The Securities and Exchange Board of India (SEBI) on May 06, 2024, issued a circular related to the entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in the Securities Market as sub-KUA.
The Master Circular on Know Your Client (KYC) norms for the securities market SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 dated October 12, 2023, inter alia has detailed the provision for the adaptation of Aadhaar based e-KYC process and eKYC Authentication facility for Resident Investors under section 11A of the Prevention of Money Laundering Act, 2002 in the securities market as sub-KUA and onboarding process of sub-KUA by UIDAI.
The Department of Revenue, Ministry of Finance (DoR-MoF) has vide Gazette Notification S.O. 1863(E) dated April 30, 2024, notified one entity that is permitted to use the Aadhaar authentication services of UIDAI under section 11A of the Prevention of Money-laundering Act, 2002. A copy of the notification is attached in Annexure A.
[Circular No. SEBI/HO/MIRSD/SECFATF/P/CIR/2024/36]
