Clarifications with respect to Circular dated November 03, 2021, on ‘Common and simplified norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination’
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Mandatory PAN KYC and Nomination: RTAs must not process service requests until documents provided; payments via electronic mode. SEBI prescribes that RTAs phase the issuance of Form SH13/ISR3 and make it downloadable; follow specified signature verification steps including banker attestation and acceptable bank documents; accept driving licence in smart/book/digital form for name mismatches; permit self-attestation of hard-copy documents except in transmission cases; update folios from Client Master List or demat records per investor authorisation and accept e-sign; and suspend processing of service requests or complaints for physical holders until PAN, KYC and nomination details are furnished, with payments to be made only electronically. RTAs must obtain a practicing Company Secretary's compliance certificate within the prescribed period.
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.
Mandatory PAN KYC and Nomination: RTAs must not process service requests until documents provided; payments via electronic mode.
SEBI prescribes that RTAs phase the issuance of Form SH13/ISR3 and make it downloadable; follow specified signature verification steps including banker attestation and acceptable bank documents; accept driving licence in smart/book/digital form for name mismatches; permit self-attestation of hard-copy documents except in transmission cases; update folios from Client Master List or demat records per investor authorisation and accept e-sign; and suspend processing of service requests or complaints for physical holders until PAN, KYC and nomination details are furnished, with payments to be made only electronically. RTAs must obtain a practicing Company Secretary's compliance certificate within the prescribed period.
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