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Sebi kyc registration agency guidelines

(Guest)

Hi all,

SEBI has issued Guidelines in pursuance of the SEBI KYC Registration Agency (KRA) Regulations, 2011 and for In-Person Verification (IPV)

Pls check the attached filed for SEBI guidelines dated 23.12.2011.

Thanks.

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6 Replies

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 27 December 2011

Thanks for Updation

1 Like

Parashar (Company Secretary 2004) (1013 Points)
Replied 27 December 2011

Thanx for information

1 Like

(Guest)

The KRA system shall be applicable for all new client accounts opened from January 1, 2012. Only for the client accounts opened between Jan 1 and Jan 31, 2012, the intermediaries may upload the KYC data on the KRA system and send the relevant KYC documents to KRA, by February 15, 2012. However, for client accounts opened from February 1, 2011, the intermediaries shall continue to follow the requirement of sending the same within 10 working days as given in para 1(i) of this circular. The existing clients can continue to trade / invest/ deal with their intermediaries as per the current practice.

(Guest)

The key provisions of the circular are as below: 1. Guidelines for Intermediaries: i. The circular provides the procedure to be followed by the intermediaries for KYC and uploading of information of KYC of new and existing clients on systems of KRA. ii. The guidelines further provide for maintenance of records by intermediaries in electronic form and require intermediaries to have internal control to ensure security and authenticity of data. 2. Guidelines for KRA: i. The circular provides for maintenance of KYC information in data and image form and requires to obtain confirmation from clients of information uploaded. ii. It further provides for KRA to have systems and controls to avoid duplicity and to safeguard security of data. iii. A proper audit trail for upload / modifications / downloads of KYC data to be maintained and to have audit of systems by independent auditor and report of audit and actions taken to be submitted to Board of Directors and to SEBI. 3. In-Person Verification (IPV) SEBI has from time to time issued circulars to stock brokers and DPs, now in regard to the uniformed provision of KYC procedures, IPV requirements are also harmonized. i. As per this circular, all the intermediaries to carry out IPV of their clients and to record name of the person doing KYC with designation, organization, signatures and date on the KYC form. ii. The circular allows the intermediary to rely on IPV done by another SEBI registered intermediary. iii. Requirement in case of Mutual funds is also provided. Thanks all for noticing.

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 27 December 2011

Thanks for more calerification.

Stuti (a) (31 Points)
Replied 21 January 2012

Originally posted by : Neha Jain
	The key provisions of the circular are as below: 1. Guidelines for Intermediaries: i. The circular provides the procedure to be followed by the intermediaries for KYC and uploading of information of KYC of new and existing clients on systems of KRA. ii. The guidelines further provide for maintenance of records by intermediaries in electronic form and require intermediaries to have internal control to ensure security and authenticity of data. 2. Guidelines for KRA: i. The circular provides for maintenance of KYC information in data and image form and requires to obtain confirmation from clients of information uploaded. ii. It further provides for KRA to have systems and controls to avoid duplicity and to safeguard security of data. iii. A proper audit trail for upload / modifications / downloads of KYC data to be maintained and to have audit of systems by independent auditor and report of audit and actions taken to be submitted to Board of Directors and to SEBI. 3. In-Person Verification (IPV) SEBI has from time to time issued circulars to stock brokers and DPs, now in regard to the uniformed provision of KYC procedures, IPV requirements are also harmonized. i. As per this circular, all the intermediaries to carry out IPV of their clients and to record name of the person doing KYC with designation, organization, signatures and date on the KYC form. ii. The circular allows the intermediary to rely on IPV done by another SEBI registered intermediary. iii. Requirement in case of Mutual funds is also provided. Thanks all for noticing.

I am surprised and shocked to see above post of you, Ms. Neha Jain. The above post is verbatim and word to word copied from the CAPITAL MARKET NEWSWIRE regarding 'Guidelines to SEBI KYC Registration Agency Regulations, 2011 and In-person Verification' circulated by us at “CORPORATE PROFESSIONALS”(CP).

The efforts which is made in wording the notifications have been copied without giving any credit the firm or taking any permission from the Organization.

This is a highly unethical act and is not expected from a professionals to the least. We call upon you not to copy any other literary product of our Organization either on this forum or any other forum and reserve our rights to initiate a legal action for copying the literary creation of the Organization.