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    <title>Mandatory requirement of ‘In-person’ verification of clients</title>
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    <description>Reciprocal recognition of in-person verification is permitted between a Depository Participant and a stock broker when they are the same entity or when one is the holding or subsidiary of the other; an in-person verification by a DP will be accepted for a trading account and vice versa. Stock Exchanges and Depositories must notify constituents, amend bye-laws and rules for implementation, and report implementation status to the regulator by the prescribed deadline. The circular is issued under statutory powers to protect investors and regulate the securities market and is effective from its date of issuance.</description>
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      <description>Reciprocal recognition of in-person verification is permitted between a Depository Participant and a stock broker when they are the same entity or when one is the holding or subsidiary of the other; an in-person verification by a DP will be accepted for a trading account and vice versa. Stock Exchanges and Depositories must notify constituents, amend bye-laws and rules for implementation, and report implementation status to the regulator by the prescribed deadline. The circular is issued under statutory powers to protect investors and regulate the securities market and is effective from its date of issuance.</description>
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