Listed-entity exemption

A regulated entity need not identify or verify shareholders or beneficial owners where the customer or the owner of the controlling interest is listed in India or in a notified jurisdiction, or is a subsidiary of such…

This one is not written up yet

The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.

Written up from the same chapter

Enhanced Due DiligenceThe additional customer due diligence a Regulated Entity must perform where ML/TF risk is high — including source of wealth, Senior Management approval and enhanced ongoing monitoring.

Where this is taught

Series IFSCA-01 · Chapter 6: IFSCA Guidelines for KYC Normsintroduced here
Series XXIV · Chapter 3: The Prevention of Money-laundering (Maintenance of Records) Rules, 2005introduced here

Free preparation for NISM Series IFSCA-01

Related terms

ControlIn the beneficial-ownership tests, the right to appoint a majority of directors or to control management or policy decisions — the limb that catches an owner holding no shares at all.

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