This is further to our Notice no. 20190618-1 dated June 18, 2019 and 20160321-8 dated March 21, 2016 regarding “Launch of Non Demat transactions in Mutual Fund Units on BSE StAR MF Platform – AOF” and Notice no. 20160106-24 dated January 06, 2019 regarding “Uniform Implementation of KYC requirements”.
Members were informed to upload the AOF images and FATCA data prior to placing of Non-Demat orders in any MF schemes. It has been observed that AOFs and FATCA details for some cases are not uploaded by members.
Further, as per the instructions received from AMCs, the following validations in respect of AOF Images and FATCA data across all AMCs shall be implemented:
· In case, AOF image for an investor is not available, BSE StAR MF shall not allow to place Non-Demat orders in any MF schemes of AMCs for that investor.
· In case, FATCA data is not given/updated for any new UCC created by member and that PAN is unique to BSE StAR MF then system will not allow to place Non-Demat orders in any MF schemes of AMCs.
- For instance, if new UCC has been created with a PAN ABCDE1234E which is not available on BSE StAR MF, then system will not allow the member to place order for that UCC if the FATCA data is not provided.
- If new UCC has been created with a PAN ABBBE1235E which is already available on BSE StAR MF, then system will allow the member to place order for that UCC if the FATCA data is provided earlier.
Members are hereby requested to note that the above validation shall go live with effect from July 12, 2019 after market hours.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds |