ATLAS INTEGRATED FINANCE LTD.
KRA Policy & Procedures
KRA or KYC Registration Agency is an agency registered with SEBI under the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011. The KRA maintains KYC records of an investor centrally, on behalf of capital market intermediaries registered with SEBI.
KRA enables an investor to invest through various intermediaries, after undergoing the KYC process only once through an intermediary. This helps in avoiding duplication of KYC process and inconvenience to investors and eliminates the need to submit KYC documents each time he opens an account with another intermediary. Further, any subsequent changes in demographic details of an investor across various intermediaries can be updated by simply updating the record maintained with the KRA. KRA process results in uniformity of data of investors maintained across intermediaries, which would enhance compliance standards.
KRA would be providing a web based interface to the intermediaries through which they would be able to verify, download or upload information from/ to the KRA.
Functions & Obligations
KRA accepts the KYC form and documents pertaining to proof of identity and proof of address received from the Intermediaries. It scans, digitalizes the documents and thereafter issues acknowledgements/ conveys rejections to the investor. KRA also records any updates on KYC details of investors, which are submitted through an intermediary.
Our Role
As per the new KRA Regulations, we have registered ourselves as an intermediary with the CDSL Ventures Ltd (CVL) for KRA registration process of our clients. We have started the process to comply with KRA regulations as per the relevant circulars as prescribed by SEBI and Exchanges.
As per the KRA Policy, for all new clients registered, member collects the KYC form and documents only for its clients andverifies with the originals. Clients are required to sign the KYC forms for KRA registration along with the normal KYC forms maintained by us, as mandated by SEBI. All clients are required to submit one extra copy of necessary documents along with copy of PAN Card and Address proof with self attestation, specifically for the purpose of KRA registration.
For all existing clients(registered before the relevant date as mentioned in the circular), the clients are required to fill and submit the KRA forms along with necessary documents as and whentheir trades are executed by us. Necessary precaution is taken that the client is registered with CVL KRA within reasonable time of execution of any trade.
We capture the data of the client through CVLKRA website and verify the details for accuracy of the same. A client list is prepared for all the clients whose data is fed online. All the KRA forms with necessary documents are scanned and send to CVL KRA through Image Upload option anda copy of KRA & documents is maintained with us.Further, in case of any changes in the demographic details submitted to the intermediary by an investor, the intermediary will update the same in the KRA system.
For clients who already have their KRA uploaded through any other intermediary, KRA is fetched from CVL KRA site at the time of account opening.
The status of all the KRA Forms submitted is checked on a regular interval and follow up action is taken in case any registration are on “Hold” due to some discrepancy. All clients are asked to furnish any changes in personal data at the end of each financial year and the change in the data is effected in the records of CVL KRA.