Common KYC for all investment products

Financial sector regulators are working towards a common KYC norm for investors across financial instruments – mutual funds, stocks, bonds, bank deposits, insurance and pension plans. While SEBI has already decided to move to a common standard for all products regulated by it, there has been discussion with other regulators on the subject.

Also Read :  Compliance with Mandatory KYC Requirement

In due course, KYC done by one of the financial sector players may become the enabling tool for all products.

A transition to a common KYC will make the lives of investors and financial advisors easier as it would reduce the documentation substantially. The investors and advisors would be able to do away with the hassle of submitting various documents.

At present, it is only in case of mutual funds that one KYC clearance entitles investors to put money in multiple schemes.

Compliance with Mandatory KYC Requirement

In order to enhance compliance with Know Your Customer (KYC) norms under the Prevention of Money Laundering Act, 2002 (PMLA), it will be mandatory for all categories of investors of Mutual Fund to be KYC compliant, irrespective of the amount of investment, with effect from 1st January 2011.

Check your KYC status here

All Mutual Fund investors who are yet to be KYC compliant, are requested to contact me at earliest  for getting assistance in complying with KYC, so as to facilitate investments or any transaction on or after 1st January 2011.

 

Investors may also visit the website www.cvlindia.com for details.

Document Required : Self attested & Notarized

1. Copy of PAN card

2. Address Proof – Name on the supporting proof should be same as on PAN card ( Mandatory )

3. PP Size Photograph – Cross Signed

4. KYC form duly filled with BLACK ink Pen and in CAPITAL letters. Download from here  >> Download Form

Please deposit above at Karvy Computershare Pvt Ltd

• New Delhi

305, 3rd Floor
New Delhi House,
Bara Khamba Road
Connaught Place
New Delhi-110 001

• Gurgaon :

Shop no. 18, Ground Floor, Sector – 14, Opp. AKD Tower, Near Huda Office,

Gurgaon – 122001

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