CSDI News
CSDI e-KYC System Now Mandatory for Fund Managers and Investors
Iran’s capital market regulator mandates use of CSDI’s e-KYC system for all investment funds, their managers and investors.
The Securities and Exchange Organization (SEO), Iran’s capital market regulator, has mandated the use of the Central Securities Depository of Iran’s (CSDI) e-KYC system for all investment funds, their managers, and investors.
Effective 21 December 2024, investors must register in CSDI’s e-KYC, known as the Comprehensive Information Gathering System (CIGS), to electronically apply for the subscription or redemption of fund assets. Fund managers, on the other hand, are required to register in CIGS by 29 October 2024 to initiate the creation or redemption of ETFs.
The SEO emphasizes that registration in CIGS eliminates the need for multiple ID registrations with different service providers. Investors who fail to comply may face restrictions on investment fund activities and other capital market services.
Once registered in CIGS, investors will no longer need to repeatedly submit contact information, identification documents, or bank account details when switching brokers or investment funds. This applies to both natural and legal entities participating in the Iranian capital market.
Developed and launched by CSDI, the CIGS system centralizes the Know Your Customer (KYC) process, streamlining investor profiling and enhancing efficiency across the capital market. This regulation aims to simplify the investor experience while ensuring compliance and convenience.
Release Date: 12/21/2024
