SEBI extended timelines for applicability of KYC records validation – 27 th July, 2022

Synopsis :- SEBI, vide its Circular dated 27 th July, 2022 extended timelines from 01 st August, 2022 to 01 st November, 2022 for applicability of clause 9 and clause 13 of Circular dated 06 th April, 2022 and 24 th June, 2022 which availed a requirement to validate KYC records of all existing and new clients within 180 days effective from 01 st July, 2022 and 01 st August, 2022 respectively.

SEBI, further added that extension has been provided after receiving requests from the KRAs. Therefore, KYC records of all existing and new clients shall be validated within 180 days commencing from 01 st November, 2022.

This circular is applicable to KYC Registration Agencies (KRAs), Stock Brokers through Stock Exchanges, Depository Participants (DPs) through Depositories, Mutual Funds (MFs) and AMCs Portfolio Managers (PMs), Collective Investment Schemes (CIS), Investment advisors, Registrar and Transfer Agents, Custodians, Alternate Investment Funds (AIFs), Association of Mutual Funds in India (AMFI).

Link to the Circular:
https://www.sebi.gov.in/legal/circulars/jul-2022/implementation-of-circular-on-guidelines-in-pursuance-of-amendment-to-sebi-kyc-know-your-client-registration-agency-kra-regulations-2011-_61220.html