New Delhi, Nov. 6 -- The Securities and Exchange Board of India (SEBI) has proposed making anti-money laundering and counter-terrorism financing certification mandatory for principal officers of all registered securities market intermediaries, aiming to strengthen compliance standards and improve the detection of suspicious financial transactions.

In a consultation paper issued on Friday, the market regulator proposed requiring principal officers to obtain the National Institute of Securities Markets (NISM) Series-XXIV certification on Anti-Money Laundering and Combating the Financing of Terrorism Provisions in Securities Markets.

Under the proposal, existing principal officers would be required to complete the certification within six ...