Abstract：The Securities and Exchange Board of India (SEBI) proposed Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) certification compulsory for principal offers of registered intermediaries to make them more knowledgeable, competent and professional while implementing regulatory norms. The move is part of the SEBI’s strategy of ensuring adequate expertise among principal officers to detect suspicious transactions, evaluate money-laundering risks, and adhere to reporting obligations under the AML/CFT framework. The SEBI, in a statement, while acknowledging the central role of Principal officers in ensuring adherence to AML/CFT framework, revealed the proposal concerning AML/CFT certification for principal officers.
The Securities and Exchange Board of India (SEBI) proposed Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) certification compulsory for principal offers of registered intermediaries to make them more knowledgeable, competent and professional while implementing regulatory norms. The move is part of the SEBIs strategy of ensuring adequate expertise among principal officers to detect suspicious transactions, evaluate money-laundering risks, and adhere to reporting obligations under the AML/CFT framework. The SEBI, in a statement, while acknowledging the central role of Principal officers in ensuring adherence to AML/CFT framework, revealed the proposal concerning AML/CFT certification for principal officers.
ContentsSEBI’s existing regulatory guidelines mandate that registered intermediaries appoint management-level principal officers. Also, there is no need for any specific AML/CFT certification for such officials. This may create a varying level of expertise among intermediaries concerning anti-money laundering and counter-terror financing measures, according to SEBI.
Principal officers are tasked with the responsibility to identify and assess potentially suspicious transactions, maintain records and ensure reporting of such transactions to the Financial Intelligence Unit-India in time. According to the proposed framework, these officers would need adequate knowledge related to the Prevention of Money Laundering Act, customer due diligence, beneficial ownership needs, risk-based client classification, improved due diligence and transaction monitoring systems.
The AML/CFT certification is likely to have an extended scope. The proposed framework would cover targeted financial sanctions, record maintenance, reporting obligations, and emerging risk from new products and technologies. Additionally, the regulator gave a six-month timeline to improve compliance with the certification requirement for existing and newly appointed principal officers. SEBI stated that it has joined forces with the National Institute of Securities Markets (NISM) to create a certification examination covering AML/CFT provisions in the securities market. NISM introduced the Series-XXIV AML/CFT certification examination in February 2025. With a view to making the proposal more robust, the SEBI has sought public responses until November 27, 2026.
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