9911796707
TMI BlogUploading of the existing clients’ KYC details in the KYC Registration Agency (KRA) system by the intermediariesX X X X Extracts X X X X X X X X Extracts X X X X ..... MIRSD/SE/Cir-21/2011 dated October 5, 2011, MIRSD/Cir-23/2011 dated December 2, 2011 and MIRSD/Cir- 26 /2011 dated December 23, 2011 on KYC related issues. 1. SEBI simplified the account opening process for investors and made it uniform across intermediaries in the securities markets vide aforementioned circulars. Further, to avoid duplication of KYC process with every intermediary, KRA system was developed for centralization of the KYC records in the securities markets. The system was made applicable for new clients who opened accounts with the intermediaries from January 1, 2012. 2. Now, for convenience of the clients registered prior to January 1, 2012 (hereinafter referred to as 'existing clients') and to expand the centralized databa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xisting clients of intermediary who trade/ invest/ deal with it during the below mentioned time period Timeline for intermediary to upload existing client's KYC data on KRA system & send KYC documents to KRA Timeline for KRA to update the record in their system & send acknowledgement to the existing client April 16, 2012 - June 15, 2012 August 31, 2012 September 30, 2012 June 16, 2012 - August 31, 2012 October 31, 2012 November 30, 2012 September 1, 2012 - October 31, 2012 November 30, 2012 December 31, 2012 November 1, 2012 - December 31, 2012 January 31, 2013 February 28, 2013 January 1, 2013 - February 28, 2013 March 15, 2013 March 31, 2013 The KYC data of the existing clients, who trade / invest or deal after the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... YC data of the remaining existing clients can also be uploaded on the KRA system. 5. The Stock Exchanges and Depositories are directed to: a. bring the provisions of this circular to the notice of the Stock Brokers and DPs, as the case may be, and also disseminate the same on their websites; b. make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision in co-ordination with one another, as considered necessary; c. monitor the compliance of this circular through half-yearly internal audits and inspections; and d. communicate to SEBI, the status of the implementation of the provisions of this circular. 6. in case of mutual funds, compliance of this circular shall be monitored by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
