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<h1>SEBI Unveils Master Circular on KYC Norms for Securities Market; Compliance Required by December 31, 2023.</h1> The Securities and Exchange Board of India (SEBI) issued a Master Circular consolidating all Know Your Client (KYC) norms for the securities market, effective from October 12, 2023. This Circular compiles previous guidelines and aligns them with the Prevention of Money Laundering Act and related regulations. Key provisions include mandatory PAN verification, uniform KYC formats, digital KYC processes, and the use of Aadhaar for e-KYC. It also details the responsibilities of intermediaries and KYC Registration Agencies (KRAs) in maintaining and updating KYC records, ensuring data security, and handling client information confidentially. The Circular mandates compliance by December 31, 2023.