SEBI has relaxed the KYC norms for mutual funds, PMS and AIF
Apr 28 2020
News Category: Regulatory Updates
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SEBI has relaxed the KYC norms for mutual funds, PMS and AIF, in order to make boarding process easier during nationwide lockdown. Accordingly, investors’ KYC can be completed through online / App based KYC, in-person verification through video, online submission of Officially Valid Document (OVD) / other documents under eSign. SEBI has allowed all registered intermediaries like fund houses, PMS players, AIF players and RIAs to offer app-based video KYC facility to onboard new clients digitally. These intermediaries will have to ensure that they are ready with necessary infrastructure to verify KYC documents online and facilitate video in person verification.

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