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CONSULTATION PAPER ON ROLE OF KYC REGISTRATION AGENCIES/MARKET INFRASTRUCTURE INSTITUTIONS (MIIS) IN PERFORMING KYC IN SECURITIES MARKET
Updated on:13th Jan, 2021
Consultation paper on Role of KYC Registration Agencies (KRAs) / Market Infrastructure Institutions (MIIs) in performing KYC (Know Your Client) of clients in securities market SEBI has prescribed various guidelines with regard to client KYC process, Use of technology for KYC, e-KYC Process, In-Person Verification, KYC Registration Agency (KRA) etc.. At present, KYC of clients in the securities market is conducted by SEBI Registered Intermediaries (stock brokers, depository participants, RTAs) and then Registered Intermediaries (RI) upload KYC records in the KRA/CKYCR system. The role of KRAs is centralization of the KYC records, ascertaining the upload of KYC documents and sharing KYC records with SEBI registered intermediaries as and when required. The responsibility of conducting the KYC and maintenance of records rests with the RI and KRA is only a repository of KYC records.
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