Notice No.   20230907-8   Notice Date   07 Sep 2023
Category   Compliance   Segment   General
Subject   Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)

We refer to SEBI circular no. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023 and Exchange notice no. 20230811-35 dated August 11, 2023, concerning "Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)."

In line with the aforementioned circulars, the Exchange issued notice nos. 20230818-44 dated August 18, 2023 and 20230902-1 dated September 02, 2023, stating that the clients whose KYC is not validated by KRA shall not be permitted to trade on the Exchange and will be unable to square up their open positions from September 02, 2023, until compliance with the KRA requirements.

Based on the representations received from Trading Members and in the interest of investors, it is decided to allow clients to square off their existing open positions, if any. The Trading Members are hereby requested to inform their clients to close their respective open positions within three (3) trading days, specifically between September 08 to 12, 2023. It may be noted, that during this period, Trading Members will permit only square off of existing open positions and refrain from allowing any new trades / positions or rollovers. These PANs will again be verified for their KRA status and blocked w.e.f 4th trading day (i.e. from September 13, 2023), if they continue to remain KRA non-compliant. 

We kindly request all Trading Members to adhere to these instructions diligently and ensure that necessary actions are taken to facilitate the smooth closure of existing positions within the stipulated timeframe.


In case of any clarifications, members may contact us on details given as under:


Contact Nos.

022-2272 8435/5785

Email ID


For and on behalf of BSE Ltd.



Hiteshkumar Desai                                         Jyoti Thukral

General Manager                                            Senior Manager

Brokers’ Supervision                                      Brokers’ Supervision