This is with reference to our Notice No. 20151231-7 dated December 31st, 2015 and 20180312-37 dated March 12th, 2018 in respect of Uniform Implementation of KYC requirements.
The Exchange has provided the facility of updating the FATCA records in manual as well as bulk upload. The FATCA records uploaded by the members are updated across all the 4 RTAs.
The Exchange is in the process of reconciling the existing data with all the 4 RTAs i.e. the data uploaded by the members directly to RTA site. The response received by the RTAs shall be updated against that RTA only. The members can view the same in FATCA report, which is available in menu path Daily Downloads > New Reports > Master Reports > FATCA Report
As you are aware, currently there is no validation/restriction at order entry level on Exchange Platform for any type of transactions. MFIs/MFDs/RIAs are hereby informed that the order entry level validation/restriction shall be placed in Exchange System. If the FATCA is not uploaded for any PANs, the system will restrict the order entry and systematic registrations and transactions for non-demat mode.
Members must ensure that FATCA information is uploaded on BSE StAR MF platform for all Non-Demat clients prior to placing orders, Members are requested to note that this restriction shall be applicable for all the 4 RTAs i.e., CAMS/KARVY/Franklin/Sundaram. Further, if FATCA is uploaded directly to RTA sites, the members must ensure that it is updated across all the 4 RTAs.
The date of the validation shall be informed shortly.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds