Temporary relaxation of FPI document processing permits scanned or encrypted submissions, subject to later original verification and reporting. SEBI permits DDPs and Custodians to process FPI registrations, KYC and material changes on the basis of scanned signed documents and uncertified copies received from verified global custodian/client e mail accounts or encrypted/password protected new client e mails; such documents may be uploaded to KRAs and relied upon by intermediaries. Intermediaries must perform regulatory and risk based AML due diligence on scan copies. Originals and/or certified documents must be obtained after the temporary relaxation period, with account blocking and reporting consequences if documents are not furnished within prescribed follow up periods.
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.
Temporary relaxation of FPI document processing permits scanned or encrypted submissions, subject to later original verification and reporting.
SEBI permits DDPs and Custodians to process FPI registrations, KYC and material changes on the basis of scanned signed documents and uncertified copies received from verified global custodian/client e mail accounts or encrypted/password protected new client e mails; such documents may be uploaded to KRAs and relied upon by intermediaries. Intermediaries must perform regulatory and risk based AML due diligence on scan copies. Originals and/or certified documents must be obtained after the temporary relaxation period, with account blocking and reporting consequences if documents are not furnished within prescribed follow up periods.
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