Govt. exempts FPIs from reporting of client’s KYC records with Central KYC registry under money laundering norms
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- Last Updated on 6 January, 2022
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NOTIFICATION No. G.S.R. 5(E)., Dated 04-01-2022
The Government in consultation with SEBI, in the public interest and in the interest of the Foreign Portfolio Investor, directed that provisions of rule 9(1A) of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 shall not apply to the FPI. As per rule 9(1A), every reporting entity is required to file within 10 days after the commencement of an account-based relationship with a client, an electronic copy of the client’s KYC records with the Central KYC Records Registry.
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