KYC harmonization for FPIs: DDPs may transfer verified KYC documents to banks on written authorization, with certification. DDPs may share FPIs' KYC documents with banks upon written authorization; hard copies may be transferred via authorised representatives. DDPs must certify that documents were verified with originals or that notarised copies were obtained where applicable, and both DDPs and banks must keep signed records of the transfer. The requirements apply to new and existing FPI clients.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
KYC harmonization for FPIs: DDPs may transfer verified KYC documents to banks on written authorization, with certification.
DDPs may share FPIs' KYC documents with banks upon written authorization; hard copies may be transferred via authorised representatives. DDPs must certify that documents were verified with originals or that notarised copies were obtained where applicable, and both DDPs and banks must keep signed records of the transfer. The requirements apply to new and existing FPI clients.
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