{"id":328220,"date":"2023-04-29T09:15:02","date_gmt":"2023-04-29T04:15:02","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=328220"},"modified":"2023-04-29T09:15:02","modified_gmt":"2023-04-29T04:15:02","slug":"secp-okays-centralized-gateway-portal-to-facilitate-digital-onboarding-of-investors","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/secp-okays-centralized-gateway-portal-to-facilitate-digital-onboarding-of-investors\/","title":{"rendered":"SECP okays Centralized Gateway Portal to facilitate digital onboarding of investors"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nTo facilitate digital onboarding of investors in different asset classes in the regulated sectors and evade repeated KYC processing, the Securities and Exchange Commission of Pakistan (SECP) has approved the development of centralized digital onboarding platform namely Centralized Gateway Portal.<br \/>\nThe platform will offer a uniform digital onboarding process and standardized KYC requirements, along with one-time KYC information processing. SECP has tasked the Central Depository Company of Pakistan Limited (CDC) to develop and implement the portal, potentially, within the period of three months.<br \/>\nPursuant to the above, customers who will onboard through the digital portal, will only be required to fill KYC requirements once. While opening another account with any of the above-mentioned SECP regulated entities, they will not be required to re-submit the KYC information and documents in same or different asset class.<br \/>\nThe one-time KYC information processing will be applicable on securities brokers, futures brokers, asset management companies &#038; insurance Companies and their distribution agents, Securities &#038; Futures Advisors and Investment Advisors.<br \/>\nThis will significantly facilitate customers, remove duplication and streamline the customer onboarding process.<br \/>\nThe portal also aims to take advantage of advancements in technology and offer a user-friendly and efficient digital onboarding mechanism, while reducing turnaround time for opening of accounts. It is also expected to bring efficiency in AML\/CGT compliance by centralized identity verification, screening of customers and assisting the intermediaries in risk rating of their customers.<br \/>\nFor effective implementation of the mechanism for onboarding of customers in a swift and simplified manner, the SECP has issued a Circular, available on its website, specifying information to be obtained from customers to ensure applicability across all asset classes and bring uniformity in onboarding process.<br \/>\nFurther, industry participants have been instructed to align their account opening forms with the requirements of Circular and establish required connectivity for sharing of customers\u2019 information with Portal with consent of customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD To facilitate digital onboarding of investors in different asset classes in the regulated sectors and evade repeated KYC processing, the Securities and Exchange Commission of Pakistan (SECP) has approved the development of centralized digital onboarding platform namely Centralized Gateway Portal. The platform will offer a uniform digital onboarding process and standardized KYC requirements, along [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-328220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP okays Centralized Gateway Portal to facilitate digital onboarding of investors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/secp-okays-centralized-gateway-portal-to-facilitate-digital-onboarding-of-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP okays Centralized Gateway Portal to facilitate digital onboarding of investors\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD To facilitate digital onboarding of investors in different asset classes in the regulated sectors and evade repeated KYC processing, the Securities and Exchange Commission of Pakistan (SECP) has approved the development of centralized digital onboarding platform namely Centralized Gateway Portal. The platform will offer a uniform digital onboarding process and standardized KYC requirements, along [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/secp-okays-centralized-gateway-portal-to-facilitate-digital-onboarding-of-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-29T04:15:02+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 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