Regulatory Alerts2025-09-05
Streamlining of the process for surrender of (Know Your Client) Registration Agency (KRA) registration
The Securities and Exchange Board of India (SEBI) has issued a circular to streamline the process for Know Your Client (KRA) Registration Agencies to surrender their registration in voluntary or involuntary scenarios. The directive mandates that KRAs establish and approve a Standard Operating Procedure to ensure the orderly transfer of critical operations, investor KYC records, and data integrity to a transferee agency without disruption. Compliance requires the formation of an oversight committee, strict adherence to transition timelines, and the settlement of all regulatory and contractual obligations before final exit approval.
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