Laws and sections by number or title, due dates, pages, and updates.
The Exchange mandates that Trading Members permit trading only for clients with a KYC status of KYC Registered or KYC Validated. Trading Members must upload all client KYC records to the KYC Registration Agency. Clients with KYC status On Hold for records uploaded between August 01, 2026, and August 31, 2026, cannot trade or square off open positions starting September 26, 2026. These positions expire on the contract expiry date. The Exchange flags non-compliant PANs as Not Permitted to Trade effective September 26, 2026. Members receive access to a list of non-compliant clients via the Exchange portal. Trading resumes on T+1 day once the KRA confirms the client status as compliant.
What you must do
Key dates
Who is affected
If you do not comply
Ask about this notice
[Image omitted. See the official document.]
| Notice No. | 20260916-16 |
| Notice Date | 16 Sep 2026 |
| Category | Compliance |
| Segment | General |
| Department | DOSS |
| Subject | Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011 |
| Attachments | No Attachment |
INTERNAL
To All Members,
Sub: Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011
This is with reference to SEBI Circular No. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, and pursuant to Exchange Circular issued on monthly basis in respect to Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011 with the latest notice no. 20260813-23 dated Aug 13, 2026 on “Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)” and “Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011”.
It may be noted that as per SEBI Circular SEBI/HO/OIAE/OIAE_IAD- 1/P/CIR/2023/0000000163 dated October 03, 2023, on Centralized mechanism for reporting the demise of an investor through KRAs, all Regulated Entities registered with SEBI should block debit transactions in those accounts including suspension of all transactions in the trading account and inactivate/close the UCC in all the Stock Exchanges. Trading Members are informed that demise data is being shared by the KRA on daily basis.
Further to the above referred circulars, Trading Members are hereby advised to ensure that the KYCs of all the clients have been uploaded to the KRAs and only those clients are permitted to trade whose KRA status is either “KYC Registered” or “KYC Validated”.
It is hereby informed that the clients whose KYC are not found to be validated by KRAs, i.e. where the KYCs are “On Hold” for any reasons (both AADHAAR and Non-AADHAAR based OVD) uploaded to the KRA from August 01, 2026, to August 31, 2026, shall neither be Permitted to Trade on the Exchange, nor will they be allowed to square off their open positions, if any, w.e.f. September 26, 2026, until they comply with the validation requirements. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
The Exchange shall flag the non-compliant PANs, provided by the KRAs, as Not Permitted to Trade w.e.f. September 26, 2026. All PANs that become KRA compliant subsequently, will be permitted to trade on T+1, based on the information received from KRA by the Exchange on T Day.
The list of such non-compliant clients as mentioned above have been provided at the below mentioned location:
| Path | Name of File |
|---|---|
| EQ\TRANSACTION\SEP-2026\16-09-2026 | Non_Validated_Clients_by_KRAs_Clgno_xxxx.TXT |
In case of any clarifications, members may contact us on details given as under:
INTERNAL
| Contact Nos. | Email ID |
|---|---|
| 022- 2272 8435/5785 | ucc@bseindia.com |
| Abhijit Pai | Vinayak Bhalavi |
| Deputy Vice President | Deputy Manager |
| Investigation | Investigation |
