IMP-ost : 31st Dec, 2012The mutual fund investors, who had completed KYC formalities before 1 January this year, will have to update their details to enable fresh investment.
From the first of this month, mutual fund investors have been asked to go through one more round of paperwork. This is because Sebi has prescribed standard know your customer (KYC) procedures across all Sebi-registered entities, such as stock brokers, mutual funds, depository participants, portfolio managers, venture capital funds, etc.
The investors who had completed the mutual fund KYC registration last year have now been asked to provide additional information. This includes name of father/spouse, marital status, nationality and gross annual income/latest net worth. In addition, the investors have to go through personal verification.
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