The National Stock Exchange (NSE) on July 04, 2024, issued the guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011.
The following has been stated namely: -
• It is in reference to NSE/ISC/61553 dated April 10, 2024, and NSE/ISC/62456 dated June 14, 2024, related to “Simplification of KYC process and rationalization of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)” and “Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011”
• It states that clients whose KYCs are not found to be validated by KRAs i.e. where the KYCs are “On Hold” for records (both Non-AADHAAR and Non-OVD based) uploaded to the KRA until August 31, 2023, 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. August 03, 2024.
• It states that the exchange shall flag the non-compliant PANs provided by the KRAs, as Not permitted to trade w.e.f. August 03, 2024.
• It states that all PANs that become KRA compliant shall be permitted to trade on T+1, based on the information received from KRA by the Exchange on T day.
[Circular no. - NSE/ISC/62767]
