June 27, 2023 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has issued a reminder to all authorized intermediaries (AI) to register their existing customers under the Centralized Know Your Customer (CKO) regime by September 30, 2023, latest notice issued showed.
Considering the significant number of investors who have not yet registered in the KYC regime, therefore,timeline for registering existing customers in KYC Database has been further extended till September 30, 2023, the notice reads.
The NCCPL has warned that failure to comply with the CKO regulations will result in necessary action against the non-compliant AIs.
The NCCPL has also highlighted that the CKO has introduced multiple options for customer registration under CKO regime in the recent past that can be used conveniently to register the existing customers in the KYC Database.
Therefore, diligent efforts should be made to complete the process within the above prescribed timeline.
