The Securities and Exchange Board of India (SEBI) on December 18, 2023, issued a notification regarding the Simplification of requirements for granting accreditation to investors.
This shall come into effect from December 18, 2023
The following has been stated namely: -
• This has a reference to the SEBI Circular No. SEBI/HO/IMD/IMD-I/DF9/P/CIR/2021/620 dated August 26, 2021, on ‘Modalities for implementation of the framework for Accredited Investors’, specified a framework for accreditation of investors by Accreditation Agencies.
• It has been decided to simplify the requirements for the grant of accreditation to investors
• It states that the Accreditation Agencies, which are also KYC Registration Agencies may access Know Your Customer documents of applicants available with them in the capacity of KRA and may also access the same from the database of other KRAs, for the purpose of accreditation.
• It states that the Accreditation agencies shall grant accreditation solely based on the KYC and the financial information of the applicants.
• It further states that stock Exchanges and Depositories are directed to bring the provisions of this circular to the notice of their subsidiaries who are recognized by SEBI as Accreditation Agencies.
• The Revised Modalities of Accreditation and List of documents to be submitted by the applicant for accreditation have been attached as Annexure A and Annexure B for reference.
Kindly refer to the document to view the Annexures.
[Circular No. SEBI/HO/AFD/PoD1/CIR/2023/189]
