect of the provision related to AML/ CFT/ CPF was improving and stressed the need to effectively implement the lessons learned from this program in the coming days as well.
On the occasion, Director of The Prevention of Money Laundering Section of the Securities Board, Ritumbhara Basnet, presented a working paper on basic concepts related to AML/CFT/CPF, the role of the employees of the index organization in customer identification, the risk assessment system of customers, securities-related offences, topics to be reported to the board and financial information unit, money laundering and prevention of financial investment in the securities sector through terrorist activities. The program was conducted by Bhuwan Desar, Assistant Director of the same branch.
The Securities Board has made various legal provisions for effective regulation and supervision regarding the prevention of money laundering and terrorist financing. The Securities Board has already completed orientation programme on AML/CFT/CPF to 151 employees of the index institution in the current fiscal year.
The Securities Board believes that such a program will further help in the development of a clean, transparent and effective stock market as well as effective implementation of the legal provisions related to prevention of money laundering and terrorist financing by enhancing the capacity of the stock market participants.
