SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

MASTER CIRCULAR SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 To, All Intermediaries registered with SEBI under Section 12 of the Securities and Exchange Board of India Act, 1992 Recognised Stock Exchanges Association of Mutual Funds in India (AMFI) Association of Portfolio Managers in India (APMI) BSE Administration & Supervision Limited (BASL) Dear Sir / Madam, Subject: Master Circular on Know Your Client (KYC) norms for the securities market The Securities and Exchange Board of India (SEBI) has been issuing various circulars/directions from time to time on Know Your Client (KYC) norms to be followed by intermediaries in the securities market. In order to enable the users to have access to all the applicable circulars/directions at one place, this Master Circular on the captioned subject is being issued. This Master Circular is a compilation of the circulars/directions issued by SEBI up to September 30, 2023 on the captioned subject and includes certain modifications to align such circulars/directions with the provisions of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 1 and the Securities and Exchange Board of India [KYC (Know Your Client) Registration Agency] Regulations, 2011 2 . The provisions of this Master Circular shall come into force from the date of its issue . Any modifications/updation in existing KYC records, shall be effected in line with the provisions of this Circular by December 31, 2023. On and from the date of issue of this Circular, all circulars for the purpose of KYC as listed in Appendix shall stand rescinded/modified as indicated therein . 1 Prevention of Money Laundering (Maintenance of Records) Rules, 2005 2 SEBI {KYC (Know Your Client) Registration Agency} Regulations, 2011 October 12, 2023 Notwithstanding such rescission, A