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The circular allows certain entities to utilize e-KYC Aadhaar Authentication services of UIDAI in the securities market as sub-KUA. The Master Circular on KYC norms for the securities market details the provision for Aadhaar-based e-KYC process u/s 11A of the Prevention of Money Laundering Act, 2002. Department of Revenue, Ministry of Finance issues notifications for entities permitted to use Aadhaar authentication services u/s 11A. A recent notification, S.O. 1863(E) dated April 30, 2024, identifies an entity authorized for such services. The entity must comply with SEBI circular and UIDAI guidelines. This circular is issued u/s 11(1) of the SEBI Act to safeguard investor interests and regulate securities markets.
The circular allows certain entities to utilize e-KYC Aadhaar Authentication services of UIDAI in the securities market as sub-KUA. The Master Circular on KYC norms for the securities market details the provision for Aadhaar-based e-KYC process u/s 11A of the Prevention of Money Laundering Act, 2002. Department of Revenue, Ministry of Finance issues notifications for entities permitted to use Aadhaar authentication services u/s 11A. A recent notification, S.O. 1863(E) dated April 30, 2024, identifies an entity authorized for such services. The entity must comply with SEBI circular and UIDAI guidelines. This circular is issued u/s 11(1) of the SEBI Act to safeguard investor interests and regulate securities markets.
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