October 25, 2013
Trading members are hereby informed that the Exchange has received a Circular from SEBI vide Ref. No. CIR/MIRSD/ 09/ 2013, dated October 08, 2013 regarding Know Your Client Requirements. The contents of the said Circular are reproduced hereunder for information of trading members.
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CIR/MIRSD/ 09/ 2013 October 8, 2013
1. All Recognized Stock Exchanges
2. Stock Brokers through Recognized Stock Exchanges
3. Depository Participants through Depositories
4. Association of Mutual Funds in India
5. Mutual funds through AMFI
6. Portfolio Managers
7. KYC Registration Agencies (KRAs)
8. Alternative Investment Funds (AIFs)
9. Collective Investment Schemes (CIS)
Dear Sir/ Madam,
Sub: Know Your Client Requirements
1. Please refer to SEBI circular No. CIR/MIRSD/ 09 /2012 dated August 13, 2012, advising that Aadhaar Letter issued by UIDAI would be admissible as Proof of Address in addition to it being recognized as Proof of Identity.
2. In consultation with Unique Identification Authority of India (UIDAI) and the market participants, it has now been decided to accept e-KYC service launched by UIDAI also, as a valid process for KYC verification. The information containing relevant client details and photograph made available from UIDAI as a result of e-KYC process shall be treated as sufficient proof of Identity and Address of the client. However, the client shall have to authorize the intermediary to access his data through UIDAI system.
3. 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.
A. S. Mithwani
Deputy General Manager
Trading Members are requested to take note of the aforesaid guidelines of SEBI and act accordingly.