Broking, advisory and wealth platforms hold KYC, portfolio and behavioural data under both SEBI rules and the Act.
In short
Wealth and broking platforms hold KYC, portfolio and behavioural data under both SEBI rules and the DPDP Act. Consent, minimization and rights apply, alongside SEBI record-keeping and suitability requirements. Penalties reach ₹250 crore.
What changes for this sub-sector.
Risk-profiling and advisory use personal data; take clear consent and avoid unrelated reuse.
SEBI record-keeping and KYC rules coexist with DPDP; retention obligations may override erasure.
Collect only what advice or execution needs; avoid excess device or contact data.
Clients can access, correct and erase personal data, within regulatory-retention limits.
Custodians, RTAs and analytics vendors are processors; watch cross-border data flows.
Reconcile SEBI retention with DPDP, then fix consent.
The readiness check flags consent, retention and cross-border gaps.
Take the readiness check →