PSX asks brokers to file suspicious transaction report to FMU

KARACHI: Stock brokers have been directed to file suspicious transaction report (STR) with Financial Monitoring Unit (FMU) under regulations related to anti money laundering and countering financing terrorism.



Pakistan Stock Exchange (PSX) issued a notification on Wednesday inviting TRE Certificate Holders about clause 14(8) of Securities and Exchange Commission of Pakistan (Anti Money Laundering and Countering Financing of Terrorism) Regulations, 2018.

The regulation is related to filing of STR with FMU. This regulation states: “Regulated person without disclosing the contents of STRs, shall intimate to the commission on bi-annual basis the number of STRs reported to FMU and the regulated person shall ensure that status report (indicating No. of STRs only) shall reach the AML Department within seven days of close of each half year.”

Accordingly, all TRE Certificate Holders are advised to submit the STR Filing Status Report for the half year ended December 31, 2018 with the SECP under intimation to the exchange latest by January 18, 2019.

The PSX further said that TRE Certificate Holders shall ensure submission of each status report bi-annually within seven days of end of each half year.

It must be noted that in case the TREC Holder has not filed any STR with FMU during the period then the same must be reported as ‘nil’ within the stipulated time period.

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