Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA - SEBI - SEBI/HO/MIRSD/SECFATF/P/CIR/2024/17

CIRCULAR SEBI/HO/MIRSD/SECFATF/P/CIR/2024/17 March 19, 2024 To, 1. All Intermediaries registered with SEBI under Section 12 of the Securities and Exchange Board of India Act, 1992 2. Stock Exchanges Dear Sir/Madam, Subject: Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA 1. The Master Circular on Know Your Client (KYC) norms for the securities market SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 dated Oct 12, 2023 inter alia has detailed the provision for the adaptation of Aadhaar based e-KYC process and e-KYC Authentication facility for Resident Investors under section 11A of the Prevention of Money Laundering Act, 2002 , entities permitted to undertake e-KYC Aadhaar Authentication service of UIDAI in Securities Market as sub-KUA, and on-boarding process of sub-KUA by UIDAI . 2. Department of Revenue, Ministry of Finance vide gazette notification S.O. 3187(E) dated July 13, 2022 and S.O. 446(E) dated Jan 30, 2023 has notified 155 and 39 entities respectively, to undertake Aadhaar authentication service of UIDAI under section 11A of the Prevention of Money-laundering Act, 2002 . These notified entities have been annexed in para 68 of the said SEBI Master Circular. 3. Now, vide Gazette Notification S.O. 1339(E) dated March 14, 2024 , Department of Revenue-Ministry of Finance has notified another 4 entities which are permitted to use Aadhaar authentication services of UIDAI under section 11A of the Prevention of Money-laundering Act, 2002 . A copy of the notification is attached at Annexure A. 4. The above mentioned entities shall follow the process as detailed in SEBI circular dated Oct 12, 2023 and as may be prescribed by UIDAI from time to time. The KUAs shall facilitate the on-boarding of these entities as sub-KUAs to provide the services of Aadhaar authentication with respect to KYC. 5. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. Yours faithfully, Sapna Sinha Deputy General Manager Market Intermediaries Regulation and Supervision Department Tel. no.:022 2644 9748 email id: [email protected] Annexure A. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 14th March, 2024 S.O. 1339 (E) . In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to as the Money-laundering Act), the Central Government on being satisfied that the reporting entities mentioned in the Table below comply with the standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act), and it is necessary and expedient to do so, and after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar Act and the appropriate regulator namely, the Securities and Exchange Board of India, hereby permits the said reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-laundering Act, namely:- TABLE S. No. Reporting Entities (1) (2) 1 Wealthstreet Financial Services Private Limited 2 Equal Identity Private Limited 3 Neo Wealth Management Private Limited 4 SAMCO SECURITIES LIMITED [F. No. P-12011/3/2022-ES Cell-DOR] MANOJ KUMAR SINGH, Director (Headquarter)