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of <h1>SEBI Circular Clarifies KYC Norms for Foreign Investors, Emphasizes Risk-Based Due Diligence and Flexible Documentation.</h1> The circular issued by SEBI addresses operational issues related to Know Your Client (KYC) norms for foreign investors, including Foreign Institutional Investors, Sub Accounts, and Qualified Foreign Investors. It provides clarifications on the implementation of KYC requirements, emphasizing the need for risk-based due diligence and ongoing client assessments. The circular outlines specific documentation and verification processes for foreign investors, allowing certain flexibilities like accepting Power of Attorney for signatures and alternative documents for identity verification. It mandates intermediaries to adhere to these guidelines for both new and existing clients to protect investor interests and regulate the securities market.
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