The National Stock Exchange (NSE) on February 07, 2024, issued a notification regarding Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011.
In continuation to the above circulars, “clients whose KYC are not found to be validated by KRAs for the following-
• KYCs that are “On Hold” for any reasons (both AADHAAR and Non-AADHAAR based) uploaded from September 01, 2023 to January 31, 2024.
Such UCCs shall neither be permitted to trade on the Exchange nor will they be able to square up their open positions, if any, w.e.f. February 17, 2024, until they comply with the aforesaid requirement. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
Given the above, the Exchange shall flag the non-compliant PANs provided by the KRAs, as Not permitted to trade starting from February 17, 2024. All PANs that become KRA compliant subsequently, will be permitted to trade on T+1, based on the information received from KRA by the Exchange on T day.
[Notification No. NSE/ISC/60600]
