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Ch.4 · SEBI Mutual Fund Regulations · hard

Under SEBI's KYC norms, how long must a mutual fund retain KYC records after the relationship with the investor ends?

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EXPLANATION

Under PMLA and SEBI KYC norms, mutual funds must retain KYC records and transaction records for a minimum of 5 years after the end of the business relationship or the date of the transaction, whichever is later.

A.3 years

B.5 years [✓ Correct]

C.7 years

D.10 years

EXPLANATION

Under PMLA and SEBI KYC norms, mutual funds must retain KYC records and transaction records for a minimum of 5 years after the end of the business relationship or the date of the transaction, whichever is later.

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