Registration with the FINNET 2.0 system

Registration with the FINNET 2.0 system of Financial Intelligence Unit –India (FIU-India)

1. FIU-India, vide letter dated April 19, 2023 addressed to designated directors and principal officers of Debenture Trustees, has specified guidelines including red flag indicators for detecting suspicious transactions by the Debenture Trustees under Rule 7(3) of Prevention of Money Laundering (Maintenance of Records) Rules, 2005.
   
2. It has been informed by FIU-India that:
   a) all Reporting Entities falling under Debenture Trustee segment registered in FINNET 1.0 system of FIU-India are required to re-register themselves in FINNET 2.0 system/ module*;and
   b) those reporting entities who have not yet registered themselves with FIU-India are required to be registered in FINNET 2.0 system/ module of FIU-India immediately in light of the FATF mutual evaluation.
   
3. In view of the above, all the SEBI registered debenture trustees are advised to register/ re-register themselves in FINNET 2.0 system of FIU-India as soon as possible.
   
4. This Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992 and Regulation 2A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.

*FINNET 2.0 is the new reporting platform of FIU-India; for more details please refer to the following website; https://fiuindia.gov.in/files/misc/finnet2.html

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