Markets regulator Sebi on Thursday allowed entities regulated by the IFSCA to access the systems of registered KYC registration agencies, facilitating seamless sharing of client information for financial services.
The markets watchdog said the step will enable interoperability and facilitate sharing of information between Sebi-registered KRAs and entities regulated by IFSCA.
Under the move, the International Financial Services Centres Authority (IFSCA) regulated entities can access KYC Registration Agencies (KRAs) records for carrying out KYC of clients who engage them for financial services, Sebi said.
A KYC Registration Agency (KRA) is an agency that maintains investors’ KYC (Know Your Customer) records. KYC is the process through which financial institutions verify the identity and other required details of their clients.
The Securities and Exchange Board of India (Sebi) has included IFSCA-regulated entities under Regulation 16A(1) of the KYC Registration Agency Regulations, 201
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