BSE – Guidelines on Amendment to SEBI KYC Registration Agency (KRA) Regulations, 2011
| Circular | BSE – Guidelines on Amendment to SEBI KYC Registration Agency (KRA) Regulations, 2011 |
| Issuing Authority | BSE |
| Issuing Date | March 11 ,2025 |
| Key Enforcement Date | March 22, 2025 |
| Target Audience | Traders and Investors trading on BSE |
| Purpose | To enforce compliance with SEBI’s KYC validation requirements for clients registered with KYC Registration Agencies (KRAs). |
| Interpretation of Circular | 1. Non-KYC validated clients will not be permitted to trade on BSE from March 22, 2025, until their validation is completed. 2. Open positions of non-compliant clients cannot be squared off and will expire naturally on the contract’s expiry date. 3. Clients who complete KYC validation will be permitted to trade on T+1 after confirmation from KRA. |
| Actions Required | Clients whose KYC validation is “On Hold” (both AADHAAR and Non-AADHAAR based OVD) must complete KYC validation to avoid restrictions. |
Breakdown of Key Terms & Clauses:
KYC “On Hold” Status: Clients with pending KYC validation will face trading restrictions.
Non-Permitted to Trade (NPT): Clients with a flagged PAN due to KYC non-compliance will be restricted from trading.
T+1 Activation: Once KYC validation is complete, clients will be allowed to trade from the next working day (T+1) after KRA confirmation.
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