Skip to content
KYC Onboarding Spec by Rakesh Waghela

Persona: Regulator / Inspector

You’re walking into an inspection. The broker has produced a binder, a runbook, and a 178-page knowledge base (this one). Your job: understand the broker’s framework end-to-end, identify gaps between what they claim and what they evidence, and verify that the regulatory citations they cite actually say what they claim.

This page is your shortcut.

What you’ll find useful here

Section titled “What you’ll find useful here”

Two layers matter most:

  • Compliance Blueprint — the broker’s master inventory of obligations. If they map each row to evidence, your inspection moves fast. If they don’t, you have your starting list.
  • Circulars index — the broker’s regulatory citation source. Every blueprint row references a circular. Verifiability ties back to here.

Then domain-specific deep-dives — audit, CSCRF, AP framework, SCORES, ECN format, BMC / ABC — for any topic the inspection focuses on.

Suggested reading path (in this order)

Section titled “Suggested reading path (in this order)”

  1. Compliance Blueprint — the master inventory. Use the evidence column to write your evidence-request list; the circular_ref column to verify the citation.

  2. Regulatory Circulars master + per-issuer sub-pages — verify any cited circular against the project’s index. Each entry has a primary URL; click through to verify against the official source.

  3. Audit deep-dives — the broker’s existing internal audit cycles. What they’re already checking themselves on.

  4. CSCRF deep-dive — the broker’s cyber security framework posture. CSCRF clauses 2.1.1 / 2.1.2 categorization; VAPT cadence; incident-reporting timeline.

  5. SCORES Procedure deep-dive — the broker’s investor-grievance process. 21-day SLA; monthly MIS; escalation.

  6. Inspection Types deep-dive — the broker’s own playbook for handling inspections. Useful for setting expectations on responsiveness.

  7. AP Framework deep-dive — if the inspection touches the broker’s AP network.

  8. BMC / ABC deep-dive + Fit-and-Proper deep-dive — continuing-compliance posture.

  9. Market Manipulation Typologies — the broker’s awareness of the surveillance vocabulary you’d test against.

  10. Member Default Recovery deep-dive — the broker’s awareness of default mechanics. Useful for risk-side conversations.

That’s the foundation.

Common questions in your role

Section titled “Common questions in your role”
  • The broker claims peak-margin shortfall response within prescribed window — what’s the evidence? → Compliance Blueprint Margin domain — DMF response file reconciliation row + clearing-corp circulars.
  • Does the broker’s SCORES disposal rate meet the 21-day SLA? → broker’s monthly MIS; site’s SCORES procedure deep-dive describes the framework.
  • Is the broker’s CSCRF categorization (Qualified / Mid / Small) appropriate? → CSCRF deep-dive — clauses 2.1.1 / 2.1.2 computation.
  • The broker’s AP supervision — does it match the NSE/COMP chain? → AP Framework deep-dive — NSE/COMP/45842, 49334, etc. chain referenced.
  • Capital adequacy: is the broker compliant on networth, BMC, ABC? → broker’s quarterly statutory-auditor certificate; site’s BMC / ABC deep-dive describes the framework.
  • Client funds upstreaming — is the broker compliant with the June 2023 mandate? → broker’s daily upstreaming reports; site’s Client Funds Upstreaming deep-dive.
  • Direct-payout-to-demat — was the broker’s rollout aligned with the Jun 2024 phased mandate? → Direct Payout to Demat deep-dive.
  • DPDP compliance status — broker’s preparation for the May 2027 deadline? → Compliance Blueprint DPDP domain.

What to skip (and why)

Section titled “What to skip (and why)”
  • Onboarding journey screens — useful context but not direct inspection material.
  • Backend engineer / frontend persona pages — they cover implementation; inspection cares about compliance posture, not implementation choice.
  • appendix/* — only relevant if your inspection focuses on a specific cohort (NRI / minor / non-individual).

When you’d reference

Section titled “When you’d reference”
  • For your own reading of the underlying SEBI circular → click any circular ID in the site → the primary URL takes you to SEBI / exchange / depository’s own page.
  • For independent verification → use the broker’s binder + circular text + this site as triangulation; the site’s purpose is to map evidence to obligations transparently.

Verified through

Section titled “Verified through”

2026-05-14

AI-generated and not legal, financial, or compliance advice. See the project README for full disclaimer.

Built by Rakesh Waghela — Technology & Product Consultant

LinkedIn @webiyo Topmate

Available for consulting and collaboration on technology, product strategy, and system architecture. Connect on LinkedIn.

· We respect your privacy and comply with GDPR

Disclaimer: This documentation was generated using Claude Code, an AI-powered LLM by Anthropic, as a research and capability estimation exercise. AI models can hallucinate — information here may be inaccurate, incomplete, or outdated. Any resemblance to the products or documentation of any specific vendor or organization is purely coincidental and unintended. This project is not directly inspired by any particular product, vendor, or proprietary system, and no plagiarism is intended. All content is based on publicly available information. This is not legal, financial, or compliance advice.