The National Stock Exchange of India Limited (NSE) on April 10, 2024, issued a circular regarding guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011.
The following has been stated: -
•It is informed that the clients whose KYCs are not found to be validated by KRAs i.e. where the KYCs are “On Hold” for any reasons (both AADHAAR and Non-AADHAAR based OVD) uploaded to the KRA from March 01, 2024, to March 31, 2024, shall neither be Permitted to Trade on the Exchange nor will they be allowed to square up their open positions, if any, w.e.f. April 27, 2024, until they comply with the validation requirements. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
•The Exchange shall flag the non-compliant PANs, provided by the KRAs, as Not Permitted to Trade w.e.f. April 27, 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.
The detailed circular is given in the document attached below.
[Circular Ref. No: 19 /2024]
