Regulation 18 - Board's right to inspect - Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011

CHAPTER IV INSPECTION of KRA Board's right to inspect 18. (1) The Board may appoint one or more persons as inspecting authority to undertake inspection of the books of accounts, records, documents, infrastructure, systems and procedures, of a KRA, for any purpose specified in sub-regulation (2). (2) The Board may inspect a KRA for the following purposes: (a) that the books of accounts, records and KYC documents, 1 [ as specified by the Board from time to time ] ,are being maintained by the KRA; (b) to look into the complaints received by the KRA from clients or any other person; (c) to ascertain whether the provisions of the Act and these regulations are being complied with; (d) to ascertain whether the systems, procedures and safeguards being followed by a KRA are adequate; (e) to ensure that privacy of clients data is maintained and the same is not shared with any other agency/associates in violation of these regulations; (f) to ensure that the affairs of a KRA are being conducted in a manner which are in the interest of the investors and securities market. ************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 before it was read as as prescribed by the Board