Proof of Identity and Address requirements expanded for BO account openings, with mandatory original verification and DP due diligence. SEBI broadens acceptable Proof of Identity and Proof of Address documents for opening a Beneficiary Owner account, listing specific identity and address documents that may be accepted singly. Depository Participants must verify document copies against originals, treat the listed documents as the minimum requirement, and exercise due diligence in establishing identity to safeguard the depository system. Depositories are required to amend bye-laws, notify DPs, disseminate the circular, and report implementation to SEBI.
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Proof of Identity and Address requirements expanded for BO account openings, with mandatory original verification and DP due diligence.
SEBI broadens acceptable Proof of Identity and Proof of Address documents for opening a Beneficiary Owner account, listing specific identity and address documents that may be accepted singly. Depository Participants must verify document copies against originals, treat the listed documents as the minimum requirement, and exercise due diligence in establishing identity to safeguard the depository system. Depositories are required to amend bye-laws, notify DPs, disseminate the circular, and report implementation to SEBI.
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