SEBI Video KYC Compliance Guide for Stockbrokers

SEBI-regulated stockbrokers in India are required to complete an In-Person Verification (IPV) for every new account, with video-based IPV emerging as the primary method, though distinct from the banking sector's "Video KYC." This compliance process involves a live video session to verify the investor's identity against existing KYC records, such as PAN, Aadhaar, and CKYC/KRA, and mandates storing a tamper-proof recording for audit purposes. Governed by SEBI's KYC norms and PMLA obligations, the process is separate from the RBI's framework applicable to banks. The guide emphasizes the importance of distinguishing between SEBI's video-based IPV and RBI's Video KYC, providing a detailed overview of the end-to-end onboarding process, including authentication, CKYC lookup, video session compliance, and the critical nature of recording infrastructure. It also discusses the build-versus-buy considerations for implementing video IPV systems, recommending a hybrid approach for mid-size brokers to balance compliance and infrastructure scaling needs. Compliance officers, CTOs, and product leads must ensure adherence to SEBI's detailed requirements to avoid significant penalties and reputational damage.

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