Moving towards a
common know-your client (KYC) framework for the entire share market, SEBI simplified investor account
opening form by doing away with details about income and occupation of the
applicant for the purpose of centralised KYC registration agency.
SEBI in a circular
has given 6 months to various market intermediaries to bring the changes in the
KYC form.
The SEBI said certain
information about applicants such as gross annual income details, occupation,
permanent address proof & whether
the applicant is a politically exposed person are not required for the centralised
KYC Registration Agency (KRA).
The decision was
taken after consulting various market participants.
No comments:
Post a Comment