The Securities and Exchange Commission (hereinafter referred to as “SEC”) is the statutory body mandated by the Securities Industry Act, 2016 (Act 929) to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
Section 138 of the Securities Industry Act, 2016 (Act 929) requires that a broker-dealer, a fund manager, and any other licensed person shall ensure that it operates in a manner that will ensure compliance with the provisions of the Anti-Money Laundering Act, 2008(Act 749) as amended, the Anti-Terrorism Act, 2008(Act 762) as amended and the Regulations made under these enactments.
The Commission issued Guidelines on Anti-Money Laundering/Combating the Finance of Terrorism (AML/CFT) with number SEC/GUI/004/2019 of which Part A 1.16(d) (iii) of the Guidelines obliged Market Operators to submit semi-annual returns to the Commission.
The SEC reminds all Anti-Money Laundering Reporting Officers (AMLROs) of capital market operators of their obligations under the above-stated provisions and request that AMLROs visit the Commission’s Website under Market Information, download and complete the under listed documents and thereafter submit them electronically to the Audit and Risk Management Department (firstname.lastname@example.org), latest by close of work on Thursday, 30th July 2020:
1. SEC Risk Management Questionnaire June 2020;
2. SEC Data Capture Questionnaire June 2020;
3. AML-CFT Onsite Supervision Form June 2020.
Henceforth, this exercise will be repeated at the end of every six months and the returns submitted to the Commission latest by 31st July in the year and 31st January in the following year.
Failure to comply with the above directive shall attract the enforcement of the provisions of section 209(4) of Act 929.
This circular is issued pursuant to sections 3, 138, and 209 of the Securities Industry Act, 2016 (Act 929).
BY ORDER OF THE
SECURITIES & EXCHANGE COMMISSION (SEC).
Dated the 26th June 2020
The full document can be downloaded here
Last modified: July 9, 2020