Revision in KYC requirements
Dear Investor,
Thank you for investing with Franklin Templeton Mutual Fund.
As you would be aware, mutual funds are required to formulate
and implement a client identification program as well as verify and maintain
records of the identity and address(es) of investors in accordance with the
Prevention of Money laundering Act, 2002 ('PMLA') and SEBI guidelines.
Effective January 1, 2011, in addition to the other category
of investors, Know Your Customer (KYC) norms will be mandatory for all resident
individual investors as well (including for the following), irrespective of the
amount of transaction.
i) Each of the applicants in case of application in joint
names
ii) POA (Power of Attorney) holder in case of investments
through a POA.
iii) Guardian in case of investments on behalf of a minor
iv) Claimant in case of transmission of units on account
of death of existing holder
KYC shall be mandatory for following transactions effective
January 1, 2011:
a.. New / Additional Purchases
b.. Switch Transactions
c.. New SIP Registrations (including SIP related products)
d.. New STP Registrations (including STP related products
like trigger facilities)
e.. New DTP Registrations (including DTP related products)
CDSL Ventures Limited (“CVL”) has been appointed by all
mutual funds, including Franklin Templeton Mutual Fund, to complete KYC and PAN
verification formalities together on their behalf, hence investors need to
submit their details only once for completion of these formalities across all
mutual funds. Investors are therefore advised to complete KYC / PAN formalities
with CVL at the earliest.
What do you need to do:-
1) If you are KYC compliant :
In case you have completed KYC requirements and not submitted
the acknowledgement to us, kindly submit a copy of acknowledgement along with a
list of folio number(s). The status will be updated in our records, post
verification, which will enable you to transact with us as usual. In case you
have already submitted the KYC acknowledgment to us, we request you to ignore
this communication.
2) If you are not KYC compliant
Please submit the duly completed KYC Application Form along
with requisite documents at any designated 'Point of Service' Centres of CVL or
any of the Franklin Templeton Investor Service Centres. Upon receipt and
verification of the same, a KYC Acknowledgement Letter will be allotted to each
applicant. The KYC Acknowledgement is currently being issued free of cost.
All documents must be submitted in original along with a
self-attested copy. The original will be returned across the counter after
verification. Alternatively, investors may submit copies of the requisite
documents attested by a Notary Public / Gazetted Officer / Manager of a
Scheduled Commercial Bank or Multinational Foreign Banks (Name, Designation and
Seal should be affixed on the copy).
3) KYC for Micro SIPs and investors residing in Sikkim
Since PAN is not mandatory for Micro SIPs i.e. up to Rs.50,
000 per year per investor and for investors residing in Sikkim, KYC would be
handled by each AMC separately. Hence, we request these investors to please
contact us for more information or assistance.
Please note that transactions are liable to be rejected if
KYC requirements as stated above are not completed.
(Click Here for the list of CVL 'Point of Service' Centres.
Click Here for list of Franklin Templeton Investor Service Centres).
Click Here to download the CVL KYC Application Form for
Individuals
Click Here to download the CVL KYC Application Form for Non
Individuals
For more information or assistance, please call us at 1800
425 4255 or 60004255 or email us at [email protected]
Thanking you, and assuring you of our best services always.
With Regards
Franklin Templeton Asset Management (India) Pvt. Ltd
www.franklintempletonindia.com | unsubscribe
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