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Securities and Exchange Board of India CIRCULAR MIRED/SE/Cir-21/2011 October 5, 2011, SEMI Registered Intermediaries Depository Participants (DPs) through Depositories, Mutual Funds (MF's) Association

Given the different KYC/AML norms applicable to particular entities in the marketplace and given the wide range of intermediaries operating here, SEMI is unable to provide the KYC information to the investors (including investors who are seeking it on their behalf) on a standalone basis. It, therefore, hereby appeals to all AML/KYC compliant intermediaries operating with us to provide this KYC information in a single consolidated format including all details related to each party to the transaction e.g. name, address, company and address, IFSC code and all details of KYC procedures performed on behalf of a party for the transaction. As an alternative solution, SEMI has formed a task force for bringing together the stakeholders to review the current KYC/AML norms (including the latest amendments), propose a set of requirements for AML and KYC compliance of the intermediaries operating in the marketplace, develop an alternative solution based on such review and issue an advisory to all relevant stakeholders. It would be appreciated if the stakeholders would cooperate to implement this alternative solution as expeditiously as possible. There would be no additional burden on our investors as we would ensure that all required KYC information is provided to them in a single consolidated manner. We request you to provide your suggestions and concerns on this matter through a dedicated email or email to us. This communication shall be sent to the following address: SEMI Compliance Team, General Manager Public Relation, P.O. Box 1410, New Delhi — 110 014 Email: Thank you, The SEMI Compliance Team Dear Sirs, As we have mentioned in our previous mail titled “The Compliance Process for the SE/CIR” that there is a great need for an overarching rule book with an umbrella for the various sectors. This umbrella rule book could help in the long run as these are regulatory aspects. We are going to be introducing the “Regulatory Framework Act, 2012” soon which provides for an umbrella to all the regulatory rules under the Act for the various sectors such as banking, insurance and real estate. In our earlier mail dated August 24, 2011, titled “The Regulation of Payment Transaction Activities”, we discussed how to frame and formulate a framework for effective regulation of Payment Transaction Activities. We had mentioned that a “Flexible Framework” would be necessary to regulate payment transactions in the country.

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What is uniform know your client?

Uniform Know Your Client (KYC) refers to a set of regulations and processes that financial institutions and organizations must follow to verify and identify their customers and assess the risks of potential illegal activities.

Who is required to file uniform know your client?

Financial institutions, such as banks, credit unions, and investment firms, are required to file Uniform Know Your Client (KYC) forms for their clients.

How to fill out uniform know your client?

To fill out a Uniform Know Your Client (KYC) form, you will generally need to provide personal information such as your name, date of birth, address, and identification documents like a passport or driver's license.

What is the purpose of uniform know your client?

The purpose of Uniform Know Your Client (KYC) is to prevent identity theft, fraud, money laundering, terrorist financing, and other illegal activities by ensuring that financial institutions have accurate information about their clients and their sources of funds.

What information must be reported on uniform know your client?

Uniform Know Your Client (KYC) forms typically require information such as the client's full name, date of birth, address, contact information, occupation, source of funds, and identification documents.

When is the deadline to file uniform know your client in 2023?

The specific deadline to file Uniform Know Your Client (KYC) forms in 2023 may vary depending on the financial institution or regulatory requirements. It is advisable to consult the relevant authority or institution for the exact deadline.

What is the penalty for the late filing of uniform know your client?

The penalties for late filing of Uniform Know Your Client (KYC) can vary depending on the jurisdiction and the specific circumstances. It may include fines, sanctions, restrictions on financial activities, or other legal consequences. The exact penalties should be obtained from the regulatory authority or legal advice.

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