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TMI BlogSimplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)X X X X Extracts X X X X X X X X Extracts X X X X ..... of India Act, 1992 2. Stock Exchanges 3. Association of Mutual Funds in India (AMFI) 4. Association of Portfolio Managers (APMI) 5. BSE Administration Supervision Ltd (BASL) Dear Sir/Madam, Subject: Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs) 1. SEBI vide circular SEBI/HO/MIRSD/DoP/P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es and transact in securities market as soon as the KYC process is completed. 5. Thereafter, as a part of risk management framework, the KRAs shall verify the following attributes of records of all clients within 2 days of receipt of KYC records: 5.1. PAN (including PAN Aadhaar linkage, as referred to in rule 114 AAA of the Income-tax Rules, 1962) 5.2. Name 5.3. Address 6. Addit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oaches different intermediary in securities market and the intermediary shall fetch the validated records from the KRA database. 11. The KRAs shall develop systems/mechanism, in co-ordination with each other, and shall follow uniform internal guidelines/standards detailing aspects of identification of attributes and procedures for verification/ validation, in consultation with SEBI. 12. Furt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cy} Regulations, 2011 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. 16. This circular is available at www.sebi.gov.in under the link Legal --- Circulars . Yours faithfully, Sapna Sinha Deputy General Manager Phone No. 022-2644 9748 Email id: [email protected] - Circular - Trade Notice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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