The Securities and Exchange Board of India (SEBI) on March 19, 2024, issued a circular regarding the Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in the Securities Market as sub-KUA
This has a reference to the Master Circular on Know Your Client norms for the securities market SEBI/1-10/MIRSD/SECFATF/P/CIR/2023/169 dated October 12, 2023, that has detailed the provision for 'the adaptation of Aadhaar-based e-KYC process and e¬KYC Authentication facility for Resident Investors under section 11A of the Prevention of Money Laundering Act, 2002, entities permitted to undertake e-KYC Aadhaar Authentication service of UIDAI in Securities Market as sub-KUA, and onboarding process of sub-KUA by UIDA
The following has been stated namely: -
• It states that it has notified another 4 entities that are permitted to use Aadhaar authentication services of UIDAI under section 11A of the Prevention of Money-laundering Act, 2002. A copy of the notification is attached as Annexure A
• It states that the mentioned entities shall follow the process as detailed in the SEBI circular dated October 12,2023 and as may be prescribed by UIDAI from time to time. The KUAs shall facilitate the onboarding of these entities as sub-KUAs to provide the services of Aadhaar authentication concerning KYC
[Circular No. SEBI/HO/MIRSD/SECFATF/P/CIR/2024/17]
