A circular by SEBI states that investments in financial products will have uniform KYC
The much awaited uniform KYC norm for SEBI regulated financial investments will soon in place. The regulator had first shared this thought at CII Mutual Fund Summit 2011, read here: CII Mutual Fund Summit 2011 - Update
According to the new KYC form, Part I of the form will capture all the basic details of the client. Additional information as applicable to each product category (DP, MFs etc) will be required in Part II.
The circular also states that the intermediaries shall take necessary steps to implement this circular and ensure its full compliance in respect of all new clients from January 1, 2012.
