SEBI Updates Aadhaar-Based e-KYC Rules for Securities Market; Outlines KUA Responsibilities for Compliance.

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....The circular issued by SEBI on April 05, 2024, addresses the utilization of Aadhaar-based e-KYC authentication services in the securities market. It highlights the notification issued by the Department of Revenue, Ministry of Finance, which identifies 24 entities permitted to utilize Aadhaar authentication services for KYC purposes. SEBI emphasizes adherence to its previous circular on KYC norms and outlines the role of Know Your Authentication Service Providers (KUAs) in facilitating the onboarding of authorized entities as sub-KUAs.....