In exercise of its powers to protect the integrity of the securities market against all forms of abuse, fraudulent and unfair trade practices, the Securities and Exchange Commission (SEC) reviewed, repealed, and updated the Securities and Exchange Commission (Capital Market Operators Anti-Money Laundering and Combating the Financing of Terrorism) (AML/CFT) Regulations 2013 (the 2013 Regulations) and introduced the SEC AML/CFT Regulations 2022 (the 2022 Regulations). The 2022 Regulations were necessitated by a need to adequately combat and provide protection against fraud, reputational and other financial market risks and minimize the risk faced by the market on laundering the proceeds of crime.
This newsletter highlights key changes introduced to the 2022 Regulations.
