ISLAMABAD: Following the directions of National Counter-Terrorism Authority (NACTA), the Securities and Exchange Commission of Pakistan (SECP) has taken strong action against 14 proscribed persons who were working in the 13 compnaies of corporate sector and 47 high-risk non-profit organisations (NPOs), said annual report of the regulator issued here the other day.
According to a local newspaper, the SECP took action against the proscribed persons under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) drive and used NACTA’s online database of fourth schedule. These 14 proscribed persons were working at different positions in 13 companies. The regulator started punitive action against these persons.
READ MORE: SECP proposes changes in law to prevent money laundering
The regulator issued a disqualification order against the chief executive of a company whose name was appearing on the United Nations Security Council (UNSC)’s list of designated persons under Resolution 1267.
It merits mentioning here that the SECP has intensified action against money laundering and terror financing to comply with the Financial Action Task Force (FATF) recommendations.
.
[…] post Action against 14 proscribed persons, 47 NPOs under AML/CFT drive: SECP appeared first on Profit by Pakistan […]