Sebi lays rules for automated deactivation of trading, demat accounts in case of inadequate KYCs

Noting that addresses form a critical part of the KYC procedures, Sebi said that every address recorded for the purpose of compliance with the KYC procedures has to be accurate.An intermediary is required to update the address from time to time. However, the regulator observed that in some cases accurate or updated addresses of clients are not maintained.