SEBI Circular on : Rollout of Legal Entity Template - CKYCR
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Date |
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10-03-2021 |
SEBI |
CKYC |
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Highlights of SEBI Circular no.SEBI/HO/MIRSD/DOP/CIR/P/2021/31 dated March 10, 2021 on Rollout of Legal Entity Template - CKYCR SEBI, vide Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2021/31 dated March 10, 2021 has informed that, CKYCR has decided to extend CKYCR compliances to Legal Entities (LE) as well and accordingly, RIs are required to upload the KYC records of LE accounts opened on or after April 01, 2021 on to CKYCR in terms of Rule 9 (1A) of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005..
It is to be noted that SEBI vide circular no. CIR/MIRSD/66/2016 dated July 21, 2016 had directed the Registered Intermediaries (RI) to upload the KYC records with CKYCR, in respect of all individual accounts opened on or after August 01, 2016.
The LE Template and the Annexure thereof are attached as Annexure “A” and Annexure “B” respectively.
Further, points to be noted: 1.The LE template is made available by CERSAI in the CKYCR test environment (https://testbed.ckycindia.in/ckyc/index.php) enabling RIs to develop necessary infrastructure. 2.RIs shall ensure that in case of LE accounts opened prior to April 1, 2021, the KYC records are uploaded onto CKYCR when the updated KYC information is obtained/received from the client. RIs shall ensure that during such receipt of updated information, the clients’ KYC details are migrated to current Client Due Diligence (CDD) standards. 3. To ensure that all existing KYC records of individual clients are incrementally uploaded on to CKYCR, RIs shall upload the KYC records pertaining to accounts of individuals opened prior to August 01, 2016, as and when updated KYC information is obtained/received from the client. 4. Where a client, for the purpose of establishing an account based relationship, submits a KYC Identifier to a RI, with an explicit consent to download records from CKYCR, then such RI shall retrieve the KYC records online from CKYCR using the KYC Identifier and the client shall not be required to submit the same KYC records or information or any other additional identification documents or details, unless there is a change in the information of the client as existing in the records of CKYCR. 5. Once a KYC Identifier is generated by CKYCR, the RIs shall ensure that the same is communicated to the individual/legal entity. 6. The provisions of this circular are not applicable to Foreign Portfolio Investors (FPIs).
SEBI Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2021/31 dated March 10, 2021 along with Annexure A and Annexure B is enclosed herewith for ready reference.
In case of any clarification or assistance required in implementation of this circular you may contact VANDANA VANIA (SecMark Consultancy Ltd.)– van...@secmark.in / 9223303460 SHARDUL SHAH - shard...@secmark.in/ 9869265949 / 9653415968 |
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