BSE Notice on - Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011
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Oct 13, 2025, 5:19:10 PM (9 days ago) Oct 13
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Date of Issue: 13-10-2025
Issuer: BSE
Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011
Highlights of BSE Circular dated October-13-2025
This is with reference to SEBI Circular No. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, and pursuant to Exchange circulars issued on monthly basis in respect to Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011 with the latest BSE notice no 20250910-24 dated September 10, 2025, on “Simplification of KYC process and rationalisation 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”.
Members are requested to take a note of SEBI circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/0000000163 dated October 03, 2023, about the Centralized Mechanism for reporting the demise of an investor through KRAs. Regarding all PANs declared as demise by KRAs on a daily basis, all regulated entities registered with SEBI should block debit transactions in the trading account and inactivate/close the UCC in all the Stock Exchanges. Furthermore, Trading Members are requested to note that, KRAs will send such PANs to them on daily basis. Based on the PANs acquired from KRAs, Trading Members are hereby advised to ensure that abovementioned SEBI circular is complied.
It is hereby informed that the clients whose KYC 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 September 01, 2025 to September 30, 202 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. October 27, 2025 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. October 25, 2025. 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 list of such non-compliant clients as mentioned above have been provided at the location mentioned in the circular.
In case of any clarification or assistance required in the implementation of this circular, you may contact :
Issuer: BSE
Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011
Highlights of BSE Circular dated October-13-2025
This is with reference to SEBI Circular No. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, and pursuant to Exchange circulars issued on monthly basis in respect to Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011 with the latest BSE notice no 20250910-24 dated September 10, 2025, on “Simplification of KYC process and rationalisation 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”.
Members are requested to take a note of SEBI circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/0000000163 dated October 03, 2023, about the Centralized Mechanism for reporting the demise of an investor through KRAs. Regarding all PANs declared as demise by KRAs on a daily basis, all regulated entities registered with SEBI should block debit transactions in the trading account and inactivate/close the UCC in all the Stock Exchanges. Furthermore, Trading Members are requested to note that, KRAs will send such PANs to them on daily basis. Based on the PANs acquired from KRAs, Trading Members are hereby advised to ensure that abovementioned SEBI circular is complied.
It is hereby informed that the clients whose KYC 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 September 01, 2025 to September 30, 202 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. October 27, 2025 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. October 25, 2025. 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 list of such non-compliant clients as mentioned above have been provided at the location mentioned in the circular.
In case of any clarification or assistance required in the implementation of this circular, you may contact :
Kaushik Jethwa - (kau...@secmark.in) 9870210171
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