The Securities Exchange Board of India vide circular dated December 14, 2021 has issued Clarifications with respect to ‘Common and simplified norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination’.
In case of KYC details across all folios of the holder, maintained by the RTA, it is clarified that:
- RTA shall update the folio(s) of the holder with the information on 1) present address, 2) bank details, 3) E-mail idand 4) mobile number from the details available in the Client Master List (CML), if the holder / claimant provides the CML.
- Details which are already available with the RTA are to be overwritten on specific request received from the investor as per the authorization clause given in Form ISR-1.
- In the normal course, only details which are not available for the physical folio in RTA database, shall be updated from the demat account details.
Stock Exchanges and Depositories are advised to make necessary amendments to the relevant bye-laws, rules and regulations, operational instructions, as the case may be, for the implementation of the clarifications and to bring them to the notice of their constituents and also disseminate the same on the website.
