Amendment to SEBI (Know Your Client) Registration Agency Regulations


CIR/MIRSD/ 4 /2013

March 28, 2013

1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchanges,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs) through Association of Mutual Funds in India (AMFI)
5. Portfolio Managers (PMs)
6. Alternative Investment Funds (AIFs)
7. Collective Investment Schemes (CIS),

Dear Sirs,

Sub: Amendment to SEBI {(Know Your Client) Registration Agency} Regulations,  2011 and relevant circulars

1. Please refer to SEBI circular nos. MIRSD/Cir- 26 /2011 dated December 23, 2011 and MIRSD/ Cir-5 /2012 dated April 13, 2012.

2. The Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Amendment Regulations, 2013 have been notified vide No. LADNRO/GN/2012-13/35/6998 with effect from March 22, 2013 whereby the requirement for sending original KYC documents of the clients to the KRA has been removed (copy enclosed).

3. The aforesaid circulars dated December 23, 2011 and April 13, 2012 shall stand modified to that extent. The other provisions of these circulars shall remain unchanged.

4. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 17 of the SEBI (KYC (Know Your Client) Registration Agency) Regulations, 2011 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.

Yours faithfully,

A. S. Mithwani
Deputy General Manager

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