August 18, 2015 1:47 PM

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BSE sets up new system for reporting suspicious trades

To check money laundering through stock markets, stock exchange BSE has asked its members to report on a monthly basis details of the STRs (Suspicious Transaction Reports) submitted to the government's Financial Intelligence Unit (FIU). Asking the members to ensure compliance at the earliest, the exchange said in a circular that the trading members are required to submit the data through a specific FIU-STR module of the online gateway BSE Electronic Filing System. The members have been asked to provide details of their registration with the FIU, as also the information about the principal officer and the designated directors for the PMLA (Prevention of Money Laundering Act) compliance.

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