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The Securities and Exchange Board of India (SEBI) vide its circular in December, 2011 had issued guidelines to implement SEBI KYC (Know Your Customer) Registration Agency (KRA) Regulations, 2011. These SEBI KRA regulations have been amended vide Gazette Notification on 8th January, 2022. These amendments have been introduced to implement the regulations effectively.
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KYC Registration Agency (KRA) is actually an agency that is registered with the Securities and Exchange Board of India. KRAs are registered under [KYC (Know Your Customer) Registration Agency] Regulations, 2011. The purpose of KRAs is to maintain the KYC records of the investors centrally, on behalf of the capital market intermediaries registered so that seamless transfer of KYC data takes place between the registered market intermediaries whenever a person goes to open an account with another market intermediary and the customer does not go through again the KYC process all over again.
SEBI guidelines amending SEBI KRA Regulations are applicable to the following SEBI registered intermediaries:
Following are the highlights of the guidelines in pursuance of amendments in the KRA regulations that have been introduced:
This circular has been issued by SEBI in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 17 of the SEBI (KYC (Know Your Client) Registration Agency) Regulations, 2011 to protect the interests of the investors in securities and to promote development of and regulate the securities markets.
Read Our Article:SEBI Guidelines on Business Responsibility Reporting
Prabhat has done his BA LLB (Hons) and has been writing research papers since his law school days. His interest in content writing made him pursue a career in legal research and content writing. His core areas of interest are indirect taxes, finance and real estate.
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