BSE extends the timelines for updating of 6 KYC attributes for new clients

Jul 29, 2021 | by Avantis RegTech Legal Research Team

A |  A
Loading audio.....

Commercial Compliance

The Bombay Stock Exchange (BSE) on July 29, 2021 has issued the extension for the timelines to update the 6 KYC attributes for new clients, Earlier through the notice no. 20210630-31 dated June 30, 2021 the date for updating the KYC was July 01, 2021 which has been extended to July 31, 2021.

It may be noted that 6 KYC attributes for new clients shall be effective from August 01, 2021. Trading Members are advised to upload the UCC with all the 6 mandatory KYC fields for new clients prior to execution of trade w.e.f. August 01, 2021.

In case the UCCs is/are not uploaded by the trading member / not approved by the Exchange in the UCC system prior to execution of trade, the trading member shall be liable for penalty @ Rs.10,000/- per code per day till the same is uploaded and approved in the UCC system of the Exchange and any other disciplinary action that the Exchange may deem fit. 

Further, to facilitate members to check the status of UCCs uploaded with respect to PAN verification by the Exchange, the Exchange has provided download facility in UCC system wherein the trading members can download the UCC records created. The downloaded file shall provide the information about PAN verification status viz. Approved / Not Approved.  

The revised file format for new client upload shall be provided in a subsequent circular shortly.

 [Notice No. 20210729-1]

 


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.