Securities and Exchange Board of India (“SEBI”) vide its circular dated April 6, 2022 (“April Circular”), had issued guidelines in pursuance of the amendments brought under the SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011. The provisions of the April Circular at Clause 9 and Clause 13 were to come into effect from July 1, 2022.
With regard to receipt of requests from the KYC Registration Agencies (“KRAs”) to extend the timelines for applicability of said Clauses 9 and 13 of the April Circular, SEBI has now vide its circular dated June 24, 2022 (“Circular”) decided the following:
- KYC records of all existing clients (who have used Aadhaar as an OVD) to be be validated within a period of 180 days from August 1, 2022.
- The validation of all KYC records (new and existing) will commence from August 1, 2022.