Know Your Client requirements: classify eligible foreign investors by category with risk based documentation and review on material changes. SEBI requires eligible foreign investors under the PIS route to be classified into Categories I-III with risk based KYC norms: Category I entities receive substantial document exemptions, Category II entities partial exemptions, and Category III entities must provide full identity, address, financial and UBO documentation. Intermediaries must review and update KYC on any material information change; submitted copies must be self attested and originals produced or attested per verification requirements.
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: classify eligible foreign investors by category with risk based documentation and review on material changes.
SEBI requires eligible foreign investors under the PIS route to be classified into Categories I-III with risk based KYC norms: Category I entities receive substantial document exemptions, Category II entities partial exemptions, and Category III entities must provide full identity, address, financial and UBO documentation. Intermediaries must review and update KYC on any material information change; submitted copies must be self attested and originals produced or attested per verification requirements.
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