SEBI Relaxes Norms on Account Opening..

Moving towards a common know-your client (KYC) framework for the entire share  market, SEBI simplified investor account opening form by doing away with details about income and occupation of the applicant for the purpose of centralised KYC registration agency.

SEBI in a circular has given 6 months to various market intermediaries to bring the changes in the KYC form.

The SEBI said certain information about applicants such as gross annual income details, occupation, permanent address proof &  whether the applicant is a politically exposed person are not required for the centralised KYC Registration Agency (KRA).

The decision was taken after consulting various market participants. 

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