Invest And Insure > Wealth Management > Union Demat and Online Trading Services > New SEBI Guidlines Demat
New SEBI Guidlines Demat
ATTENTION INVESTORS Tickers
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."
"KYC is one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
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SEBI has issued Circular vide no: SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023 on Simplification of KYC process and rationalization of Risk Management framework of KRAs |
SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023 on Simplification of KYC process and rationalization of Risk Management framework of KRAs. KRAs shall verify the following attributes of records of all clients within 2 days of receipt of KYC records: 1. PAN (including PAN Aadhaar linkage, as referred to in rule 114 AAA of the Income-tax Rules, 1962) 2. Name 3.Address Additionally, the KRAs shall verify the client’s mobile number and email id. In case of PAN exempt records, the other attributes i.e. name, address, mobile number and email id shall be verified by the KRAs. Clients in whose case, attributes of records as mentioned above cannot be verified, shall not be allowed to transact further in securities market until the attributes are verified |
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MANDATORY REGISTRATION OF NOMINATION IN ELIGIBLE DEMAT AND TRADING ACCOUNTS |
Investors opening new trading and or demat account(s) on or after October 01, 2021, shall have the choice of providing nomination or opting out nomination as per circular SEBI/HO/MIRSD/RTAMB/CIR/P/2021/601 dated July 23, 2021. SEBI has made it mandatory to provide nomination or opt out nomination in all eligible accounts and the deadline has been extended from December 31,2023 to June 30, 2024. |
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SUSPENSION OF DEMAT ACCOUNTS OF EXISTING CLIENTS WHOSE KYC RECORDS ARE NOT FOUND TO BE VALID BY KRAS AFTER THE VALIDATION PROCESS |
SEBI has issued circular no. SEBI/HO/MIRSD/DoP/P/CIR/2022/46 dated April 06, 2023 regarding Suspension of demat accounts of existing clients whose KYC records are not found to be valid by KRAs after the validation process |
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SUSPENSION OF DEMAT ACCOUNTS IN CASE OF NON-COMPLIANCE WITH PAN LINKING WITH AADHAAR |
SEBI has issued a press release vide no. PR 05/2023 dated March 08, 2023 stating that eligible Demat accounts will be suspended for debit and credit for PANs not linked with adhaar. Investors are advised to link their respective PANs with adhaar if not linked already to avoid suspension of Demat accounts. |