Implementation of Circular on ‘Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011’
- SEBI, vide its circular no. SEBI/HO/MIRSD/DOP/P/CIR/2022/46 dated April 06, 2022, had issued guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011. The provisions of this circular at clause 9 and clause 13 were to come into effect from July 01, 2022.
- Subsequently, an extension was granted vide circular no. SEBI/HO/MIRSD/DOP/P/ CIR/2022/89 dated June 24, 2022 whereby the aforesaid clauses were to come into effect from August 01, 2022.
- In this regard, considering the KRA’s request for extension of the timeline for applicability of the said clauses 9 and 13, it has been decided that:
3.1. 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.
3.2. 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.
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