The Securities and Exchange Board of India vide notification dated 28th January, 2022 has issued the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022. The amendment provides following requirements regarding KYC records uploaded onto the system of KYC (Know Your Client) Registration Agency by the intermediary:
- KRA shall carry out an independent validation of the KYC records uploaded onto its system by the intermediary in such a manner as specified by the Board from time to time.
- KRA shall maintain an audit trail of any upload/ modification /download regarding the KYC records of each client.
- The intermediary shall integrate its systems with the KRA to facilitate seamless movement of KYC documents to and from the intermediary to the KRA.
