Implementation of Circular on Guidelines in pursuance of amendment to SEBI KYC KRA Regulations, 2011
Summary
SEBI extends the implementation timeline for specific clauses of its April 2022 circular regarding KRA regulations to November 1, 2022. The directive mandates that validation of all KYC records must commence from this new effective date. Additionally, existing clients who utilized Aadhaar as an Overriding Document of Identity are required to have their records validated within 180 days.
Text
KYC records of all existing clients (who have used Aadhaar as an OVD) shall be validated within a period of 180 days from November 01, 2022.
The validation of all KYC records (new and existing) shall commence from November 01, 2022.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 17 of the SEBI KYC (Know Your Client) Registration Agency) Regulations, 2011 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.
Source: SecMarx — Implementation of Circular on Guidelines in pursuance of amendment to SEBI KYC KRA Regulations, 2011. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.