Know Your Client requirements: Section C moved from Part I to Part II; intermediaries must update forms within transition period. Certain client information formerly in Section C of Part I of the standard Account Opening Form is moved to Part II for individuals and non-individuals. Revised Part I data are to be captured by KRAs from the date of the circular, and intermediaries have six months to modify pre-printed KYC forms. The shift retains basic, stable KYC in Part I for central capture while placing changeable, intermediary-specific details in Part II to reduce repeated KRA updates and harmonise KYC across the financial sector.
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.
Know Your Client requirements: Section C moved from Part I to Part II; intermediaries must update forms within transition period.
Certain client information formerly in Section C of Part I of the standard Account Opening Form is moved to Part II for individuals and non-individuals. Revised Part I data are to be captured by KRAs from the date of the circular, and intermediaries have six months to modify pre-printed KYC forms. The shift retains basic, stable KYC in Part I for central capture while placing changeable, intermediary-specific details in Part II to reduce repeated KRA updates and harmonise KYC across the financial sector.
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