Aadhaar and PAN requirement for client accounts affirmed; securities market continues to require PAN for completion of KYC processes. The PML amendments require collection of Aadhaar and PAN or Form 60 for client accounts and clarify acceptable OVDs and certified copies for address proof, with an extension of the submission deadline pending final adjudication. SEBI emphasizes that PAN remains mandatory to complete KYC in the securities market and directs exchanges, depositories, mutual funds and other intermediaries to amend rules, monitor compliance through half yearly audits and inspections, and report implementation to SEBI.
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Provisions expressly mentioned in the judgment/order text.
Aadhaar and PAN requirement for client accounts affirmed; securities market continues to require PAN for completion of KYC processes.
The PML amendments require collection of Aadhaar and PAN or Form 60 for client accounts and clarify acceptable OVDs and certified copies for address proof, with an extension of the submission deadline pending final adjudication. SEBI emphasizes that PAN remains mandatory to complete KYC in the securities market and directs exchanges, depositories, mutual funds and other intermediaries to amend rules, monitor compliance through half yearly audits and inspections, and report implementation to SEBI.
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