CIRCULAR
SEBI/HO/MIRSD/SEC-5/P/CIR/2022/99 July 20, 2022
To,
SEBI Registered Intermediaries:
1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchanges,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs) and AMCs through AMFI
5. Portfolio Managers (PMs)
6. Collective Investment Schemes (CIS),
7. Investment Advisors
8. Registrar and Transfer Agents
9. Custodians
10.Alternate Investment Funds (AIFs)
Dear Sir/Madam,
Subject : Entities allowed to use e-KYC Aadhaar Authentication services of
UIDAI in Securities Market as sub-KUA
1. SEBI issued circular No. SEBI/HO/MIRSD/DOP/CIR/P/2019/123 dated November
05, 2019 detailing the e-KYC Authentication facility under section 11A of the
Prevention of Money Laundering Act, 2002, by entities in the securities market for
Resident Investors.
2. Subsequently, SEBI vide its circular SEBI/HO/MIRSD/DOP/CIR/P/2020/80 dated
May 12, 2020 listed the entities who shall undertake Aadhaar Authentication service
of UIDAI as KYC user agency (KUA) in securities market.
The KUA shall allow SEBI registered intermediaries to undertake Aadhaar
Authentication of their clients as sub-KUA for the purpose of KYC.
3. In this regard, Department of Revenue-Ministry of Finance, Government of India,
vide Gazette Notification No. S.O. 3187(E) dated July 13, 2022 has notified 155
reporting entities as sub-KUA to use Aadhaar authentication services of UIDAI
under section 11A of the Prevention of Money-laundering Act, 2002. A copy of the
same is enclosed at Annex A.
4. The above mentioned entities shall enter into an agreement with a KUA and get
themselves registered with UIDAI as sub-KUAs. The agreement in this regard shall
be as prescribed by UIDAI. Further, the Sub-KUAs shall follow the process as
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detailed in SEBI circular dated Nov 05, 2019 and as may be prescribed by UIDAI
from time to time.
5. The KUAs shall facilitate the onboarding of these entities as sub-KUAs to provide
the services of Aadhaar authentication with respect to KYC.
6. This circular is issued in exercise of powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992 to protect the interests of
investors in securities and to promote the development of, and to regulate the
securities markets.
Yours faithfully,
Sapna Sinha
Deputy General Manager
Market Intermediaries Regulation and Supervision Department
Tel. no.:022 2644 9748
email id: sapnas@sebi.gov.in
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