As an on-going measure to enhance the ease of doing business for investors in the securities market, the SEBI, vide its Circular dated March 16, 2023, with subject ‘Common and Simplified Norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination’ (‘SEBI Circular’), has mandated the following:
- Furnishing of PAN, KYC details Incl. Contact details, Bank details, Specimen Signature and Nomination by holders of physical securities.
- Compulsory linking of PAN and AADHAAR by all holders of physical securities; and
- Freezing of folios without valid PAN, KYC details Incl. Contact details, Bank details, Specimen Signature and Nomination, in case the same is not available, on or after October 01, 2023.
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